League One Volleyball (LOVB) has raised $100 million in a new funding round led by Atwater Capital, a women-founded private equity firm focused on media and entertainment. Existing investors Ares Management and Left Lane Capital also contributed. The investment comes as LOVB prepares to launch its professional league, LOVB Pro, in January.
LOVB was founded in 2020 by Kevin Wong, Katlyn Gao, and Peter Hirschmann. The organization has built a network of clubs across the U.S. to develop a grassroots-to-pro pipeline. The new league will debut with six teams: Atlanta; Austin, Tex.; Houston; Madison, Wis.; Omaha, Neb.; and Salt Lake City. The league features 17 Olympians from the Paris Games, including 10 members of Team USA’s silver medal-winning squad.
Katlyn Gao, LOVB’s CEO, believes LOVB Pro could become “the NBA of volleyball,” keeping top American players at home and capitalizing on the sport’s growing popularity in the U.S. The league has a media rights deal with ESPN, and Adidas is the official uniform supplier.
The $100 million investment will help LOVB continue building its ecosystem for women’s and youth volleyball, supporting both the community and the new pro league. The league also has support from high-profile investors, including Kevin Durant, Jayson Tatum, Candace Parker, Lindsey Vonn, Linda Henry, Amy Schumer, and Chelsea Handler.
College volleyball’s popularity is surging, with record-breaking attendance and TV viewership. LOVB Pro aims to harness this momentum and establish a lasting, successful professional volleyball league in the United States.