New York

MOGL Raises $2.6M for Name-and-Picture Similarity Marketplace for College Athletes – AlleyWatch

Recent changes to NCAA rules regarding name and image similarity The NIL has changed the face of collegiate track and field and opened the floodgates for student-athletes to receive compensation for the first time. Athletes and sports programs are now more focused on building monetizable businesses, and brands are looking to expand their presence in the $19 billion annual entertainment market of college sports. MOGLs is the NIL marketplace for brands, athletes and sports programs all leveraging this frontier market to manage this burgeoning opportunity. While the NCAA allows athletes to receive direct rewards, there are regulatory considerations and the platform is focused strictly on ensuring compliance while providing robust reporting, with a focus on discovery-to-payment. We handle all aspects of sponsorship deals from start to finish. MOGL already has over 1,000 student-athletes on its platform and connects with over 1,500 brands, from local businesses to global brands like Toyota and Under Armour. I’m here.

alley watch Catch up with MOGL’s CEO and co-founder Iden Sial To learn more about the business, the company’s strategic plans, the latest funding round, and more…

Who are your investors and how much did you raise?

MOGL has announced the closing of an additional $2.6 million in seed financing led by Magarac Venture Partners (MVP), bringing the total funding to $5.5 million. MOGL’s other investors include professional athletes including PivotNorth Capital, Penske Media Corporation, Chaos Ventures, Litquidity, Sand Hill Angels, Platform Venture Studio, and All-Pro NFL Safety Minkah Fitzpatrick.

What products or services does MOGL offer?

MOGL provides comprehensive solutions for brands and colleges that want to benefit from influencer marketing and thrive in the new NIL era of college athletics.

Brands looking to connect with athlete influencers and ambassadors can filter a broad range of student-athletes and access key insights to enhance their advertising strategy and lead directly to content, social media promotion and other valuable activities. can do. The platform saves brands time and effort by generating contracts, delivering recommendations, and organizing communications in one place.

Universities use MOGL’s software to connect networks of sponsors, local businesses and fans directly to student-athletes, providing compliance reporting and monitoring capabilities. The software allows a student-athlete to connect to her verified NIL trades with the click of a button.

What inspired you to start MOGL?

After attending school at Notre Dame, Brandon (co-founder) and I learned that athletes have limited schedules and generally don’t have access to the resources they need to monetize their audience. I noticed.

MOGL was founded because they recognized that athletes needed a safe and easy solution to connect to opportunities, and universities needed software to monitor compliance and connect their networks to student-athletes. is.

Having played quarterback for the University of Notre Dame, but legally unable to directly benefit from the platform it provided, Brandon saw this as an opportunity to give back to the next generation of college athletes. I was.

We founded MOGL in 2019 to provide universities, brands and athletes with an operating system specifically built to foster mutually beneficial relationships through NIL sponsorship. A few months later, California Governor Gavin Newsom signed a bill that would allow college athletes to sign endorsement contracts and hire agents while protecting college eligibility. I have leveraged my athletic career and my business experience to provide student-athletes with the opportunity to receive financial rewards and future professional prospects.

How is MOGL different?

MOGL is different because it is committed to providing opportunities for all student-athletes, regardless of sport, school or department. Our commitment to providing resources and access for all allows us to provide brands with a much more diverse network of athletes they can access to enhance their marketing strategies. Additionally, MOGL’s team of Brand Partners has acquired over 1,500 actively engaged brands on the platform, truly connecting athletes to opportunities. MOGL’s compliance service is the most robust and the only solution in the industry today that offers automatic disclosure.

While there are other platforms that offer NIL solutions for student-athletes, none offer the holistic experience we created. The MOGL platform is an operating system for democratizing athletes’ access to influencers and ensuring NCAA compliance by automatically monitoring disclosure requirements, while connecting the entire network of sponsors, alumni and fans to student-athletes. provide to the university. Additionally, MOGL supports women in leadership positions, with her 50% gender diverse.

What is MOGL’s target market and size?

In NIL’s first year, student-athletes earned an estimated $917 million. A recent report projects that number to top $1.4 billion in his second year as brands, colleges and athletes navigate his new NIL situation. According to the latest NCAA data, he has surpassed 520,000 student-athletes competing in NCAA championship sports in 2021-22, a record high. MOGL caters to all student-athletes regardless of sport, discipline, race or economic background, influencer in a new era of NIL programs relationships with brands and colleges looking to profit from his marketing promotes it.

what is your business model?

MOGL combines world-class technology with one of the largest student-athlete databases in the country to help brands maximize their marketing spend while increasing brand awareness. By providing access to easy-to-use technology supported by experienced and responsive professionals, companies can experience and access his NIL ecosystem seamlessly, improving overall engagement, satisfaction, and long-term can improve your success. By building strong brand-athlete partnerships through the MOGL platform, brands can increase awareness, reach new audiences, and ultimately drive sales.

Universities can access this technology and leverage its capabilities to connect their networks to student-athletes and protect them through compliance monitoring.

How are you preparing for a potential economic slowdown?

While we recognize market uncertainty and potential slowdowns, the benefit of the services we offer is a scalable and affordable solution for our clients. Advertising performance helps him achieve ROI and ultimately saves money.

What was the fundraising process like?

Given the market dynamics and current startup funding situation, the funding process has been more difficult than we anticipated. We are delighted to be operating in a space that offers great opportunities to so many people, to be a leader from a technical standpoint, and to secure funding from great partners.

What was the biggest challenge you faced in raising capital?

One of the biggest challenges we faced was having to explain the complexity of NIL and the athletic environment of the university to VC firms and investors with limited exposure to the landscape. We all know how huge the market within NIL is, but it was difficult to tell investors why our technology was so important to colleges and student-athletes.

What factors in your business are driving investors to write you checks?

The biggest factor is that, thanks to the technology we have built and its countless variety of use cases, it offers a real opportunity for all collegiate athletics, leveraging the entire potential market within the NIL. is that Other participants in Landscape only serve specific niches, but we are all-encompassing.

What milestones do you plan to achieve in the next six months?

Over the next six months, especially during the summer, we plan to deepen our relationships with our current partners and customers and expand our currently available software offerings to universities. Most notably, in the coming months, we plan to launch an innovative fan portal that connects fans directly with student-athletes in a safe and controlled environment.

Over the next six months, and especially over the summer, we plan to deepen our relationships with our current partners and customers and extend our currently available software offerings to the university. Most notably, in the coming months, we plan to launch an innovative fan portal that connects fans directly with student-athletes in a safe and controlled environment.

What advice can you give to New York companies that haven’t injected fresh capital into their banks?

Examine your network and realize that capital can come from unusual or unexpected places. New York has a huge angel and investment community, but emerging population centers like the Midwest and Southeast shouldn’t be ignored. Talk to your top customers about who they might be able to connect with you because they see and understand the value of your product better than anyone else!

Where do you see the company going now in the near future?

MOGL’s mission remains the same. To continue to democratize her NIL opportunities to all athletes. Opportunities within the NIL, however, cannot be limited to sponsorship and advertising opportunities. Athletes need to be prepared for their post-sport life through preparation for the careers and other life skills we plan to support.

What is your favorite restaurant in the city?

Most recently, a newly discovered spot, Le French Diner. A quintessential New York restaurant that seats up to 15 people and serves traditional French cuisine in a great atmosphere. But don’t tell anyone on TikTok. I still want to secure a table.


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https://www.alleywatch.com/2023/03/athletes-mogl-nil-athlete-marketplace-college-sports-ayden-syal/ MOGL Raises $2.6M for Name-and-Picture Similarity Marketplace for College Athletes – AlleyWatch

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