Sports Media Report
TOGETHXR — the trailblazing women’s sports media and commerce brand co-founded by world-renowned professional athletes Alex Morgan, Chloe Kim, Simone Manuel, and Sue Bird — announced Thursday that the company has achieved profitability and hit major growth and revenue milestones, including having increased its valuation twofold since its last raise. A first mover in the women’s sports media ecosystem and the purveyor of the Everyone Watches Women’s Sports™ slogan, TOGETHXR has leveraged the unprecedented visibility and engagement in women’s sports to triple its revenue year over year and cement itself as the fastest-growing brand in the women’s sports space.
TOGETHXR also announced Thursday that it has taken in growth capital from an impressive array of new and existing backers. The raise, led by co-founder Alex Morgan’s Trybe Ventures, serves to bolster the company’s continued expansion and increased dominance in the rapidly expanding women’s sports marketplace. These new institutional investors — including Susan Lyne’s BBG Ventures, Olivia Walton’s Ingeborg Investments, Vansa Chatikavanij’s Present Ventures, Heraean Capital, and LEAD’s Locker Room Capital — will provide strategic advice and counsel to TOGETHXR’s existing ownership group in addition to an influx of capital.
Alex Morgan, co-founder, TOGETHXR: “In 2019, TOGETHXR was an idea pitched on a whiteboard in a Santa Monica office. The vision was to build a media company focused exclusively on women’s sports that would tell the unheard stories of female athletes. As we celebrate TOGETHXR’s four-year anniversary, I am incredibly proud to announce this remarkable group of investors who will help drive the growth of our company and the women’s sports ecosystem more broadly.”
Susan Lyne, Managing Partner and co-founder, BBG Ventures: “‘Everyone Watches Women’s Sports’ isn’t just the tagline on TOGETHXR’s sold out tee shirt; it reflects the meteoric growth of fans, viewers, athletes, and sponsors. We believe TOGETHXR is perfectly positioned to ride this unprecedented wave; Alex and team have the relationships, credibility, access, and talent to be the key player in this ecosystem. We are thrilled to be linking arms with them to continue transforming women’s sports.”
Olivia Walton, founder and CEO, Ingeborg Investments: “I believe in the power of storytelling, the power of investing in women, and in the power of Alex Morgan; TOGETHXR combines all three. TOGETHXR is perfectly positioned to capitalize on skyrocketing interest in women’s sports and bring millions of new fans along for the ride. The world is hungry for the stories of these extraordinary female athletes and all women benefit from the telling of them.”
Magnet Companies, a private equity-backed company focused on media and commerce, has also joined the raise, increasing its existing investment in the brand. Magnet Companies backed TOGETHXR as its first investor and operating partner upon its founding four years ago.
Betsy Morgan, co-founder, Magnet Companies: “The expansive work we are doing is both revolutionary and evolutionary for the industry, and this next step investment will allow the team to go even further to expand their scope beyond what has already been done. We are proud to have been partnered with all our co-founders from the start and look forward to being able to continue invoking change, awareness, and deep partnership storytelling for an audience that grows every day.”
News of the company’s profitability and subsequent raise comes on the heels of a standout year of growth for TOGETHXR. The company recently achieved a global reach of more than 3.5 million across all social media platforms, representing a 17% YTD increase from 2023-24. TOGETHXR also announced a record-breaking $6 million in 2024 revenue from the sale of its popular merchandise, including Everyone Watches Women’s Sports™-branded shirts, hoodies, and tote bags. TOGETHXR has already begun to capitalize on this growing momentum, welcoming seasoned media industry veteran Nancy Dubuc as the company’s new executive chair. The former CEO of VICE Media Group, Dubuc joins TOGETHXR with years of executive media experience under her belt and extensive knowledge of the digital content and media landscapes. Prior to her five-year stint at VICE, Dubuc served as President and CEO of A+E Networks, where she developed strategies to increase ratings across the company’s networks through pivots to reality programming and investments in new, promising properties — including a historic partnership with the National Women’s Soccer League (NWSL) in 2017.
As a highly respected media executive, early mover in the women’s sports space, and former Division-I athlete, Dubuc is perfectly positioned to support this next stage of TOGETHXR’s growth while continuing to serve as an active board member of several public limited companies — including Flutter Entertainment, WEBTOON Entertainment, and Warner Music Inc. As executive chair, she will help advise TOGETHXR’s team and inform its brand strategy while serving as a liaison to the company’s investors and the board of directors.
Nancy Dubuc, executive chair, TOGETHXR: “I have spent my career working across all corners of the media industry, and I’m eager to devote this next phase of my professional life to a growth opportunity. Never one to shy away from a sports metaphor, business is a team sport, and I’m excited to join this remarkable group of athletes, executives, and investors as we prove that investing in women’s sports is good business.”
The influx of new capital — which includes an investment from Checker Media, the investment company founded by former Vice Media and New York Post executive Jesse Angelo — as well as Dubuc joining company leadership will enable TOGETHXR to expand and enhance its offerings while doubling down on its position as the preeminent women’s sports media and commerce brand. The multi-hyphenate business plans to create new consumer products and further engage audiences with original content and storytelling across various mediums.
