The Chicago-based company will use funding from Technology Crossover Ventures to fuel a global network and boost technology offerings
CHICAGO, July 18, 2014
CHICAGO, July 18, 2014 /PRNewswire/ -- dough, Inc., the combined entity of tastytrade and dough.com, announced today $25 million in new funding from Technology Crossover Ventures (TCV). The funding will be used to add on-air talent for the tastytrade network, increase technology and development resources for the dough.com platform, and introduce content to international markets.
"We're excited to be at this stage of our growth in just a few short years. This funding will help accelerate the expansion of our award-winning content and technology," said Kristi Ross, co-CEO of dough, Inc. "Our roadmap takes us to Singapore and Canada as a start, working towards expanding programming, and building a new suite of financial tools to reach a broad demographic that is eager to increase its financial literacy and embrace our style of investing."
dough, Inc. encompasses tastytrade, the online financial network, and dough.com, the financial engagement platform. Since tastytrade launched in 2011, the company has become the fastest growing digital financial content provider, with a unique mix of investable market information and beginner to advanced investment strategies, all delivered by entertaining personalities with an exceptional depth of knowledge about the markets. The company currently produces eight hours of original, live programming each weekday, has an extensive library of archived material, and provides an easy-to-use visual trading platform on dough.com.
"This funding is further validation of our vision, which is to transform the way people invest their money with our content and technology," added Tom Sosnoff, co-CEO of dough, Inc. "Our network delivers matchless financial content, our development team creates cool technology with a fast delivery cycle, and we support our viewers like no one else. We're poised for incredible growth, and it's great to put the band back together."
TCV is a leading Silicon Valley-based provider of growth capital to technology companies. As part of this transaction, John Rosenberg, TCV general partner, will join the company's board of directors.
"TCV's mission is to invest in world-class management teams who are reshaping industries with cutting-edge technology and a disruptive business model," said Rosenberg. "The investment in dough represents our second opportunity to work with Tom and Kristi, two of the foremost innovators in financial technology. We are delighted to partner with them once again and support the dough team as they transform the way consumers interact with financial media and investment platforms.
About dough, Inc. dough, Inc. includes tastytrade, the fastest growing online financial network, and dough.com, a highly visual investing and financial education platform. tastytrade was founded in August 2011 and currently produces eight hours of original, live programming every weekday, with 7 main shows and over 40 segments. All tastytrade content is free and accessible through video on demand 24/7. dough.com launched in January 2014 and is the first platform to make trading and investing mobile. tastytrade and dough.com were designed to appeal to various investment levels, from beginner to active, all with a mission to increase financial literacy around investing. tastytrade distributes all its shows through www.tastytrade.com, www.dough.com, iTunes, Apple TV, Apple Radio, Roku, Amazon Fire TV, trading platforms, YouTube, and through the #1 financial grossing app in iTunes, Bob the Trader.
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, GoDaddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, and Zillow. TCV is headquartered in Palo Alto, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.