Players Health raises $60 million
Athlete insurance and risk management provider Players Health has closed a $60 million funding round led by Bluestone Equity Partner, with participation from Mosaic General Partners, RPM Ventures, SiriusPoint and TriplePoint Capital. The investment brings Players Health’s total funding to over $100 million.
Founded in 2012, Players Health originally launched to provide risk management services for youth and amateur sports leagues. Five years ago, the company entered the insurance business and today it says it will reach $80 million in premiums by the end of the year. In 2022, SiriusPoint partnered with Players Health to provide fronting and underwriting capacity, offering a combination of P&C and A&H coverages.
Players Health will use the funding to accelerate its growth on several fronts, including advancement of its AI-powered product personalization, strategic M&A, and expansion of its workforce.
“With more than 440,000 amateur sports organizations and over 60 million people playing organized sports in the United States, the need to prioritize and enhance the safety and wellbeing of athletes has never been greater. This investment and partnership will enable us to continue expanding Players Health’s nationwide reach, fostering a safer, more supportive ecosystem for athletes at every level.” – Tyrre Burks, founder and CEO of Players Health.
“Participatory sports have experienced seismic growth over the past decade, and projections estimate youth sports alone will nearly double to $69 billion over the next six years. This growth, coupled with the rapidly evolving economic landscape of name, image, and likeness in college athletics, creates unprecedented opportunities and challenges for athletes, families, and organizations alike. This funding round underscores the need and opportunity to build the necessary advisory infrastructure to unify and streamline the fragmentation of vendors and services in today’s sports insurance market.” – Bobby Sharma, Founder & Managing Partner of Bluestone Equity Partners.
