Forever Network to drive US expansion with $6m Series A funding
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The news: Owner of social publishing brand Basketball Forever, Forever Network has secured a $6 million Series A funding round to expand to the US.
The numbers: Forever Network has seen 28% year on year growth since 2015, and its flagship brand Basketball Forever currently boasts eight million cross-platform subscribers and followers.
The context: The funding round was led by Yolo Investments, with Three Kings Capital, Folklore Ventures and Astralis Capital also participating.
The Series A funding will see Forever Network expand to the US, launch new sports media verticals, and build out its roster of free and monetised games, which will launch in the US market during H2 this year.
The company says that its Basketball Forever brand accounted for 11% of every social action taken in Australia during 2023, beating out Cricket.com.au, the AFL, the NRL and other social media brands in the country.
What they said: “This investment is testament to the massive growth that Forever Network has seen over the past nine years. Born in Australia, the idea quickly grew from an alternative method of covering sport digitally, to a full-blown independent media brand with significant global footprint - that is now taking the next step into launching product that our fans can engage with,” said Alex Sumsky, CEO and co-founder.
The source: Forever Network press release
