Icon Source, Inc

Icon Source, Inc. is a US-based company that operates an innovative marketplace for athletic endorsements, connecting brands with athletes to facilitate sponsorship deals and influencer marketing within the sports sector. Founded in 2018 and headquartered in Denver, US, Icon Source, Inc. provides a platform designed to streamline endorsement deals between brands and athletes.

The company has successfully completed 3 deals to date, with its most recent funding round being a Seed round of USD 1. 6 mn on February 8, 2023, raised from Hawke Ventures. The CEO and founder of the company is Chase Garrett, who has been pivotal in its development and operational strategy. Icon Source operates a comprehensive athletic endorsements marketplace designed to facilitate partnerships between brands and athletes.

Their core offerings include a platform that allows brands to discover and sign endorsement deals with both college and professional athletes, effectively streamlining the process of influencer marketing within the sports industry. The platform serves a diverse clientele, encompassing brands, marketing agencies, universities, and athletes themselves. By providing tools that enhance visibility and facilitate powerful partnerships, Icon Source addresses the need for authentic athletic endorsements, ensuring that all parties involved benefit from increased exposure and engagement. The service is utilized across various geographical markets, with a significant presence in the United States, where collegiate and professional sports are highly prominent.

Icon Source generates revenue through a structured transaction model that connects brands with athletes for endorsement deals. The platform operates on a commission-based system, where brands pay for successful partnerships facilitated through the platform. In this scenario, a brand may engage Icon Source to identify suitable athlete influencers, which involves an agreed-upon fee contingent upon the execution of the endorsement deal. The revenue streams are bolstered by partnerships with various stakeholders including universities, marketing agencies, and a vast network of over 400,000 athletes.

While specific pricing plans for services are not disclosed, the company’s transaction structure emphasizes a B2B model, focusing on establishing direct relationships between brands and athlete influencers to optimize marketing efforts in the sports industry. Following the acquisition of Icon Source, Inc. by BrinxTV in February 2023, the company aims to expand its market reach and accelerate growth. Future strategies include the introduction of new product offerings and the exploration of geographic expansion into additional markets, although specific regions have not yet been detailed.

The recent funding from the Seed round will support these initiatives, facilitating the enhancement of their marketplace and broadening their client base.