MOGL Closes Seed Round to Democratize Access in NIL Landscape
Recent Raise by the SXSW Startup Pitch Contest Winner Brings Total Funding to $5.5M
New York, NY — March 23, 2023 — MOGL, the leading athlete marketplace and NIL operations software provider powering the Name, Image, and Likeness (“NIL”) era of collegiate athletics, today announced the closing of an additional $2.6M in Seed financing led by Magarac Venture Partners (MVP). Founded in 2019 by Notre Dame graduates Ayden Syal and former starting Quarterback, Brandon Wimbush, MOGL’s platform connects college athletes to brands and fans that are looking to connect for sponsorships, endorsements, video shout outs, and other exciting experiences.
With the recent changes in NIL laws, marketers now have a new opportunity to collaborate with student-athletes for sponsorship and funding. In fact, in the first year of NIL, student-athletes have earned an estimated $917 million. The MOGL platform played a significant role in this by democratizing access to athlete influencers and providing universities with an operating system to connect their entire network of sponsors, alumni, and fans to their student-athletes while ensuring NCAA compliance through automatically monitoring disclosure requirements.
MOGL CEO and Co-Founder Ayden Syal says, “NIL offers an incredible opportunity for athletes, brands, and fans to engage for mutually beneficial partnerships and experiences. MOGL enables these parties to easily connect in a compliant manner. What’s unique about our offering is that we are also providing the technology for universities to harness the power of their networks and connect them to their student-athletes while protecting them.
MOGL offers a comprehensive solution for brands and universities looking to benefit from influencer marketing in the new era of NIL programs. With a simple click, brands can filter through a wide range of athlete influencers and gain access to key insights to enhance their advertising strategies and achieve scalable results.
Universities use MOGL's innovative technology to manage their NIL programs with confidence, knowing that they are meeting NCAA compliance requirements through automated monitoring capabilities. Specifically designed to empower all athletes looking to monetize their brand value, the platform also provides brands and fans associated with those universities a streamlined solution for navigating the rapidly evolving landscape of influencer marketing and the creator economy.
“We're thrilled to be partnering with MOGL, the leading NIL marketplace that's transforming the sports and entertainment industry," said Will Allen, Partner at MVP. “Their innovative platform connects student-athletes, universities, brands and fans in a mutually beneficial way, creating endless opportunities for growth and success. This collaboration exemplifies our commitment to innovation, diversity and our shared belief in the power of disruptive thinking to drive positive change.”
MOGL is used by over 10,000 student-athletes across the United States and over 1,500 participating businesses and brands including NBC Sports, Toyota, Under Armour, and DoorDash. The company has partnered with universities across all three NCAA divisions including Notre Dame, Holy Cross, and Winona State - among others.
The funding will help grow the monetization opportunities available for student-athletes, deepen the campaign insights and reporting capabilities for brands, and continue to expand the compliance and marketplace offerings for universities and collectives. MOGL is also working to launch a mobile application in 2023 that will improve ease of access for athletes, brands, and fans alike.
MOGL Chief Athletic Officer and Co-Founder Brandon Wimbush added “MOGL was founded to empower athletes so to have our largest financial backer be a former high profile athlete himself really enforces our commitment to putting athletes first in everything that we do. It’s important that all college athletes have the ability to maximize their platforms while they are at their peak marketability. Our goal is to bring the necessary resources for monetization and professional opportunities to all 500,000 college athletes.”
Other investors in MOGL include PivotNorth Capital, Penske Media Corporation, Chaos Ventures, Litquidity, Sand Hill Angels, Platform Venture Studio, and professional athletes including All-Pro NFL Safety Minkah Fitzpatrick.
For more information, please visit https://www.mogl.online/.
About MOGL
MOGL is the leading athlete marketplace and NIL operations software provider enabling college athletes to connect with monetization and sponsorship opportunities with brands, employers, and fans. As the NIL era transforms the college athletics landscape, MOGL gives universities and their student-athletes the technology to monetize their personal brands in a safe and compliant manner.
Founded by Notre Dame graduates Ayden Syal and former starting QB Brandon Wimbush in 2019, MOGL is used by over 10,000 student-athletes across the United States and over 1,500 participating businesses and brands including NBC Sports, Toyota, Under Armour, and DoorDash. The company has partnered with universities across all three NCAA divisions including Notre Dame, Holy Cross, and Winona State - among others.
MOGL's comprehensive platform is poised to reshape the future of college sports and sports marketing. Learn more at www.mogl.online.
About Magarac Venture Partners
Magarac Venture Partners (MVP) is a Pittsburgh-based venture capital firm with a focus on investing in early-stage companies in the emerging areas of Robotics, AI, Enterprise Software and HealthTech. Our team is composed of the most experienced early-stage investors in the Midwest with over 50 years of operational and investment experience. MVP believes that great ideas and leadership can come from anywhere and actively seeks out opportunities to provide diversified exposure to the fastest-growing tech ecosystem in the United States. Inclusion is the thread of what we do. MVP has consistently experienced outsized returns by having access to and investing in diverse and exceptional founders. For more information, please visit https://www.magarac.vc/.
