{"id":20746,"date":"2023-11-14T13:37:53","date_gmt":"2023-11-14T13:37:53","guid":{"rendered":"https:\/\/mysourcefunding.com\/marketing\/allcity-raises-9-4m-from-andre-iguodalas-mosaic-fund\/"},"modified":"2023-11-14T13:37:55","modified_gmt":"2023-11-14T13:37:55","slug":"allcity-raises-9-4m-from-andre-iguodalas-mosaic-fund","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=20746","title":{"rendered":"AllCity raises $9.4m from Andre Iguodala\u2019s Mosaic fund"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"style__InlineSubscribeWrapper-sc-6c5f8bb2-1 ejIYkL\">\n<div class=\"style__Container-sc-6fdcc87e-0 style__RoundedContainer-sc-6c630ac0-0 iTWzCH wGFGp\">\n<h5 class=\"dist__StyledText-sc-630f0a6f-12 klywaN inline-subscribe\">Get marketing news you&#8217;ll actually want to read<\/h5>\n<p class=\"dist__StyledText-sc-630f0a6f-12 djCKmk inline-subscribe\">Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides.<\/p>\n<\/div>\n<\/div>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">AllCity Network, a nationwide digital sports network that makes podcasts and videos, has raised $9.4 million in Series A funding led by 2015 NBA Finals MVP Andre Iguodala\u2019s Mosaic fund, AllCity co-founder and CEO Brandon Spano told Marketing Brew.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">The cash injection will bring the company\u2019s total raised to about $12.4 million with the goal of doubling the size of the company. The funds will be used to set up free ad-supported streaming (FAST) video channels early next year, hire local sales directors, and help support the creation of another local network, Spano said. (He didn\u2019t say <em>where<\/em> exactly the new local network would launch.)<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">\u201cWe want there to be a full-time, 24-hour city-specific TV channel for every sports fan,\u201d Spano said.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">The funding marks one of the first major investments from Iguodala\u2019s VC fund. Iguodala announced his retirement from the NBA in late October, and announced Mosaic shortly afterward. It has also invested in Vessel, a prefab modular home builder, and the management firm Athletes First.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">With local sports networks in Denver, Chicago, Phoenix and Philadelphia, and a recent push into national shows, AllCity deploys a streaming-first approach, releasing near-daily podcasts and video content about professional sports teams around the country. In Philadelphia, at least, it\u2019s taken a page from The Athletic\u2014which was VC-backed before it was acquired by the New York Times\u2014by hiring already-established local reporters and personalities, and making them the faces of local operations.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">Spano believes that AllCity, which was founded in 2014 in Denver, can serve as an alternative to sports talk radio and regional sports networks.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">\u201cThe actual infrastructure of legitimate local sports coverage and entertainment is crumbling inside of every city,\u201d Spano told us. When asked if AllCity\u2019s hiring strategy could be contributing to that, he said he \u201cdoesn\u2019t necessarily think so\u2026We try to get the best people that we can. We focus on us, and we do what we do.\u201d<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">By relying on multiple revenue streams like merch sales and events in addition to advertising, Spano\u2019s hope is to avoid the fate of VC-backed media companies that can\u2019t find a way to build sustainable businesses. The focus as of now, he said, is to get its first three networks\u2014Denver, Phoenix, and Chicago\u2014to profitability.<\/p>\n<p class=\"dist__StyledText-sc-630f0a6f-12 eHEXyM\">The company had a total audience of 17 million in the third quarter, Spano said, with 13 million watching the network\u2019s video content. For reference, AllCity Philadelphia\u2019s YouTube channel, which debuted in September, has about 10,000 subscribers. AllCity Denver\u2019s YouTube page, which started in 2015, has about 64,000 subscribers.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketingbrew.com\/stories\/2023\/11\/13\/allcity-raises-series-a-led-by-recently-retired-nba-star-andre-iguodala-s-mosaic-fund?utm_source=&#038;utm_medium=syndication&#038;utm_campaign=feed\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Get marketing news you&#8217;ll actually want to read Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides. AllCity Network, a nationwide digital sports network that makes podcasts and videos, has raised $9.4 million in Series A funding [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[78],"tags":[],"class_list":{"0":"post-20746","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-marketing"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AllCity raises $9.4m from Andre Iguodala\u2019s Mosaic fund | Brandiary<\/title>\n<meta name=\"description\" content=\"Get marketing news you&#039;ll actually want to readMarketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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