Apollo Participates in Largest Investment in Pickleball History: Pickleball Inc. Secures $225 Million in Funding
On May 1, pickleball ecosystem company Pickleball Inc. announced it had secured a new round of funding worth $225 million. The investors are Apollo Sports Capital, the investment platform of asset management giant Apollo, and billionaire Tom Dundon, owner of the NBA's Portland Trail Blazers and the NHL's Carolina Hurricanes.
According to CNBC citing sources familiar with the matter, Pickleball Inc. is valued at $750 million in this round. To date, the company has raised a total of $315 million. This transaction is also the largest investment in the history of the pickleball industry.
Pickleball Inc. is the new parent company of two major events: Major League Pickleball (MLP) and the PPA Tour. It is reported that professional pickleball tours are growing rapidly, with MLP and PPA Tour projected to generate a combined revenue of $74 million in 2026.
Above: Two pickleball stars Anna Leigh Waters and Ben Johns in the PPA mixed doubles final in February
Following this round of funding, Pickleball Inc. will take over Tom Dundon's previous pickleball asset portfolio, including Pickleball Central, a leading pickleball equipment website founded in 2006; PickleballTournaments.com, an event SaaS software; and Just Courts, a pickleball court installer, further enhancing its pickleball ecosystem.
Pickleball Inc. CEO Connor Pardoe said: "This investment allows us to fully integrate the sport into a unified ecosystem—bringing together professional pickleball, consumer products, technology, and media under one platform. By bringing together the best companies in the field, we are creating an end-to-end experience for every pickleball enthusiast."
Al Tylis, CEO of Apollo Sports Capital, said, "Pickleball is one of the fastest-growing sports in the world, attracting players and fans of all ages, and we are excited to make this structural investment. This is a rare opportunity to support the consolidation of these assets, effectively reimagining how a professional sports league can be built on a single ecosystem and platform to drive its growth. We believe the company now has the resources needed to reach the next level, as it has proven to be one of the most successful emerging sports leagues of the past decade."
| Source: Official press release; CNBC
| Image credit: PPA