Dude Perfect Secures Over $100 Million in Investment to Expand Brand and Build Headquarters
ICARO Media Group
While the specific dollar figure remains undisclosed, sources familiar with the funding reveal that Highmount Capital committed an amount between $100 million and $300 million. The significant investment will enable Dude Perfect to embark on new projects, forge creative partnerships, and establish a strong management team to steer the group towards greater success.
One of the highlight initiatives on Dude Perfect's agenda is the construction of their upcoming headquarters facility in Frisco, Texas. Originally announced over a year ago, this multifaceted complex is set to feature a production facility alongside a "family-friendly" entertainment destination. The complex will house a retail store, spaces for podcasts and gaming, and exciting attractions such as a trick-shot tower measuring 330 feet, a dedicated Dude Perfect museum, a mini-golf course, and multiple dining options. The construction of this three-story headquarters, estimated to cost up to $100 million, aims to provide fans with an immersive experience.
Alongside the construction plans, Dude Perfect has a multitude of projects in the pipeline. These include a multicity international tour, the development of a streaming app exclusively for Dude Perfect content, and the premiere of a highly anticipated ESPN "30 for 30" documentary titled "Dude Perfect: A Very Long Shot" at the Dallas International Film Festival on April 25. This diverse range of ventures showcases the group's commitment to expanding their presence beyond the realm of online videos.
The five talented individuals behind Dude Perfect - Tyler Toney, Cody Jones, Garrett Hilbert, and twins Coby and Cory Cotton - initially met as college roommates at Texas A&M University. Their first trick-shot video was posted in 2009, and since then, their YouTube channel has amassed a staggering 17 billion views and attracted over 60 million subscribers. Moreover, the group emphasizes their faith-based mission, aiming to spread joy and glorify Jesus Christ in all their endeavors.
Highmount Capital, the New York-based private investment firm, specializes in early growth-stage and middle-market investments in transformative technology, media, and growth-oriented platforms. Jason Illian, co-founder and general partner at Highmount Capital, commended Dude Perfect for their ability to captivate audiences across generations and build trust with families, brands, and consumers from diverse backgrounds. This trust and brand loyalty have been instrumental in Dude Perfect's success.
Throughout their journey, Dude Perfect has diversified their offerings beyond videos, expanding into books, mobile games, board games, toys, and securing merchandising, retail, and food and beverage partnerships. This strategic approach has elevated their brand and further solidified their position as pioneers in the creator-led media space.
Financial advisory services for Dude Perfect during this investment round were provided by CAA Evolution, while legal advisory was offered by King & Spalding. Highmount Capital was represented by the law firm Stinson LLP.
With the infusion of over $100 million in investment capital, Dude Perfect is poised to elevate its brand to unprecedented heights and bring the unforgettable experiences that fans have enjoyed on screens over the past 15 years to tangible and immersive real-life products.
Note: The article has been written using only the information provided.