Players Health Closes $60 Million Series C
Players Health, the Minneapolis-based sports tech startup founded by former pro football player Tyrre Burks, closed a $60 million Series C funding round, the company announced Wednesday.
Players Health offers digital risk management services and insurance products to sports organizations. This round, led by New York-based Bluestone Equity Partners, brings Players Health’s total funding to more than $100 million. Other investors in the round include Mosaic General Partners, RPM Ventures, SiriusPoint, and TriplePoint Capital.
The company said it will use the money to advance its AI-powered product personalization, for strategic mergers and acquisitions that broaden market reach and expand capabilities, and to grow its workforce.
“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,” Bluestone Equity Partners founder and managing partner Bobby Sharma said in a statement. “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.”
Players Health’s current customer base includes USA Softball, 3-Step Sports, RCX Sports, American Youth Soccer Organization, and Orangetheory.
“This started 10 years ago with a mission to create the safest and most successful environment possible for an athlete to play the sport that they love,” Burks said in video posted Wednesday, from the NFL Flag Summit in Dallas, on LinkedIn. “Sports was a safe place for me and it saved my life. I just feel like I have a huge responsibility to give back to it.”
Burks played college football for Winona State and went on to the Canadian Football League. A series of injuries cut his playing days short, which got him thinking about ways to improve athlete safety—particularly in youth sports. (Burks shared his story on a 2022 episode of By All Means podcast.) Shortly after starting Players Health more than a decade ago, he moved the company from Chicago to Minneapolis to participate in an accelerator program run by successful Minnesota-based sports tech company, SportsEngine. He never looked back.
Said Burks, “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.”