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Unwell, the media company co-founded by married couple Alex Cooper and Matt Kaplan, has landed its first outside investor: Patrick Whitesell, co-founder of WME and former executive chairman of successor company Endeavor.
Whitesell’s WTSL, an investment firm focused on media, entertainment and sports he launched after exiting Endeavor and WME last year, has invested an undisclosed sum in Unwell that values the business at $500 million, according to Unwell. Cooper and Kaplan, who self-funded the company targeting Gen Z women audiences, retain a majority ownership stake. Formed in 2023, Unwell says it has been profitable from day one and sees the WTSL investment as growth capital.
Unwell said that in addition to the funding, WTSL brings “deep strategic expertise, industry relationships and a proven track record of supporting some of the most innovative companies and storytellers in media,” including Peyton Manning’s Omaha Productions.
“Trust has become the ultimate distribution channel and 70 million women a month tune into Unwell,” Cooper, whose “Call Her Daddy” podcast remains the company’s tentpole franchise. “We’re scaling on all fronts, combining nimbleness, social-first premium content, and our understanding of culture to serve this highly influential audience. With WTSL’s backing, the company is now also poised to accelerate our media platform’s growth through acquisitions and investments.”
Whitesell said in a statement, “Alex, Matt and the team have demonstrated an exceptional ability to anticipate where audiences are headed and create entertainment experiences that resonate deeply,” he said. “The company’s growth, audience connection and cultural relevance set it apart, and we believe Unwell is uniquely positioned to help define the present and future of media.”
News of the funding from Whitesell’s WTSL comes after a pair of recent exposés alleging behind-the-scenes chaos at Unwell. According to a Vanity Fair story in June, one Unwell freelancer alleged that Kaplan “creates the most toxic work environment that I’ve ever seen”; anonymous sources also said Kaplan had questioned employees about their sex lives and commented on their physical appearance. In April, Bloomberg reported that Kaplan “has earned a reputation for frequently yelling at staff members” and said Unwell’s employees were “looking for the exit.”
Cooper, in an interview at Cannes Lions this June with the Wall Street Journal, was asked about the allegations. “I will just kind of leave it at ‘Don’t believe everything that you read on the internet’ — but I think everyone knows that at this point,” she said. Cooper also said, “I think that we have done a really incredible job at Unwell, and I think if you walk the halls, there are so many people that are so happy to work at this company. … I think, unfortunately, being a woman in this industry is extremely difficult because you’re held to a completely different standard. Whether it’s a smear campaign being created for someone’s narrative, whatever it be.”
Kaplan is the founder of ACE Entertainment, whose credits include “To All the Boys I’ve Loved Before,” one of Netflix’s most-watched original films to date, and popular Gen Z series “XO, Kitty” (also for Netflix).
“As the premier media company for women, we’re collaborating with some of the biggest brands in the world on creator-led strategies,” Kaplan said in a statement. “Brands realize buying paid ads or influence just isn’t enough in such a disparate media landscape. And, it’s difficult to find a platform like Unwell that meets Gen Z where they are on their terms. That’s something legacy media still hasn’t unlocked.”
Unwell says its audience is 89% female, with 72% between the ages of 18 and 35. The company claims to have nearly 100 million followers across platforms and generated more than 1.7 trillion earned media impressions in 2025 alone. Its podcast network of more than a dozen shows is supported by a “significant” SiriusXM partnership and video engagement on YouTube. In 2024, Cooper inked a three-year deal with SiriusXM worth as much as $125 million over the course of the agreement.
Beyond podcasting, Unwell has expanded into series for premium streaming services and YouTube as well as live events.
The company produced the “Hannah Montana 20th Anniversary Special” on Disney +; partnered with Peacock on live programming from the Paris Olympics; launched reality series “Love Overboard” with Hulu, and has a slate of shows with Netflix, including “Let’s Marry Harry” and “Icebreaker,” set to shoot this fall. Unwell also has a growing portfolio of YouTube-native series announced earlier this year at the streaming giant’s Brandcast event.
Unwell also has staged nationwide tours, spring break experiences, SXSW activations and other live events (which the company estimates have been attended by more than 150,000 fans in person). The company also has a consumer products business spanning energy drinks, hydration products and stick packs.
