Opendorse

What Opendorse does

Opendorse, Inc. is a Lincoln, Nebraska-based SaaS-enabled marketplace operating in the college athlete Name, Image, and Likeness (NIL) industry. Founded in 2011 by Blake Lawrence and Adi Kunalic, the company operates a two-sided platform that connects 200,000+ college athletes across 250+ university athletic departments with brands, advertisers, NIL collectives, and retail media networks. The company monetizes through multiple revenue streams: marketplace commissions on NIL transactions, subscription software for schools and collectives managing compliance, monthly fan subscriptions via Opendorse Clubs, and emerging performance-based media revenue through Athlete Commerce Media.

The core technology stack centers on a proprietary patent-pending data model built on 10+ years of NIL transaction data that produces trusted athlete pricing ranges for brand campaigns. The platform's product surface has expanded from its original NIL Marketplace into Opendorse One (a curated network of 1,000+ college athlete creators for brand campaigns), Athlete Commerce Media (a 2026-launched performance category linking athlete content to retail media networks including Walmart Connect, Amazon Advertising, DG Media Network, and Roundel), and Opendorse Clubs (fan subscription service). Retail media network integrations enable first-party purchase data linkage to athlete-driven content for verified retail outcomes, with brands reportedly seeing 3–5x increases in media value per campaign.

Opendorse pursues a hybrid go-to-market combining self-serve marketplace listings for SMB and individual buyers with an enterprise field sales motion for major brand campaigns, supported by institutional channel partnerships with university athletic departments and NIL collectives. The company has raised approximately $40 million in disclosed funding, including a $20 million round in December 2022 led by Flyover Capital and Serra Ventures, and is actively raising additional capital via a February 2026 SEC Form D filing. Co-founders Blake Lawrence (CEO) and Adi Kunalic (President) continue to lead the company, which employs 51–100 people and is incorporated in Delaware.

Name

Opendorse

Legal name

Opendorse, Inc.

Website

https://opendorse.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

51–100 employees

Short description

Opendorse operates a SaaS-enabled NIL marketplace connecting 200,000+ college athletes across 250+ university athletic departments with brands, retail media networks, NIL collectives, and fans, monetizing through marketplace commissions, subscription software, fan subscriptions, and performance-based retail media fees.

Ownership category

akta.pro rank

Product category

Athlete Influencer Marketing Platform

NAICS

Agents and Managers for Artists, Athletes, Entertainers, and Other Public Figures (7114), Indoor and Outdoor Display Advertising (541850)

SIC

Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

NIL Representation & Compliance Services (Student-Athletes) (MPAKAMAE)

akta.pro secondary industry

Athletics Fundraising, Sponsorships & NIL Support (EDALAIAN)

Keywords

• NIL marketplace platform
• Athlete influencer marketing
• College sports sponsorship
• Fan subscription services
• Retail media partnerships

Headquarters

HQ city

Lincoln

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Marketplace Transaction Fees: Platform fees from facilitating NIL deals between athletes and brands; takes commission on transactions through the marketplace
2. Media Revenue - Campaign Outcomes: Revenue tied to campaign performance and retail conversions through Athlete Commerce Media; brands see 3-5x increases in media value per campaign
3. Fan Subscriptions: Monthly subscription service (Opendorse Clubs) where fans pay to support athletes
4. Software/Platform Services: Platform subscriptions for schools and collectives managing compliance and athlete deals; Opendorse positioned for compliance-heavy programs

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Opendorse operates a SaaS-enabled marketplace that connects college athletes with brands for Name, Image, and Likeness (NIL) endorsement deals. The platform enables athletes to monetize social posts, appearances, and content creation while providing brands with vetted athlete creators, campaign management, and compliance tools for schools and collectives.

Product overview

Opendorse operates as a unified NIL (Name, Image, Likeness) technology platform and marketplace. The core platform consists of the NIL Marketplace connecting athletes with brands and fans, supplemented by Opendorse One (a curated network of 1,000+ college athlete creators for brand campaigns), and the newly launched Athlete Commerce Media (performance category linking athlete content to retail media networks). Additional modules include Opendorse Clubs (fan subscription service) and compliance/transaction infrastructure for schools and collectives. The platform serves over 200,000 athletes, 250+ university athletic departments, and enables brands to execute full-service campaigns at scale.

