Indoor Pickleball Franchise The Picklr Hits $59 Million Valuation

When you're hot, you're hot. And right now, pickleball as a business is hot, hot, hot.

The Picklr, an indoor pickleball franchise from Utah backed by former NFL star Drew Brees and led by the same people who own the PPA Tour and Major League Pickleball (and Pickleball Central, Pickleball Brackets/Pickleball Tournaments, PickleballTV,  Pickleball.com, and TopCourt), has successfully raised $9 million in its Series B funding round.

This recent investment brings the company’s valuation to $59 million.

Expansion and growth

The Picklr has sold over 300 franchises in the last year, with 98 locations under contract. By early next year, it aims to be present in over 32 states, positioning itself as the largest provider of indoor pickleball clubs worldwide.

The company plans to have over 1,080 pro-style indoor courts by the end of 2025.

Jorge Barragan, CEO and co-founder of The Picklr, expressed his enthusiasm:

"It’s no secret that the game of pickleball has exploded in popularity. 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."

Courts in high demand

Indoor pickleball facilities are in high demand, with The Picklr averaging founder memberships in the 500-600 range for new clubs. Jonathan Fornaci, President and COO of The Picklr, noted the significant interest in the sport and the brand.

The franchise’s promotion strategy includes being featured on the PPA Tour live broadcasts and commercials. Additionally, Pickleball Central’s equipment and Stack Athletics’ performance apparel will be available at all Picklr locations.

Global endeavors

The Picklr is also expanding internationally, with master franchise agreements soon to be announced for Canada, Australia, New Zealand, as well as the European Union.

Investment trends in pickleball

Pickleball's rapid rise has attracted numerous investors.

According to the Association of Pickleball Professionals (APP), over 48 million adult Americans played the sport at least once in the past year. This surge in participation has highlighted the need for more infrastructure, especially courts.

Last month, CityPickle, an urban pickleball provider, received a significant minority investment from The Avenue Sports Fund, managed by former Milwaukee Bucks owner Marc Lasry.

This investment aims to establish more permanent indoor pickleball facilities in New York City and other metropolitan areas.

Other expanding franchises

The Picklr is not the only franchise experiencing growth.

Pickleball Kingdom is expanding with 140 clubs either built or under construction in the U.S. Ace Pickleball Club plans to open seven new clubs this year and aims to have at least 16 franchises operating by the end of the year.

Dill Dinkers, launched in 2022 by Will and Denise Richards, has over 200 locations in development.

The sport's inclusive nature and low impact have also caught the attention of Life Time founder and CEO Bahram Akradi. Life Time has invested significantly in pickleball, including a seven-court complex in New York City, resulting in a 51 percent growth in pickleball players on its courts.

Pickleball’s popularity shows no signs of slowing down, and with significant investments and expanding franchises, the sport is set to reach even greater heights in the coming years.

You have to believe that this pickleball bubble will someday pop, but for now, it's interesting to watch it grow into a massive business.