The financing, led by US West, brings the company's total funding to $32 million, one of the largest investments in an Internet content company.
"Through our relationship with US West, we'll be expanding our brand and content," said Ron Tolliver, chief financial officer. "We have so many opportunities that have been presented to us that it's difficult to find the resources to take advantage of them all."
The investment also comes with a strategic agreement that allows SportsLine to distribute its interactive sports content through US West's cable network. US West is undergoing a merger with Continental Cablevision, which will make it the nation's third largest cable television system.