MMA Startup Raises $28 Million Series B Round With Help From Kevin Hart And Tony Robbins

The Breakdown

• An MMA-style startup called the Professional Fighters League (PFL) has closed a $28 million Series B investment round.
• Notable investors in PFL’s Series B round include Kevin Hart, Tony Robbins and Washington Capitals majority owner Ted Leonsis.
• The PFL previously raised $25 million in a Series A round.

Some Color

The PFL has now raised more than $50 million with some serious celebrities attached to it as well as many venture capital firms, including Elysian Park Ventures and SWaN Ventures. The goal is to bring a unique style of MMA to the masses, with a regular season and playoff system.

Media rights are already in place with NBC and Facebook Live. You may have not yet heard of the PFL, but its first season is wrapping up in August 2018, and with a massive new round of funding, heavy-hitters believe there is real growth potential in the near future.

The inaugural 2018 season had 72 MMA fighters in 6 weight-classes. The Championship, on New Year’s Eve, will feature 6 back-to-back title bouts and a $10 million total prize pool

The Quote

“Just like the success we have found with the Capitals, competing hard in the playoffs and winning a championship is truly a crowning achievement in any sport and fans love it. The PFL sport format is going to bring a major new audience to MMA, which is great for PFL media distribution partners and PFL brand sponsorship partners.” – Ted Leonsis, Majority owner of the Washington Capitals and Washington Wizards