Swerve TV LLC, a Los Angeles-based independent programmer of live sports on free ad-supported streaming television (FAST), raised $2.5 million in its Series A financing round led by Scott Galloway, a professor at the New York University Stern School of Business and a co-founder of Prof G Media. The new capital will fund the company’s expansion plans, including the launch of additional channels, deepening the distribution with tier-one FAST platforms, and improving Swerve TV’s third-party FAST channel services for leagues and media brands who want to monetize and promote their content.
“FAST is one of the most compelling growth stories in media, and live sports is its strongest use case. Swerve TV has proven traction, deep industry relationships, and a clear vision for scaling into a next-generation programming network,” said Galloway, who was also one of the principal investors in the round, in a statement.
According to Comscore, an American-based global media measurement and analytics company, the total number of hours watched across major FAST services grew by 43% year-over-year, highlighting the increasing adoption of free ad-supported streaming among audiences. End-to-end market research technology and consulting business Grandview Research has also projected that the global FAST market will grow from $9.73 billion in 2024 to $40.20 billion by 2033 in the US, as cord-cutting, connected-TV adoption, and advertiser demand for premium, brand-safe live content continue to progress.
Swerve TV chief executive officer and co-founder Steve Shannon said Galloway’s strategic investment in the company is a “powerful validation of our strategy to invest in the massive opportunity in free, ad-supported television.”
Founded in 2021, Swerve TV is a next-generation sports television company focused on live events and community-driven fandom. It operates Swerve Combat, the top independent combat-sports FAST channel in the US, and Swerve Sports, a fast-growing channel dedicated exclusively to women’s sports. Both channels deliver hundreds of live events annually across more than 20 major streaming platforms, including Roku, Prime Video, LG, and others.