In a seismic shift for the sport of volleyball, League One Volleyball (LOVB) announced Thursday that it has secured $100 million in new funding from a trio of major investment firms. The sizable capital injection comes just two months before LOVB is set to serve up its highly-anticipated professional league, marking a new era for volleyball in the United States and beyond.
Leading the investment round is Los Angeles-based private equity firm Atwater Capital, with established LOVB investors Ares Management and Left Lane Capital also substantially upping their stake in the budding sports empire. The fresh funding builds upon the $60 million that LOVB had previously raised from a star-studded group of backers including Olympic ski champion Lindsey Vonn, WNBA legend Candace Parker, NBA superstar Kevin Durant, and comedy luminaries Amy Schumer and Chelsea Handler.
With a war chest now exceeding $160 million, LOVB appears poised to revolutionize the volleyball landscape and cement the sport’s status as a major professional attraction in the mold of basketball, football, and soccer. As volleyball continues its rapid rise in both participation numbers and fan interest, LOVB’s investors are betting big that the time is ripe for the sport to soar to new heights of popularity and profitability.
A Groundbreaking Pro Volleyball League
At the heart of LOVB’s ambitious vision is its new professional league, set to debut on January 8th with six teams spanning the country from Atlanta to Omaha. In a remarkable show of star power, the league has already signed 17 Olympians, including a staggering 10 members of the United States national team that claimed silver at the 2024 Paris Games.
The LOVB Pro league will mark the third professional volleyball circuit in the US, alongside Athletes Unlimited and the recently-formed Pro Volleyball Federation. However, LOVB’s financial muscle, elite talent pool, and major media partnerships appear to give it a significant head start in the race to become the premier destination for the sport’s top athletes and fans.
“As the sport of volleyball continues to grow not just in size but in popularity, we are humbled to be rolling up our sleeves alongside leading investors like Atwater, Ares and Left Lane Capital to enable volleyball to become the next major league,” said LOVB co-founder and CEO Katlyn Gao.
The league has already inked a substantial broadcast deal with ESPN, which will air 10 matches on its linear networks and stream an additional 18 on its ESPN+ platform. The partnership with the self-proclaimed “worldwide leader in sports” is a major coup for LOVB and a clear signal of volleyball’s rising status in the sports media landscape.
Building a Volleyball Empire from the Ground Up
While the launch of the professional league is understandably generating the most buzz, it’s just one facet of LOVB’s impressively-constructed volleyball ecosystem. Founded in 2020, the company has quickly become the largest operator of junior volleyball clubs in the United States, boasting 58 clubs across 26 states and 66 locations that collectively serve over 16,000 youth athletes.
This sprawling club network allows LOVB to identify and cultivate the most promising young volleyball talent from an early age. The company reports that over 600 of its club alumni are currently competing at the collegiate level, providing a fertile recruiting ground for the pro ranks.
By controlling the sport’s pipeline from the grassroots to the elite professional level, LOVB is positioning itself to be the undisputed leader in all things volleyball. It’s a bold, vertically-integrated approach that has the potential to transform the sport’s landscape in the US and beyond.
Investors Betting Big on Volleyball’s Ascent
The $100 million cash infusion from Atwater, Ares, and Left Lane represents a resounding vote of confidence in both LOVB’s business model and the overall trajectory of volleyball as a professional sport and commercial product. For the investors, the decision to back LOVB was driven by a combination of the company’s strong management team, its already-impressive market share in the youth volleyball space, and the untapped potential of the sport as a whole.
“Volleyball is at an inflection point, and LOVB is uniquely positioned to be the catalyst that propels the sport to new heights,” noted a source close to the investment firms involved in the funding round. “With its unmatched scale, resources, and talent, LOVB has all the ingredients to build a truly iconic sports league and brand.”
The investor enthusiasm is backed up by the numbers. According to the Sports & Fitness Industry Association, volleyball participation has grown by nearly 10% in the US over the past five years, with especially robust growth at the youth level. Globally, the sport boasts over 900 million fans and is a mainstay of the Olympic program, where it consistently ranks as one of the most-watched events.
As the profile of sports like soccer and Formula 1 racing have soared in recent years thanks to savvy marketing and increased media exposure, investors are wagering that volleyball is poised for a similar breakout moment. With LOVB leading the charge, the future of professional volleyball in the US looks brighter than ever.
The Road Ahead for LOVB
Armed with ample funding and a rapidly-expanding footprint in the volleyball world, LOVB’s immediate focus will be on ensuring a successful launch for its flagship professional league. Key priorities include finalizing team rosters, securing additional sponsorships and media partnerships, and driving ticket sales and fan engagement in the six inaugural markets.
Looking further ahead, LOVB has outlined ambitious plans to expand the pro league to as many as 12 teams by 2026, solidify its dominance in the youth volleyball market, and explore opportunities to bring its brand of elite volleyball to international audiences. With the sport already immensely popular in volleyball hotbeds like Brazil, China, and Italy, the potential for global growth is tantalizing.
As LOVB charts its course to becoming a volleyball juggernaut, all eyes will be on the company’s ability to execute its vision and deliver a truly compelling product both on and off the court. If the early signs are any indication, the future of professional volleyball may very well run through League One.
