US-based sports insurance and risk management platform Players Health has raised $28m in a funding round co-led by SiriusPoint and Mastry Ventures.
Players Health’s existing investors RPM Ventures, EOS Venture Partners, and Will Ventures also participated in the latest round.
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Players Health plans to use the money to augment technology and increase the team size to expand its portfolio of insurance offerings.
Founded in 2016, the platform uses technology, data insights, risk management coupled with a suite of insurance products to cover young athletes.
SiriusPoint COO and president of insurance & services Prashanth Gangu said: “Players Health uses technology to allow sports organizations and athletes to instantly assess risks. We see enormous potential and value in the Players Health platform and feel great about aligning SiriusPoint with Players Health’s goal of creating the safest environment possible for kids to play the sports they love.”
In addition to the investment, speciality re/insurer SiriusPoint will provide fronting and underwriting capacity to Players Health, giving it access to a combination of property & casualty and accident & health covers.
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By GlobalDataPlayers Health founder and CEO Tyrre Burks said: “By expanding our partnerships, we expand the roster of guardians and the safety net of accountability for the increasing number of youth athletes.”
Players Health group president Naveen Anand said: “Partners like SiriusPoint and Mastry are helping make a positive impact on the youth sports market at a critical moment for athlete safety.
“Their support will enable us to continue to bridge the gap between risk management and insurance through intuitive, accessible technology partnered with a comprehensive suite of insurance products.”