Differentiator

Problem solved

Functional benefit

Brands

• Opendorse Clubs: Fan-subscription product enabling fans to support college athletes through monthly subscriptions
• Opendorse One™
• Athlete Commerce Media

Products and services

• NIL Marketplace Digital marketplace connecting college athletes with brands and fans for NIL deals, enabling athletes to monetize their personal brand through social posts, appearances, and content creation.
• Opendorse One A curated network of over 1,000 college athlete creators that enables brands to access verified athlete influencers for campaign activation, with integration to retail media networks for measurable outcomes.
• Athlete Commerce Media A performance marketing category that connects athlete-powered content to retail media networks, enabling verified retail outcomes by linking athlete-generated content to retailer first-party purchase data.
• Opendorse Clubs A fan subscription product allowing fans to support college athletes through monthly payments, providing recurring revenue for athletes and engagement infrastructure for supporters.

Quantifiable outcome

• Brands see 3-5x increases in media value per campaign
• +3 more outcomes

Named customers8 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered core, flagship and minor.

• DG Media NetworkcoreTechnology or Integration · 18 June 2026Major retail media network partnership for Athlete Commerce Media connecting athlete-powered content to retail purchase data at scale
• RoundelcoreTechnology or Integration · 18 June 2026Retail media network partner integrated with Athlete Commerce Media platform linking athlete content to retail outcomes
• Walmart ConnectcoreTechnology or Integration · 18 June 2026Flagship retail media partnership enabling brands to convert NIL content into measurable marketing ROI through Walmart's retail media ecosystem
• Amazon AdvertisingcoreTechnology or Integration · 18 June 2026Integration with Amazon's advertising ecosystem for measuring athlete content performance and retail conversions
• HelloNationflagshipStrategic or Co-development Partner · 13 April 2026National NIL initiative launching HelloNation Athlete Program; first-of-its-kind program on Opendorse platform where college athletes create short-form video content spotlighting hometowns for compensation
• Creator Sports NetworkflagshipStrategic or Co-development Partner · 21 February 2026Partnership for groundbreaking distribution deal allowing Mountain West athletes to stream live games through personal Instagram and TikTok accounts
• Mountain West ConferenceflagshipStrategic or Co-development Partner · 21 February 2026First collegiate conference to allow athletes to stream live games directly through personal social accounts, creating 'Athlete Rights Window'
• Howard Community CollegeminorGTM or Marketing Partner · 3 November 2025First community college in Maryland to establish NIL partnership supporting student-athletes; provides resources for brand development and compliance
• Princeton UniversityminorGTM or Marketing PartnerIvy League school partnered with Opendorse platform to help athletes facilitate private NIL deals

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• INFLCR (Teamworks Influencer): INFLCR was a direct NIL marketplace for college athletes before being acquired by Teamworks in 2023. It competes head-to-head with Opendorse connecting athletes to brand deals, content tools, and compliance infrastructure.
• MOGL: MOGL operates an athlete NIL marketplace connecting college athletes with brands and collectives. It targets the same athlete–brand–school triangle as Opendorse with similar marketplace and compliance functionality.
• OpenFan (Bally's): OpenFan is a NIL marketplace for college athletes backed by Bally's. It directly competes with Opendorse in connecting brands and fans to student-athletes for endorsements and content deals.
• NIL Network: NIL Network is a college athlete NIL marketplace facilitating brand deals and compliance. It overlaps with Opendorse's core marketplace proposition and serves a similar athlete and school audience.

Broad incumbents

• Teamworks: Teamworks is a broader athlete operations platform for college and pro sports with messaging, performance, and compliance modules. After acquiring INFLCR, it sits adjacent to Opendorse across athlete ops and NIL workflows.
• WME Sports (Endeavor): WME Sports is a major athlete representation and marketing agency under Endeavor. It competes with Opendorse for brand endorsement budgets and athlete representation, though at the professional rather than college level.
• CAA Sports: CAA Sports is a leading sports marketing and talent representation division of Creative Artists Agency. It competes for brand endorsement deals and athlete marketing relationships overlapping with Opendorse's brand-side value proposition.
• Excel Sports Management: Excel Sports Management is an athlete representation and sports marketing agency. It competes for brand endorsement deals and athlete representation relationships that flow through Opendorse's marketplace.

Emerging players

• CaptainU: CaptainU combines athlete recruiting tools with NIL functionality for high school and college athletes. It overlaps with Opendorse on athlete-side monetization tooling while also serving the recruiting vertical.

Others

• Fanatics: Fanatics is a sports commerce, collectibles, and media giant. It is adjacent rather than directly competitive — relevant as an ecosystem participant that connects athlete influence to licensed merchandise, retail media, and fan monetization at massive scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/opendorse
• Xx.com/opendorse
• Facebookfacebook.com/opendorse
• LinkedInlinkedin.com/company/opendorse

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds10 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Opendorse