Campus Ink is raking in the cash.
The Urbana, Illinois-based screen printing company, which operates an NIL (Name, Image, and Likeness) platform for college athletes, has added another $2 million to its coffers thanks to a group of investors that include billionaire entrepreneur Mark Cuban.
It’s the second capital infusion that Campus Ink has received from Cuban, who regards the company as a pioneer in an emerging space.
“When I invested in Campus Ink six months ago, they had one school and 15 athletes,” Cuban said. “Now, they’re working with nearly 25 schools and thousands of athletes with no signs of slowing down. Campus Ink is disrupting the NIL space on behalf of college athletes for the better.”
Other participants in the $2 million funding round include Chicago’s LightBank, Capital Innovators, Irish Angels, West Suburban Angels, Connetic Ventures, High Street Equity Partners, and The Dike Family Partnership.
Scale is the goal for Campus Ink, whose NIL platform enables athletes to earn money through jersey and custom apparel sales.
The University of Illinois delivered proof of concept last year when its men’s basketball student-athletes earned more than $100,000 during the regular season selling NIL-licensed merchandise.
The platform’s growth accelerated with Mark Cuban’s initial investment, which helped Campus Ink secure partnerships with nearly 25 schools that will support more than 2000 athletes, the company said in an announcement.
The platform has also partnered with school bookstores like Gameday Spirit, Legends, and Follett to carry NIL apparel. Retailers can select which players and merchandise they’d like on their shelves while the platform handles athlete compensation.
At Illinois last season, fans purchased nearly 4000 NIL Illini basketball jerseys both online and through in-venue partner Gameday Spirit. Last month, programs at Indiana, Purdue, and San Diego State also signed on with Campus Ink.
On the platform, athletes have their own “locker room” featuring personalized merchandise connected to their social accounts. A recent partnership with Meta allows fans to buy directly from an athlete’s Instagram page.
A portion of the newly raised $2 million will go toward growing Campus Ink’s NIL Private Label Jersey program. Athletes receive 20-30 percent per unit sold.
Campus Ink also runs its Student Designer Program at more than 40 campuses across the country, teaching college students about custom apparel design and sales.