# Opendorse

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/opendorse

- Industry: Software
- Headquarters: Lincoln, US
- Website: www.opendorse.com
- Total disclosed funding: $20M
- Latest round: Series A (Aug 9, 2022)
- Investors on record: 3

## About

Opendorse, Inc. operates a marketplace and technology platform that connects athletes with brands and fans, enabling monetization of Name, Image, and Likeness (NIL) opportunities through endorsements and engagements.Founded in 2012 in Lincoln, US, Opendorse, Inc. focuses on facilitating NIL opportunities for athletes. The company was co-founded by Adi Kunalic and Blake Lawrence, with Blake Lawrence currently serving as the CEO. Opendorse has raised a total of USD 15.00 mn through 11 deals, with the most recent funding round, Series A, completed on August 9, 2022, attracting investors such as Advantage Capital, Flyover Capital, and Serra Ventures. The company's current valuation stands at USD 83.96 mn.Opendorse operates as a leading marketplace and technology platform focused on Name, Image, and Likeness (NIL) opportunities for athletes, fans, and brands. The company provides a comprehensive suite of services enabling athletes to monetize their NIL through endorsements, social media posts, appearances, and unique fan engagements like autographs and birthday shoutouts. This platform effectively connects collegiate athletes with brands and fans, facilitating transactions and collaborations that enhance brand visibility and athlete income. Opendorse serves a diverse client base, including colleges, collectives, and brands across the United States, focusing on major markets such as California, Texas, and Florida where collegiate sports have a significant following and commercial potential.Opendorse generates revenue through a transaction-based model connecting athletes with various stakeholders, including brands, sponsors, and fans. The platform facilitates direct interactions, allowing brands to request personalized content or appearances from athletes for a predetermined fee, which can vary based on the athlete's popularity and the nature of the request. Clients engage with the platform to secure specific endorsements or promotional services, such as social media shoutouts, while athletes receive compensation for their participation. Pricing for these services varies, with offerings that start at competitive rates designed to cater to a range of budgets, fostering widespread accessibility. By positioning itself as an essential intermediary in the NIL landscape, Opendorse supports seamless transactions that benefit both athletes and brands alike.In August 2022, Opendorse, Inc. raised USD 15 million in Series A funding to advance its NIL platforms to meet industry-wide demands. The company plans to continue designing new features and functionalities enhancing its service offerings. Additionally, Opendorse aims to expand into new geographical markets to further connect athletes with brands and fans, although specific locations and timelines for this expansion have not been disclosed.

## Funding rounds

- Series A, Aug 9, 2022, $15M — Advantage Capital, Serra Ventures, Flyover Capital
- Series A, Nov 6, 2017, $3.5M — Serra Ventures, Flyover Capital
- Seed, Feb 5, 2015, $1.8M — Flyover Capital

## Investors

- Flyover Capital (https://capitalatlas.ai/funds/flyover-capital) — Seed, Series A
- Serra Ventures (https://capitalatlas.ai/funds/serra-ventures) — Series A
- Advantage Capital — Series A