Serena Williams' venture fund has made a seven-figure investment in tech startup

Serena Williams has invested a seven-figure sum in OpenSponsorship, a sports marketing technology startup.

Serena Ventures has invested in OpenSponsorship, a sports marketing firm created in New York in 2015 by British entrepreneur Ishveen Jolly, to help the company's expansion into the UK. OpenSponsorship has significant investors is David Blitzer, owner of the NBA's Philadelphia 76ers and co-owner of Premier League club Crystal Palace.

The tech platform allows athletes to sign up for free and approach brands directly to work on specific campaigns. By the end of 2021, the company had completed more than 10,000 transactions across 400 brands, generating $5 million in revenue.

Since its inception, OpenSponsorship has partnered with brands such as Walmart, Foot Locker, and Levi's to promote their products. It already claims to have 12,000 athletes on its platform around the world.

OpenSponsorship plans to use the funds for a variety of expansion strategies, but it has identified the UK market as a key focus for expansion. As a result, Charlie Turner, a former Team GB swimmer and co-founder of plant protein brand Neat Nutrition, has been hired as the company's head of UK. Tuner will assist in the business's direction as well as attracting new athletes and brands to the platform.

Jolly said, “Since launch we have been lucky enough to receive investment from some of the most iconic names in the US sporting industry and with Serena at the heart of this Serena Ventures investment, we couldn’t be more excited.”

“To have the support of those who understand the sports and marketing industry from first-hand experience tells us that we’re building something special. The UK market has matured in recent years and as more brands and athletes in the UK become more aware of the benefits of a streamlined sponsorship process, we’re excited to be in-place to welcome them to our platform.”

Williams' investment brings the firm's total fundraising to $5.5 million. Crystal Palace co-owner David Blitzer and former NBA player Baron Davis are among the other investors.




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