The Players’ Tribune on Monday announced the "first close of its Series B financing in the amount" of $9.5M, according to Hunter Atkins of FORBES. The round "was led by New Enterprise Associates," though existing investors such as Thomas Tull of Legendary Entertainment "also participated." The new financing will allow former MLBer Derek Jeter's media company to "continue delivering athlete-generated content across a variety of multimedia channels, ranging from written pieces to photography, podcasts, The Players’ Tribune Radio and live, interactive and engaging video." The funds will also allow for the "expansion of The Players’ Tribune’s production and business staff." Players' Tribune President Jaymee Messler said, "NEA has a fantastic track record of helping media and technology companies with long-term growth and development" (FORBES.com, 6/15). BUSINESS INSIDER's Eugene Kim noted NEA General Partner Jon Sakoda "was immediately sold" on the Players' Tribune after Jeter "laid out his vision" during a trip to meet with a Silicon Valley venture capital firms. The Players' Tribune is "still in its early stages," but Sakoda "sees a huge opportunity going forward, especially since it’s led by one of the most successful athletes of all time." Sakoda: "If you have had a celebrated history of Derek’s career, would you really want to bet against the guy?" Kim noted NEA's $9.5M represents the site's "first-ever VC funding" (BUSINESSINSIDER.com, 6/15).
