Digital football community, Dugout (Dugout.com) has secured £8.2 million in its latest venture funding round, which the company will use to expand its technology offering and further support growth in the MENA (Middle East/ North Africa) region.
Dugout’s funding round has been led by renowned US sports investors the McCourt brothers (David and Frank), who between them own the LA Marathon and French Ligue 1 football club Olympique De Marseille.
Furthermore, David McCourt is also the founder of ALTV.com, one of the fastest growing free streaming services for the MENA region. Backing Dugout David McCourt commented
“Dugout represents an excellent opportunity to capitalize on two significant global trends. Firstly, the huge demand for great, original and highly-personalized content. Secondly, the soaring popularity of football in practically every market. Dugout has already done what many thought impossible by bringing the world’s top clubs together in one shared enterprise. Now, we want to use this excellent foundation to grow a truly iconic company that inspires fans and brands the world over.”
“Our collaboration with Dugout will also enhance the company’s tech capabilities and enable it to grow its audience in strategically important markets. For example, the partnership between Dugout and ALTV will deliver exclusive access to original content for football fans across the Middle East and North Africa.”
The Dugout platform seeks to revolutionise football content, and day-to-day audience engagement with clubs, athletes and brands. Dugout has created a football first social community, in which participating members can upload exclusive videos, content, news, games, information to global audiences.
Football clubs that have launched Dugout communities include; Real Madrid, Barcelona, Bayern Munich, Chelsea FC, Liverpool and Arsenal.
Elliot Richardson, Founder and Chairman of Dugout, commented on securing the firm’s latest funding round;
“We are delighted to have secured both the Series A funding round and strategic capital investment, led by Frank and David McCourt. Frank and David bring with them decades of commercial success, experience and entrepreneurial zeal – they are fantastic partners as we move into the next phase of our development as a business.”
“We’re thrilled with how popular the platform has proven so far with fans, as well as the brands and commercial partners we’ve brought into the fold. This investment keeps that momentum going and partnerships with innovators like ALTV and Alchemy Media both enhance our technology offering and open up key markets like the Middle East and North Africa, where we know our club partners have such huge support.”