Participated · Series A · Aug 2020

MikMak provides e-commerce marketing, analytics, and retail insights that give traditional consumer brands real-time views of activity across online retailers such as Amazon, Target, and Walmart. Its platform helps brands like Colgate, Dreyer’s, and Hershey’s manage online retail strategies and capture sales intelligence. Founder and CEO Rachel Tipograph launched the company in 2014 as a “QVC for Snapchat,” and the business pivoted to its current model in 2017. MikMak has been cash flow positive since 2018 and reported that consumer demand during the pandemic boosted its revenue by 50% from March to the present. With roughly 60 employees today, the company plans to triple headcount by year-end while advancing its product roadmap, expanding its retail footprint, and offering services to international companies. Following increased VC attention during the global pandemic, MikMak is positioning to gain market share. MikMak creates and distributes short-form “mini-mercials” that let users shop directly through video content. The company launched in May 2015 and initially offered SMBs and retailers the ability to list products on the MikMak app while MikMak handled all production costs and took a small percentage of each sale. MikMak produces videos by hiring up-and-coming comedians and actors and operating a studio production-line that shoots back-to-back on multiple products. Its distribution network includes publishers such as BuzzFeed. MikMak plans to launch a SaaS product in the coming months to let retailers own customer data, integrate with preferred shopping carts, select SKUs for mini-mercials, and customize videos to their brand voice. Pricing for the SaaS product has not been disclosed.

Participated · Series D · Apr 2018

fuboTV is a streaming TV service built around live sports, offering access to NBA, NHL, UFC and extensive international soccer coverage (Bundesliga, EPL, La Liga, Liga MX, MLS, World Cup qualifiers, UEFA Champions League). The service offers a Fubo Premier package (70+ channels) priced at $19.99 for the first month and $44.99 thereafter, with add-ons for extra sports, international packages, DVR and additional streams. It claims over 30,000 sporting events per year and a 10,000+ title VOD library, and had over 100,000 paid subscribers as of September 2017 with continued double-digit growth. fuboTV has broadened beyond pure sports by adding entertainment networks (including channels tied to strategic investors) and expanded broadcast affiliates (Fox in 87% of U.S. households; NBC and CBS in 72% and 68%; 257 local affiliates total). The company generates revenue from subscriptions and advertising, with advertising representing a low single-digit percentage of revenue but growing rapidly after launching server-side ad insertion; management expects ad revenue per subscriber above Spotify's published benchmark. fuboTV is forecasting a revenue run rate of over $100 million within a year and plans to use new capital to double office space and its engineering and product teams, open a second headquarters, develop new products and content offerings, and increase marketing. FuboTV is a streaming TV service that targets sports fans by offering a lineup of sports-focused channels and live sports coverage. The company initially focused on soccer but has expanded into dozens of sports channels through deals with Fox and NBC Universal. It distributes apps for iPhone, iPad, Android, Apple TV, Amazon Fire TV and Roku. FuboTV replaced a $10/month soccer skinny bundle with a larger $35 package of more than 55 channels. Before discontinuing the smaller bundle, the company had signed up more than 75,000 subscribers. Financially, FuboTV has raised a total of $75 million since being founded in 2014. The company plans to use new funding to increase marketing spend and develop new products specifically for people watching sports matches and related content. fuboTV offers a sports-first over-the-top bundle of linear sports and entertainment channels, with a strong emphasis on live soccer and multilingual content (English, Spanish and Portuguese). The service has distribution deals with rights holders including Univision Networks, beIN SPORTS, GolTV and Benfica TV, and has recently added entertainment networks such as El Rey Network, Pivot and REVOLT. Launched in January 2015, fuboTV has quickly become the second-largest virtual MVPD in the U.S. and the top provider of live streaming soccer, available across web, mobile and major streaming devices. The company reports more than 40,000 subscribers, a customer base concentrated in millennial males and roughly 30% Latin American. Financially, fuboTV has raised a total of $20.6 million to date, including a $4 million Series A in August 2015 and the $15 million Series B announced here. The Series B proceeds are earmarked to grow the sports-first offering, develop new features, market the service to increase subscribers, and to deepen collaboration with strategic investors. fuboTV is a cloud-based over-the-top (OTT) TV service dedicated to bundling live soccer matches, cable networks, 24-hour club channels, international blocks, series and news into a single subscription platform. Launched in January 2015, the service is available on desktop and devices including Amazon Fire TV, Android, Chromecast, iPad, iPhone, Kindle Fire and Roku. The company carries more than half of the major international soccer leagues through carriage agreements with networks such as beIN Sports, GoITV and Benfica TV, and maintains club partnerships with AJAX Amsterdam, Borussia Dortmund and Everton. fuboTV says it has secured and monetized a substantial amount of live soccer programming and is targeting expanded TV network carriage, platform feature enhancements and content marketing. Financially, the company has raised a total of $5.6 million to date, including the announced Series A. Management plans to use new capital to grow premium sports content, build out technical enhancements to its OTT multi-channel distribution platform and hire key personnel. fuboTV is a cloud-based TV service dedicated to sports that bundles live sports cable networks, 24-hour club channels, international blocks, TV series and news into a single platform for soccer fans. The company has launched an OTT streaming service priced at $6.99/month. The service is available on Roku, Samsung TV, iOS/Android, Amazon Fire TV and via its website. fuboTV closed a $1.6M round of funding to further develop its delivery and sports subscription platform. The article notes the backers remained undisclosed. The piece does not specify the financing instrument beyond a funding round.

