Alex Cooper and Matt Kaplan’s Unwell media company now has a $500 million valuation after Patrick Whitesell’s WTSL invested an undisclosed amount in the business.
The deal marks Unwell’s first outside investment since Cooper and Kaplan founded the company in 2023. The couple previously funded the business themselves. They will also retain a majority ownership stake following the deal.
Whitesell, the co-founder of WME and former executive chairman of Endeavour, launched WTSL after leaving Endeavour and WME. His firm focuses on investments in media, entertainment and sports.
Unwell targets Gen Z women
Unwell said it has been profitable since its launch. The company plans to use the new funding to grow its media platform. It also plans to pursue acquisitions and new investments.
“Trust has become the ultimate distribution channel and 70 million women a month tune into Unwell,” Cooper said.
“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.”
Unwell says women make up 89% of its audience. It also says 72% of its audience falls between the ages of 18 and 35.
The company has nearly 100 million followers across social platforms. It also generated more than 1.7 trillion earned media impressions in 2025.
Its flagship “Call Her Daddy” podcast remains a major part of the business. Unwell also runs a podcast network with more than a dozen shows.
Expansion beyond podcasts
Unwell has expanded into television, streaming, YouTube and live events. The company produced the “Hannah Montana 20th Anniversary Special” for Disney+. It also partnered with Peacock on live programming from the Paris Olympics.
The company launched “Love Overboard” with Hulu. It also has projects with Netflix, including “Let’s Marry Harry” and “Icebreaker.”
Unwell has also staged tours, spring break events and SXSW activations. The company estimates that more than 150,000 fans have attended its live events.
Kaplan said Unwell gives brands a way to connect with younger audiences beyond traditional advertising.
“Brands realise 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.”
Investment follows workplace reports
The WTSL investment comes after recent reports about the workplace culture at Unwell.
A June Vanity Fair report included allegations from a freelancer about Kaplan’s management style. Bloomberg also reported in April that Kaplan had developed a reputation for frequently yelling at staff.
Cooper addressed the reports during a Wall Street Journal interview at Cannes Lions in June.
“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 added, “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.”
Whitesell said Unwell’s audience connection and growth make it stand out in the media industry.
“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.”
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