Opendorse Launches New Marketing Platform For Athletes; Raise additional funding of $ 3.125 million

In the digital age, many traditional best practices have evolved. One of these areas is how athletes to market and build their brand. In a world not so long ago, before social media, athletes had to rely on external entities to get their message across and even when successful publicity was assured, they had to make sure that their message was correctly communicated by a third party. .

But a lot has changed with the rise of social media and the rapidly evolving world of digital engagement and storytelling, which has allowed a number of companies to enter the athlete marketing industry. and transform the way athletes can market themselves. One of these companies is open back, which has grown exponentially in recent years and recently announced new funding of $ 3.125 million, which brings their total funding to $ 9.525 million since the company was founded in 2012.

The last round was funded by regular investors Serra Ventures and Flyover capital. Serra Ventures had already participated in the series A of opendorse $ 3.5 million in 2017. Flyover Capital had already led the $ 1.5 million opendorse fundraiser in 2015. The fundraiser also includes investor Sean Bratches, who is the current Managing Director of Commercial Operations for Formula 1 and Dan Mannix, the current CEO of CSM North America.

The last round also included a new investor Nelnet, who was also an early investor in Hudl as both are based in Lincoln, NE. Hudl, who raised on $ 100 million, has been an extremely successful sports technology startup.

“This increase provides opendorse with a clear path to short-term profitability and allows the company to exceed 1,000 mid-term customers and 100,000 athletes globally in the long term,” said Blake Lawrence, co-founder and CEO of ‘opendorse. A declaration. “We have used six years of experience alongside the best in social and sport to imagine the platform that will help our partners and thousands of athletes to win today and in the future. It doesn’t just add another tool to the market, it can create a fundamental shift in what athlete marketing can be.

The new funding will allow opendorse to launch a new platform that will expand its athlete-focused distribution where users can schedule and share content across an unlimited volume of channels and users. , Facebook and Instagram. The new platform will also include a streamlined communication channel between partners and athletes that will include a note sharing feature allowing users to share content notes and provide suggestions to athletes.

In the past year alone, opendorse has experienced significant growth which has seen its subscription revenue increase eightfold. There are now over 7,000 athletes using the platform, including NFL players. Odell beckham jr. and JuJu Smith Schuster as well as golfer Dustin Johnson and the team itself grew by 50% in 2018 alone.

“If someone had told you five years ago that a media company like ESPN or Bleacher Report wouldn’t be the biggest distributor of sports content on social media, you wouldn’t have believed it,” said Sean Bratches in a statement. “But social media has been a game changer – and opendorse has created the ultimate solution that allows athletes and brands to distribute content at scale. It’s amazing how far opendorse has come in such a short time. “We are still in the early stages. In a few years you will be hard pressed to find an athlete who does not market through opendorse.

Technology has changed the way people communicate with each other and these effects are spreading rapidly in the sports industry as well. The technology offered by companies like opendorse is having an impact on the way athletes communicate with the world and the investment community has taken note.

Charles T. McConnell