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Players' Tribune Closes $40M In Series C Financing, Including Athlete Investments

The Players' Tribune announced today it has successfully closed $40M in Series C financing, the largest round of funding in the media company's history. The round was led by venture capital and growth equity firm IVP. GV (formerly Google Ventures) and previous lead TPT investor New Enterprise Associates (NEA) also participated in the funding round. TPT additionally announced that dozens of athletes are also investors in the round, but did not name the athletes. TPT did say that about $9M, or more than 20%, of the $40M came from athlete investors. TPT was launched by former MLBer Derek Jeter in October '14 to give players a platform to share stories in their own words. The new financing will allow TPT to grow its content offerings and expand its video production, sales and editorial operations, while also developing new distribution and revenue opportunities. TPT currently employs about 50 full-time employees and that number is expected to grow. TPT's previous round of Series B financing was $15M and was announced in October '15. NEA, Jeter and outgoing Legendary Entertainment Chair & CEO Thomas Tull were the first investors in TPT. “This investment will enable us to test new ways across a variety of platforms to help athletes tell their stories, and to create immersive content that brand and strategic partners want to support," said TPT President Jaymee Messler. "IVP has a strong background in growing tech and media companies, and is passionate about what we are doing at TPT." With $5.4B of committed capital, IVP is known as a later-stage venture capital firm. IVP since '80 has invested in over 300 companies, 103 of which have gone public.

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