YouTube stars Dude Perfect nab nine-figure private equity funding deal
Internet personality group Dude Perfect has raised more than $100 million to expand its reach and create more content, the company announced Monday.
Founded more than a decade ago, Dude Perfect makes videos and other content focused on sports and humor and has amassed a sizable following using viral YouTube videos and clips.
The group received a nine-figure fundraising injection from Highmount Capital, a private equity investment firm focused on technology and media platforms, according to the announcement.
"By partnering with Highmount Capital, we hope to pour gas on the fire and take the Dude Perfect fun that families have witnessed on screens these past 15 years and turn it into real life products and memory-making experiences they can actually touch and feel for themselves," co-founder Coby Cotton said in a 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.