Lincoln, NE – April 7, 2015 – opendorse announced today that it has secured an additional $1.75 million in capital for its Series A Financing round, in order to continue its fast growth as the leading endorsement solution in the sports business industry. The round is led by Flyover Capital, a venture capital firm based in Leawood, KS, with participation from various angel investors from around the nation. opendorse has raised a total of $2.1 million to date.
Founded in 2013, opendorse has pioneered the digital athlete endorsement category by providing marketers with a smarter, better, faster endorsement solution. opendorse has processed more than 1,500 endorsement deals for its users since launch, and serves a diverse user base that includes 3,000+ athletes, 1,000+ marketers, and 500+ sports agents.
opendorse’s growth has been driven by its partnerships with the world’s largest sports organizations, including the NFL Players Association and the UFC. Marketers from global brands like USAA, American Express, Visa, and Dick’s Sporting Goods leverage opendorse to build and activate athlete endorsement campaigns. Athletes like Rob Gronkowski (NFL), Joe Flacco (NFL), Jamaal Charles (NFL) and Matt Besler (MLS) use opendorse to increase their endorsement opportunities.
Over the last year, opendorse has doubled the size of its team, and re-located its offices in downtown Lincoln, Nebraska. Building on this growth, opendorse will use the additional financing to expand its service offering for current users, invest in new sales and marketing resources, and secure partnerships with additional sports organizations.
“Our mission is to power every endorsement in the world – by providing marketers with a premium research, activation, and measurement platform that enables them to reach and engage their target market like never before,” says Blake Lawrence, CEO of opendorse. “With this round of funding, we’re positioned to solidify our status as market leader in the sports business industry, and build a world-class company, right here in Lincoln, Nebraska.”
“In our opinion, opendorse has demonstrated their ability to secure major partnerships and build trust with industry leaders, in a world where trust is hard to find. The opendorse team has developed and delivered a solution to an industry that is rapidly investing in new technology, and we believe they are poised to capitalize on their position as a thought-leader in the space,” says Keith Molzer, General Partner at Flyover Capital. “Flyover’s investment is to help opendorse capitalize on a growing demand for influence marketing solutions, and accelerate the company’s ability to secure powerful partnerships with leading organizations.”
“At Flyover Capital, we believe that aspiring technology entrepreneurs do not lack ideas, they lack capital at the time they need it the most. We hope our commitment to opendorse not only strengthens its position to succeed, but that it serves as a catalyst for economic growth in the Midwest region,” says Thad Langford, General Partner at Flyover Capital. “We believe opendorse has shown the ability to infiltrate a global industry with a massive growth trajectory, and is an example that ‘Flyover country’ can create successful, innovative companies that compete with technology companies from around the world.”
With this investment, Keith Molzer, General Partner at Flyover Capital, has joined opendorse’s Board of Directors. Further financial terms of this deal have not been disclosed.
opendorse connects marketers with athletes to build powerful endorsement campaigns. With smarter research, better measurement, and faster activation, opendorse helps marketers partner with athletes to build award-winning campaigns that reach and engage their target market. Founded in 2013, the opendorse team serves 1,000+ brands, 3,000+ athletes, and has partnered with the NFL Players Association, the UFC, and major sports marketing agencies.
Learn more at opendorse.com
About Flyover Capital
Headquartered in Leawood, Kansas, Flyover Capital is a seed and early-stage venture capital company. Founded in 2014, Flyover Capital’s goal is to create the next generation of technology success stories in ‘flyover’ region. Flyover Capital initiates investment to accelerate commercialization and provides a broad national and global network that aims to advance portfolio company positions. Flyover’s experienced team applies a unique combination of fund management and operational expertise to identify and develop early stage technology opportunities. The overarching philosophy can be summarized as active participation with driven entrepreneurs in flyover country working to achieve global exits.
Learn more at FlyoverCapital.com