DURHAM – NextPlay Careers, a software startup helping student-athletes transition into the workforce, has raised around $235,000 in equity, according to a recent securities filing.
Six investors contributed to the round, which opened on April 3, with a $10,000 minimum investment.
The equity consists of shares of preferred stock and the common stock into which the preferred stock may convert.
Some of the proceeds may be used to pay the salary of the officer of issuers, according to the filing.
The round is capped at $500,000.
Duke grad Kyle Mumma founded NextPlay Careers in August 2018.
According to its website, its mission is to improving career outcomes for student-athletes by connecting them to mentorship and work opportunities.
During the coronavirus crisis, the startup has launching a free beta version of its software in early April that will remain free until at least the beginning of June. The beta will provide each school with a platform to access career development content, assign specific tasks to athletes, track progress, and leverage alumni communities for added support. During this time we will continue to add features and work towards the full version of the app.
We will also be hosting free career development workshops indefinitely. The workshops will be open to 100 student-athletes every Thursday at 5:30pm ET and again at 5:30pm PT beginning on Thursday, March 26.
