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Exclusive: NIL platform launches app, eyes $1.8M round

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Mar 19, 2024
Marvin Harrison

Ohio State receiver Marvin Harrison Jr. is said to have received large NIL offers to keep him in the NCAA. Photo: Ezra Shaw/Getty Images

MOGL, an NIL marketplace and technology platform, has launched its app and is seeking an additional $1.8 million in funding, its CEO Ayden Syal exclusively tells Axios.

Why it matters: Name, image, and likeness (NIL) agreements between athletes and brands are transforming college sports, turning teenage athletes into millionaires and creating a new and booming market.

Catch up quick: MOGL raised $2.6 million in seed funding last year and has raised a total of $6.3 million since its launch in 2019.

  • Magarac Ventures and Beyond Capital have participated in the latest funding. MOGL has $900,000 committed so far for its latest round.

How it works: The mobile app launched today.

  • The platform serves as a bridge between brands looking to partner with athletes as spokespeople and influencers.
  • The app simplifies the process: Athletes are able to connect with brands to get new deals, manage their existing partnerships and track payments.
  • Brands that use MOGL include Fandango, Toyota, Activision, NBC Sports and DoorDash.
  • While some top athletes have used MOGL, including Heisman finalist Marvin Harrison Jr., these platforms are primarily geared toward student-athletes who aren't household names.

The big picture: Other competitors in this space include Athliance, INFLCR and Opendorse.

  • The platform has more than 15,000 athletes that use it and recently surpassed $50,000 in monthly recurring revenue.

Editor's note: The headline on this story was updated for clarity.

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