AllCity Network, the rapidly growing digital local sports company based out of Denver, has raised another $12 million in Series B funding and will soon launch in Dallas, its fifth market. The news comes from sports business writer Joe Pompliano, who is also an investor in the company.
According to Pompliano, this round of funding was led by TEGNA, the expansive public broadcast company. The investment and partnership will also give AllCity content promotion and TV distribution in cities where TEGNA and AllCity both operate.
AllCity previously raised more than $9 million in a Series A round led by individual investors in sports including retired NBA athletes Andre Iguodala and Chauncey Billups, along with venture capital firms in San Francisco and London.
The company said it would use that funding round to develop free, ad-support streaming television (FAST) channels. Those will launch soon, per Pompliano. AllCity CEO Brandon Spano previously said the company wants to form partnerships with local teams to be the digital partner for radio and other content.
AllCity has said for months that all four of its current outlets in Denver, Phoenix, Philadelphia and Chicago are cash flow positive or on their way. Pompliano reported the new outlet in Dallas will launch with eight pre-sold advertising partners.
Pompliano added that AllCity also recently signed a “multimillion-dollar” deal with Bet365 that will make the UK-based betting operator the exclusive sports betting partner of AllCity.
The new outlet — DLLS, according to Pompliano — will be highlighted by longtime NBA insider Marc Stein.
Stein confirmed the news on X on Monday.
My pal @JoePompliano had it this AM: @ALLCITY_Network is coming to Dallas and I’ll be contributing lots.
Inspired by the ace podding of @Adam_Mares and my old teammate @LegsESPN and great NBA coverage in four cities already … can’t wait to talk hoops with a stacked DLLS squad!
— Marc Stein (@TheSteinLine) August 19, 2024
Sources tell Awful Announcing that DLLS poached Mavericks writer Tim Cato from The Athletic and Bobby Karalla from Mavs.com, as well as local radio hosts Kevin Gray to cover the Mavs and Jeff Cavanaugh to cover the Cowboys.
AllCity has not shown a fear of competing in big sports markets, so DLLS will be nothing new. By spending big to lure popular local personalities, AllCity can bring in these hosts’ audiences and hit the ground running.
With more money to spend, expect the company to pop up in more markets before long and potentially expand its national network, which it launched last year.
About Brendon Kleen
Brendon is a Media Commentary staff writer at Awful Announcing. He has also covered basketball and sports business at Front Office Sports, SB Nation, Uproxx and more.