Dude Perfect, a five-member comedy and sports YouTube creator company, has raised more than $100 million in growth funding from private investment firm Highmount Capital. The company plans to use the funding to expand its brand beyond online video.
The companies did not disclose the specific amount. Highmount Capital has committed between $100 million and $300 million, according to people familiar with the financing. Dude Perfect said it will use the investment to develop new projects and creative partnerships, as well as build a “strong management team to take the group to new heights.”
One of Dude Perfect's biggest projects is its planned headquarters facility in Frisco, Texas. First announced over a year ago, the group describes the facility as a combination production facility and “family-friendly” entertainment venue, consisting of retail and new space for podcasts and gaming. doing. Original plans for the three-story headquarters were to cost as much as $100 million and include a 330-foot “trickshot tower,” a Dude Perfect Museum, a mini-golf course, and a restaurant.
Other frontline efforts by the YouTuber collective include a multi-city international tour. Dude Perfect streaming app. ESPN's “30 for 30'' documentary “Dude Perfect: A Very Long Shot'' will also focus on the group and will premiere at the Dallas International Film Festival on April 25th.
The Dude Perfect quintet, Tyler Toney, Cody Jones, Garrett Hilbert, and twins Coby and Corey Cotton, met as roommates at Texas A&M University and posted their first trick shot video in 2009. To date, their channel has been viewed 17 billion times and has over 60 million subscribers. The Dude Perfect team also has a faith-based mission. “We aim to give back, spread joy, and glorify Jesus Christ,” the website states.
“Dude Perfect's mission is to provide families with the most trusted entertainment on the planet,” Dude Perfect's Cotton said in a statement. “By partnering with Highmount Capital, we are pouring gas on the fire and bringing the fun of Dude Perfect that families have watched on screen for the past 15 years into a tactile, real-life product and memory-making experience. We want to turn it into an experience” themselves. ”
New York-based Highmount Capital describes itself as focused on “early growth stage and mid-market investments in innovative technology, media and growth-oriented platforms.”
Jason Irian, co-founder and general partner of Highmount Capital, said: “Due's is truly capturing the hearts and minds of the next generation, pioneering a new creator-driven media space that goes far beyond video and traditional channels. It is expanding,” he said. “In addition to creating content that gets billions of views each year, which is an incredible feat in itself, Dew's is committed to something even more valuable: trust, family, brands, people of all ages and We built trust with consumers in the background.”
CAA Evolution served as financial advisor to Dude Perfect, and King & Spalding served as legal advisor. Highmount Capital was represented by the law firm Stinson LLP.
In addition to popular videos featuring his trademark trick shots, Dude Perfect also produces content franchises on YouTube, including “Stereotypes,” “Overtime,” and “Bucket List.” Beyond content, Dudes has released books, mobile games, board games, toys, ink merchandise, retail stores, and food and beverage partnerships.