Player’s Health Closes Series A Investment Round To Transform Risk Management And Insurance In Amateur Sports
Player’s Health, a company focused on making sports safer by establishing a new standard of health and safety in sports, fitness, and wellness, has raised their Series A financing round
Minneapolis, MN (July 8, 2019) – Player’s Health has secured funding to support growth and capitalize on existing and new opportunities. The round was led by the London and Philadelphia based, Insurance Technology (InsurTech) specialist investor Eos Venture Partners and Boston-based Sports Tech focused investor Will Ventures.
Player’s Health is a risk management firm specializing in sports, fitness, and wellness for youth-focused organizations. They offer a suite of products covering risk management and insurance services for sports organizations, camps, fitness/wellness organizations, education and faith-based organizations. The company’s purpose is to create the tools necessary to appropriately manage health, injuries, abuse and risk. Currently, Player’s Health has six applications available for organizations, including PH Protect, PH Cover and PH Rehab:
- Player’s Health Rehab is a HIPAA-compliant injury management platform that helps organizations keep athletes safe. Create injury reports, manage concussion return-to-play, communicate updates, and reduce the risk of injuries falling through the cracks, from one app.
- Player’s Health 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. Athletes need our protection from physical, emotional, and sexual abuse. Developed with experts within abuse and sport, Player’s Health has developed a system that helps organizations: implement best practices, implement proper governance, and improve compliance around abuse reporting.
- Player’s Health Cover provides an online insurance quote and buying (click and bind) experience to reduce the traditional high administrative costs and inherent friction associated with purchasing and servicing low cost premium accounts. This provides a new and improved insurance buying experience for amateur sports and other organizations.
“In Will Ventures and Eos Venture Partners, we have a perfect blend of insurance, sports technology, and data aggregation expertise,” said Tyrre Burks, CEO and founder of Player’s Health. “We have found true strategic partners who are as passionate as we are about protecting our youth and creating impact through working with the insurance industry. Both Will Ventures and Eos Venture Partners have invested not only in our growing company, but more importantly, in the vision of a world where health, injuries, and abuse are managed with the greatest care at every level. We are excited and humbled to have Eos and Will as partners”.
Player’s Health is servicing over 120,000 athletes through the platform and is currently working with major companies across multiple industries in sports including ATI, US Club Soccer, and AIG.
Eos Venture Partners, a specialist InsurTech venture capital fund, have been working strategically with Player’s Health since 2018.
“Player’s Health provides a unique solution in a highly fragmented but data-rich environment,” said Jonathan Kalman, Founding Partner at Eos VenturePartners, of the deal. “The affinity partners working with Player’s Health, including sports governing bodies and other sports organizations give them access to over 40 million athletes in the US alone. The ability to transition the traditional insurance relationship to one focused on value added services, with regular interaction with the customer and built around a true partnership is hugely valuable. Our strategic insurance partners are also excited by Player’s Health and are in the process of agreeing to commercial relationships to provide insurance capacity, products and distribution to further strengthening the business.”
Will Ventures, the Boston-based VC co-leading the round, sees its investment in Player’s Health as an opportunity to do well by doing good.
“Sports organizations are in desperate need of modern tools that help protect their athletes,” said Isaiah Kacyvenski, Co-Founder & Managing Partner of Will Ventures and NFL veteran. “Player’s Health’s disruptive risk management platform replaces antiquated, paper-based processes with a modern, streamlined solution, enabling sports organizations to foster a safer environment for athletes of all ages. ”
About Player’s Health
Headquartered in Minneapolis, Minnesota, Player’s Health is a sports services organization that provides digital risk management services and reporting tools to sports organizations to comply with the changing athletic environment and responsibilities. Player’s Health works towards creating 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 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 playershealth.com.
About Eos Venture Partners
Eos Venture Partners is a global independent Strategic Venture Capital Fund focused exclusively on InsurTech, investing in early and growth stage technology businesses that accelerate innovation and transformation across the insurance industry and value chain. Eos focuses exclusively on InsurTech and was founded in 2016 to bridge the “digital chasm” between InsurTech start-ups and traditional (re)insurance companies. Investors in the Eos fund, EVP I, are typically from the insurance sector, forming a close strategic relationship with the Eos team to capture both strategic and financial value from the innovation and technology change in the insurance industry. For more information, visit www.eosventurepartners.com.
About Will Ventures
Will Ventures is an early-stage venture capital firm that leverages the power of sport to change the world. The firm uses sports as a lens to identify novel technologies that will impact large, adjacent markets like the consumer, healthcare and media markets. The firm’s partners utilize their operational expertise, market insight and broad network to create outsized value for sport-centric companies. For more information, please visit www.willventures.tech.
Source: Player’s Health
Tags: funding, InsurTech, Player’s Health Read the original article at Insurance-Canada.ca