It's not just student athletes cashing in on new name, image and likeness rules. One of the leading companies in the space just snagged its largest-ever investment.
Lincoln-based Opendorse announced Tuesday that it has raised $20 million from investors including Flyover Capital, Serra Ventures and Advantage Capital. Other investors in the funding round include former Husker and NFL player Will Compton and former Formula One Managing Director Sean Bratches.
The $20 million is more than Opendorse had raised in total from investors to date.
The company said in a news release that it will use the money to maximize NIL opportunities for student athletes through providing schools NIL operating systems, expanding services to meet demand from NIL collectives, building professional services and tech solutions for brands that want to partner with athletes and launching Opendorse clubs, which are membership-based, officially licensed NIL clubs that allow fans to support their favorite teams and athletes.