Participated · Seed · Jan 2017

The Athletic is a subscription sports publisher focused on in-depth local and national sports journalism. It charges $60/year ($5/month) and has gained over 100,000 paid subscribers (60% under 34) with a 90% retention rate. The company emphasizes fewer, deeper articles aimed at diehard fans, hiring experienced full-time writers (about 300 editorial staff) and roughly 400 contributors. It operates in 47 local markets and reports that most markets are profitable in the first year; all markets over one year old are profitable and most over six months are profitable. The Athletic ties compensation and equity to performance and subscriber acquisition for writers, and uses reader feedback and engagement signals rather than pageviews. The company plans to expand into audio and video while continuing local-market growth and experiments to deepen community engagement. The Athletic is a subscription sports media company focused on delivering local editorial coverage, in-depth analysis, original reporting and storytelling. Launched earlier this year and backed by Y Combinator, the company operates a website and mobile apps. It is currently live in Chicago and Toronto. The Athletic raised $2.3M in seed funding to support its expansion plans. The company intends to use the funds to expand into new cities. The report highlights the company’s editorial focus and digital product presence as central to its growth strategy.

Participated · Series B · Oct 2016

Pluto TV operates a free, advertising-supported streaming service featuring over 100 live channels and on-demand content. The service has partnerships with TV networks, movie studios, publishers and digital media companies, and announced more than 40 content deals in the year cited. Pluto TV is available online, on mobile devices and a range of living-room platforms including Samsung Smart TVs, Roku, Apple TV, PlayStation and Xbox. It reaches about 6 million active viewers per month and generates revenue through advertising. The company has been expanding content and distribution, previously using a $30M Series B to help fuel European expansion. Management has emphasized strategic partnerships with platform owners such as Samsung while continuing to grow its content and distribution footprint. Pluto TV replicates a linear TV experience online by providing a TV‑guide‑like interface that lets users tune into hundreds of channels rather than offering on‑demand catalogs. The service targets cord cutters and aggregates content through more than 75 partnerships with networks, studios, publishers and digital media companies including Sky, NBC, A&E, CBSi, Bloomberg and Paramount. It has distribution deals and preinstalls (such as on Xiaomi Mi Box) and is available on Vizio Cast, Roku, Apple TV, Amazon Fire TV and PlayStation 3/4. Pluto TV acquired Berlin‑based Quazer to establish an immediate presence in Germany and now has a team of about 50. The company reports over 5 million monthly active users, up from 500,000 in Q1 2015, and generates revenue through advertising sold via content and device partners and programmatic channels; monetization began less than a year ago and executives declined to disclose detailed financials. It plans to use new funding to invest in product, content and marketing and to expand further into Europe with the goal of becoming a global destination for free television. Pluto TV operates a free, ad-supported video platform that aggregates online and traditional content into themed, 24/7 channels. The service organizes content into categories such as music, sports, news, entertainment, comedy, lifestyle, tech, art & culture, education and kids. The platform features over 100 channels available for free on any device and is accessible via iOS and Android apps, web, and connected-TV options including Amazon Fire TV, Google Nexus Player & Chromecast and Apple AirPlay. Led by co-founder and CEO Tom Ryan, Pluto TV aims to broaden its content offering and expand availability across web, mobile and connected TVs. The company announced it will use the new funding to continue growing the platform and increase distribution and content breadth. Pluto.TV is an online television platform that aggregates web video and programs it into themed TV channels. Led by CEO Tom Ryan and based in Los Angeles, CA, the company combines technology, data and a team of specialist editors to build channels spanning music, news, sports, comedy, entertainment and niche interests. The service is available in the U.S. across iOS, Android, Google Chromecast, Amazon Kindle Fire, Fire TV and the web. Pluto.TV raised $500K in funding from BSkyB (BSY). The investment is intended to give Sky insight into emerging content trends while allowing Pluto.TV to leverage Sky’s experience in packaging and promoting content.

Participated · Series A · Feb 2016

Naritiv operates a platform connecting brands and advertisers with influencers on Snapchat. It has built a network of more than 300 Snapchat stars and influencers who have collectively delivered over 1 billion branded views. The company connects those influencers with brands such as ABC Family, Coca-Cola, Redken, and Fox to run Snapchat campaigns. Naritiv provides campaign metrics and its technology mines campaign data so brands can track performance beyond Snapchat’s single‑day view limit. Naritiv launched out of the Disney Accelerator, powered by TechStars, in 2014. Prior to this round it raised a $1.2 million seed, bringing total funding to $4.32 million to date, according to Crunchbase. Naritiv pairs brands with Snapchat influencers to run campaigns and provides analytics and reporting tools. The company mines campaign data over time to show brands long-term performance and receives revenue share from influencer partnerships. Naritiv launched out of the Disney Accelerator, powered by Techstars, and its founder is Dan Altmann. It has run campaigns for shows like Pretty Little Liars and brands including Marriott Resorts and Radio Disney, using the Pretty Little Liars campaign as a case study. That campaign amassed more than 800,000 Snapchat followers in three months, more than 140 million total views, and over 215,000 hours of content watched. The company has raised $1.2 million in seed funding from the Disney Accelerator, Greylock Partners, Mucker Capital, and others, and says its main challenge is growing and maintaining a steady supply of Snapchat influencers.