Dude Perfect, the five-member comedy and sports YouTube creator company, hauled in more than $100 million in growth capital from private investment firm Highmount Capital — which they plan to use to flex their brand well beyond online videos.
The companies didn’t disclose the specific dollar figure. A source familiar with the funding said the amount committed by Highmount Capital is between $100 million and $300 million. Dude Perfect said it will use the investment to develop new projects and creative partnerships, as well as build a “robust management team to lead the group to new heights.”
One of Dude Perfect’s biggest projects is its forthcoming headquarters facility in Frisco, Texas. First announced more than a year ago, the group describes it as a combination production facility and “family-friendly” entertainment destination, comprising a retail store and new spaces for podcasts and gaming. Original plans for the three-story headquarters, slated to cost as much as $100 million, called for a 330-foot “trick-shot tower,” a Dude Perfect museum, a mini-golf course and restaurants.
Other front-burner initiatives by the YouTuber collective include a multicity international tour; the Dude Perfect streaming app; and the ESPN “30 for 30” documentary “Dude Perfect: A Very Long Shot” focused on the group, set to premiere April 25 at the Dallas International Film Festival.
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The five Dude Perfect dudes — Tyler Toney, Cody Jones, Garrett Hilbert, and twins Coby and Cory Cotton — met as college roommates at Texas A&M University and posted their first trick-shot video in 2009. To date, their channel has generated more than 17 billion views and garnered more than 60 million subscribers. The Dude Perfect team also has a faith-based mission: “We’re about giving back, spreading joy and glorifying Jesus Christ,” they say on their website.
“The mission of Dude Perfect is to serve families with the most trusted entertainment on earth,” Dude Perfect’s Cotton said in a statement. “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.“
New York-based Highmount Capital describes itself as focused on “early growth-stage and middle-market investments in transformative technology, media and growth-oriented platforms.”
“The Dudes have truly captured the hearts and minds of the next generation, pioneering the new creator-led media space and expanding far beyond video and traditional channels,” said Jason Illian, co-founder and general partner at Highmount Capital. “In addition to creating content that garners billions of views every year, which is an impressive feat on its own, the Dudes have built something even more valuable and that is trust — trust with families, brands, and consumers of all ages and backgrounds.”
CAA Evolution served as financial adviser to Dude Perfect and King & Spalding acted as legal adviser. Highmount Capital was represented by law firm Stinson LLP.
Dude Perfect, in addition to popular videos featuring their trademark trick shots, also produces content franchises on YouTube including “Stereotypes,” “Overtime” and “Bucket List.” Beyond content, the Dudes have released books, mobile games, board games and toys, and inked merch, retail, and food and beverage partnerships.
