What to know about the Series B financing round by Player’s Health:
- RPM Ventures led the Series B raise for the Minneapolis-based insurtech company and included Greenlight Re, Eos Venture Partners, and Will Ventures
- Financial details were not disclosed
- Past financing rounds include:
- $1.5 million in Seed Round funds in 2017
- $4.5 million in Series A funds (this round also included Eos Venture Partners and Will Ventures) in 2019
- The company’s latest expansions include PH Cover (providing online insurance for youth sports organizations) and PH Protect (a web app that allows players, parents, and coaches to anonymously report cases of, “abuse, misconduct, or suspicious behavior”)
- Player’s Health moved its HQ to Minneapolis from Chicago in 2016 and is helmed by Founder and CEO Tyrre Burks
The Quote: Tyrre Burks, Founder and CEO of Player’s Health
“We’re extremely excited about our new partners that helped us close this round and grateful to RPM Ventures for leading the way. This is a huge step for the evolution of our business and it allows us to continue to fulfill our mission of creating a safer environment for athletes and giving sports organizations what they need to ensure proper protection.”
We will have a Follow-Up Five Q&A with Tyrre Burks later today expanding on the CEO’s thoughts of the Series B round, how he thinks data is helping keep players safe, and if COVID-19 has impacted the business. Stay tuned.
In the meantime, listen to our full conversation with Burks on The tech.mn Podcast and read the full release below for more information about Player’s Health and the latest financing round.
MINNEAPOLIS, January 20, 2021 – Player’s Health, the Minneapolis-based insurtech that is transforming the risk management and insurance market for youth sports organizations has raised a Series B financing round led by RPM Ventures and joined by other top Fintech investors, including Greenlight Re and existing investors Eos Venture Partners and Will Ventures.
Player’s Health specializes in three major areas: risk services, injury management, and sports insurance. PH Rehab, Player’s Health’s initial application, helps youth sports organizations manage their athletes’ injuries by creating injury reports, managing concussion return-to-play, communicating updates, and reducing the risk of injuries falling through the cracks.
Player’s Health evolved in 2019 and 2020 to offer sports insurance through PH Cover and managing athlete safety programs with PH Protect.
PH Cover provides an online insurance quote and buying (click and bind) experience specifically designed for youth sports organizations and the insurance industry, enabling
significant reductions in the traditionally high administrative costs and friction associated with purchasing and servicing low-cost premium accounts. Our goal is to continue to revolutionize the insurance industry, which is why PH Cover is a one-stop-shop for sports insurance coverage of any kind, built by our team of athletes and brokers, with the game in mind.
PH Protect is a web and mobile application that allows athletes, parents, coaches, and staff to anonymously and privately report abuse, misconduct, or suspicious behavior within their organization any time anywhere. This critical service was developed with sports and abuse prevention experts, ensuring organizations implement best practices, proper governance, and compliance around abuse reporting.
“We’re extremely excited about our new partners that helped us close this round and grateful to RPM Ventures for leading the way,” said Tyrre Burks, Player’s Health Founder/CEO. “This is a huge step for the evolution of our business and it allows us to continue to fulfill our mission of creating a safer environment for athletes and giving sports organizations what they need to ensure proper protection.”
“Like many markets impacted by insurance, youth sports will be dramatically enhanced by leveraging data and best practices around risk management,” said Adam Boyden, managing director at RPM Ventures. “Players Health is uniquely positioned to improve the lives of athletes, coaches and youth sports organizations and improving insurance coverage while constraining insurance premium growth.”
This round was led by RPM Ventures with participation from Greenlight Re, along with existing investors Eos Venture Partners and Will Ventures.
About Player’s Health
Player’s Health is a sports services organization that provides digital risk management and insurance services to sports organizations to comply with the changing athletic environment and responsibilities. Player’s Health works towards establishing the safest environment for athletes and views the health and safety of athletes as a priority in today’s sports landscape. This requires creating and maintaining products that provide a circle of care for safety, trust, accountability, and accessibility for athletes. In doing so, Player’s Health is a company where the mission drives the business and creates an environment where fun and peace of mind lives in sports. For more information on Player’s Health, visit www.playershealth.com.