A group of well-known online personalities, Dude Perfect, has successfully obtained over $100 million in funding to broaden their audience and produce more material, the company declared on Monday.
Dude Perfect, which was established more than ten years ago, creates videos and other material centered on sports and comedy. They have gained a large following through the use of popular YouTube videos and clips.
The group has received a significant amount of funding from Highmount Capital, a private equity investment firm that focuses on technology and media platforms, as stated in the announcement.
Coby Cotton, a co-founder, expressed the hope that by teaming up with Highmount Capital, they can expand their brand and turn their online content into tangible real-life products and experiences for families to enjoy. Coby Cotton made this statement..
Cotton told Axios the group plans to use the money to build a management team and grow its team of about 25 people, adding that the company is interested in growing its international business and translating some of its content into other languages.
The Wall Street Journal reported that Dude Perfect had revenue of about $25 million in 2022, up from roughly $20 million from the year prior.
Highmount’s investment in the internet influencer group is the latest example of private equity money pouring millions into new forms of online, streaming and new media.
