Live sports streaming service FloSports said on Monday that it raised $47 million from investors including current partner Discovery Inc. to grow its coverage of new and existing sports, reports Reuters.
Other current investors that participated included Causeway Media Partners LP, Fertitta Capital and DCM Ventures. Strategic investors included World Wrestling Entertainment Inc. and Bertelsmann Digital Media Investments, a unit of Bertelsmann SE & Co KGaA.
FloSports launched in 2009 to concentrate on marginalized sports that were not covered regularly or deeply in traditional media, particularly track and field and wrestling.
It tapped into fans’ passion for the sports they played and expanded to cover more than 20 sports, including soccer, basketball, volleyball, rodeo, bowling, softball, cycling, cheerleading, weightlifting and ballroom dance.
With the new round of funding, “we will further enrich underserved sports communities by broadening our existing coverage and expanding into new verticals,” said FloSports CEO and co-founder Mark Floreani in a statement.
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