THE PICKLR, INDOOR PICKLEBALL FRANCHISE, CLOSES SERIES B FUNDING WITH $59 MILLION VALUATION

GLOBAL LEADER IN INDOOR PICKLEBALL CLUBS HAS SOLD OVER 300 FRANCHISES

KAYSVILLE, Utah, June 20, 2024 /PRNewswire/ -- The Picklr, North America's fastest-growing indoor pickleball franchise, closed their Series B financing with a valuation of $59 million, bringing the total raised by The Picklr to $9,000,000. Led by Pickleball Inc., the parent company to the largest pickleball brands in the world, including the Carvana Professional Pickleball Association (PPA Tour), Pickleball Central, Pickleball Brackets/Pickleball Tournaments, PickleballTV, Pickleball.com and TopCourt, the Series B funding ensures rapid growth among several pickleball sectors and solidifies The Picklr's place among top pickleball franchises for both franchisees and pickleball enthusiasts.

In just over 12 months, The Picklr has sold over 300 franchises, with 92 locations under contract. 38 Picklr locations will open in 2024, with 72 new locations coming in 2025. In the next nine months, The Picklr will have all new locations in Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Louisiana, Maine, Massachusetts, Michigan, Mississippi, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Texas, Tennessee, Utah, Vermont, Virginia and Washington. By early 2025, The Picklr will have locations in more than 32 states, securing their position as the largest provider of indoor pickleball clubs globally.

"It's no secret that the game of pickleball has exploded in popularity," said Jorge Barragan, CEO of The Picklr. "Guided by strong corporate leadership and inspired by our enthusiastic team of franchise owners, The Picklr heads into this next chapter with an eye on bringing even more courts and a strong, like-minded community to pickleball players worldwide. The Picklr will have over 1080 pro-style indoor courts available by the end of 2025, and with the largest pickleball database in the United States, we look forward to rapid membership growth at all locations."

As the only pickleball franchise partnered with Pickleball Inc., The Picklr will be promoted on the Pro Pickleball Association Tour (PPA Tour) and featured on live broadcasts, including commercials. Pickleball Central, the leading pickleball superstore, will now be at all Picklr locations, making demos and pre-releases of new pickleball equipment available to Picklr players first. Stack Athletics, the industry leader in pickleball-specific performance apparel and sister company to Picklr, will also be sold at all Picklr locations.

"Pickleball Inc. represents the best in the game," said Connor Pardoe, CEO of Pickleball Inc. "Our partnership with The Picklr has allowed us to keep pace with the rapid growth of the game as we work together to bring access to high-quality outdoor-style surfacing, a complete pro shop powered by Pickleball Central, unlimited league play, tournaments, and open play to all of those who love the sport"

ABOUT THE PICKLR:
At The Picklr, pickleball is more than just a sport; it's a lifestyle that fosters community, competition, and fun. With nearly 200 state-of-the-art clubs, professional coaching, and a vibrant atmosphere, The Picklr offers an unparalleled pickleball experience for players of all skill levels. All locations provide professional-grade outdoor surfacing, best-in-class technology, and access to free leagues, tournaments, and clinics. Follow The Picklr on Instagram, X, LinkedIn, Facebook, and TikTok for news on locations and tournaments, or visit https://thepicklr.com/franchise/ to learn more about owning a franchise.

Media Contact:
Lauren Renschler
William Raymond Communications
[email protected]
310-463-0863

SOURCE The Picklr