Philadelphia, PA (November 10, 2021) NOCAP Sports announced today it has secured a $2.5 million dollar seed round, thanks to financial support coming from a wide variety of investors. The fundraising round included Florida Funders, the Florida Institute, the Acquired Wisdom Fund, Bakari Sellers, as well as executives from the Philadelphia Union, Wasserman Media Group, College Hunks, Orreco and Pulse Sports and Entertainment, among others.
“College sports is in the midst of its most significant and impactful change in its history of existence,” said Nicholas Lord, Co-Founder and CEO at NOCAP Sports. “In an ecosystem that’s massively fragmented, and for the first time ever, we’re providing free and equal access at the fingertips of college athletes to compliantly monetize their name, image, and likeness. We are excited to have closed our seed round with an incredible amount of support from so many recognized organizations and individuals that believe in our mission.”
NOCAP Sports is an inclusive digital marketplace that allows athletes, schools, and businesses to connect and conduct automated, compliant, transparent and verified NIL related transactions with full oversight from independent third parties.
“NOCAP Sports is more than just a platform, it’s a gateway to services for schools and athletes,” says Sarah Fuller, Director of Athlete Relations at NOCAP Sports and the first woman to play in a Power Five conference football team. “NOCAP is equipping the next generation of student-athletes in the NIL market that is expected to grow like never before.”
NOCAP Sports was founded in May 2020 in response to loosening restrictions on university athletes monetizing their name, image and likeness (NIL) with brands, businesses and fans. NOCAP Sports delivers a seamless experience for all parties, providing athletes with education, promotional and revenue opportunities, universities with the compliance tools to ensure athletes stay within the rules, and brands and retailers a way to activate athlete talent easily and safely.
“As a college athlete, I know first hand that every stage of the process can be overwhelming,” said Collin Gillespie, college basketball star for the Villanova Wildcats and a NOCAP Sports ambassador. “NOCAP Sports makes this process seamless, while opening a magnitude of commercial opportunities. I highly recommend every student athlete to utilize their services and endorsement opportunities.”
To date, NOCAP has secured 61+ universities to join the platform, expanding the pool of athletes available for brand partnership opportunities. University partners include the University of Arkansas, the University of Nevada Las Vegas, Boise State University, the University of San Diego, the University of New Mexico among others.
“We’re extremely proud to work with NOCAP Sports in supporting our athletes at no cost to them or our schools,” said Terry Prentice, Director of Athlete Brand Development & Inclusive Excellence at the University of Arkansas. “NOCAP Sports is able to eliminate the compliance and documentation burden for everyone involved while also providing athletes robust opportunities. Athletics are one of the many driving forces at universities, and it’s important that we help give back to the students who make it possible.”
Source: NOCAP Sports