May 28, 2025

Oakland Ballers Raise $3M+ From Fans, Building a Team the Community Owns

When VCs said no, Monogram turned to retail investors. That decision powered their rise from startup to publicly traded company—and even helped them raise an additional $13M privately after their Nasdaq debut.

Oakland Ballers Case Study - DealMaker

$3.2M

Total Raised

3,800+

Fan Investors

9 Days

To Hit Initial Cap

$779

Average Investment

When the MLB's Oakland A's announced their departure from Oakland, California, the community was devastated. Baseball has been a huge part of Oakland's unique culture since the A's first arrived in 1968. Now, suddenly, the city had to say goodbye to a team it had been cheering on for more than 50 years.

That's when two local entrepreneurs saw an opportunity to change the game for Oakland—not just by launching a new team, but by rewriting the rules of professional sports ownership. Instead of another team moving in with a traditional ownership structure, the Oakland Ballers launched with a radically different model: one that made the fans the owners.

Over $3 million later—with thousands of investors and a full stadium to show for it—they've done more than just fill a void. They've sparked a movement.

A Fan-Owned Team, Born in Oakland

Co-founders Paul Freedman and Bryan Carmel created the Oakland Ballers in 2024 with a mission to keep professional baseball rooted in the city. But they didn't just want to launch another team—they wanted to change how teams are owned and operated.

The Ballers' ownership model gives fans a real stake in the team, including voting rights and decision-making power enshrined in a formal Fan Rights Agreement. Their goal? Ensure the team stays by Oakland, for Oakland, forever Oakland.

Paul Freedman, co-founder of the Oakland Ballers, speaking at an event

Paul Freedman, one of the co-founders of the Oakland Ballers.

Powered by DealMaker

To turn supporters into shareholders at scale, the Ballers partnered with DealMaker as their technology provider and capital-raising platform.

        Their first digital campaign launched on August 21, 2024, with over 3,500 early reservations—creating early momentum when their raise went live.
They raised their $1.235M cap in under 9 days, triggering a follow-up offering.
In total, they raised $3.2 million from more than 3,800 fan-investors across two community rounds, with an average investment size of $779.
Over 80% of early investors were California-based, and more than 20% came directly from Oakland.

      

All investment flows, compliance documents, and investor governance infrastructure—including fan voting portals—were built and executed on DealMaker.

Strategy Without Spend

The Ballers didn't rely on a big media budget. Instead, they focused on earned media, organic community growth, and one powerful story.

During their 'Testing the Waters' campaign, Ballers drew over $8 million in indications of interest from around 3,500 potential investors. Read more
Coverage included The New York Times, Forbes, CNBC, Sports Illustrated, and more.
Celebrity backers like Green Day's Billie Joe Armstrong and rapper Too $hort helped drive visibility and legitimacy.

With a custom DealMaker landing page and eCommerce-style checkout, conversion rates remained high: in the first 48 hours of the campaign, Ballers attracted a funded investment roughly every 3.5 minutes.

Giving Fans a Real Voice

Investors weren't just given perks—they were given power.

The Fan Bill of Rights gave shareholder-fans the ability to vote on critical team decisions, like executive leadership and relocation.
A digital Fan Vote Portal, built with DealMaker, let fans elect a "Fan Director" to the team's board—an unprecedented step in pro sports governance.
Eleven candidates were shortlisted for the inaugural vote, bringing participatory ownership to life.
On December 29, 2024, the Ballers announced the winner of their first-ever fan-investor board member. Read more

Real Impact, Real Numbers

In year one, the Ballers drew nearly 100,000 fans to their games and surpassed $1 million in merchandise sales—clear signs of a community that is showing up and buying in. With a fanbase this engaged, it's no surprise many of them became investors too.

That's not just capital—it's loyalty.

A Blueprint for the Future of Sports Ownership

The Oakland Ballers are more than a baseball team. They're a case study in what happens when you give your community a seat at the table.

With legal and structural safeguards in place to protect fan rights—and a scalable model powered by DealMaker's tech—the Ballers have shown that fan ownership isn't a gimmick. It's a competitive advantage.

Ready to Raise Capital on Your Terms?

Whether you're pre-revenue or post-IPO, DealMaker gives you the infrastructure, support, and strategy to raise from the people who believe in you most.

Explore Raising Capital with DealMaker

Monogram Case Study - DealMaker (Embed)

When VCs said no, Monogram turned to retail investors. That decision powered their rise from startup to publicly traded company—and even helped them raise an additional $13M privately after their Nasdaq debut.

The Challenge: Raising Capital on Their Terms

The Challenge: Raising on Their Terms

Monogram Technologies was founded with a bold vision: to revolutionize orthopedic surgery with a robotic joint replacement system using custom 3D-printed joints. The market for this technology is massive—approximately $19.6 billion, with over 1 million knee replacements per year. But it's a capital-intensive, regulation-heavy space—and traditional VCs weren't biting.

Instead of compromising, co-founders Dr. Doug Unis and Ben Sexson went all-in on a different path: retail capital. Why?

Control and ownership: Not only were they able to raise the capital they needed to grow the business—they did it on their own terms.
Long-term asset: They wanted to build an army of true believers who wanted to see the company succeed and would continue to reinvest over the years.
A value-add network: Raising from retail allowed Monogram to amass a waiting list of thousands of patients eager to participate in future trials.
Aligned incentives: Their mission to improve patient outcomes and build a better future for those struggling with joint pain resonated with retail investors.

The Power of Retail: Monogram's Capital Journey

Start Date	End Date	Type	Platform	Amount Raised	# Investors
3/13/19	3/31/20	A+	SeedInvest	$14,588,668	6,000
11/16/20	1/16/21	A+	StartEngine	$2,965,501	8,000
1/17/21	2/18/22	A+	StartEngine	$23,647,853	14,082
7/15/22	3/16/23	CF	DealMaker	$4,673,000	2,249
3/1/23	4/8/23	A+	Republic	$232,275	120
3/1/23	5/23/23	A+	DealMaker	$15,958,364	5,198
5/18/23	-	Nasdaq listing
7/24	10/24	Unit Offering	DealMaker	$12,990,103	2,745

Monogram Capital Raise Timeline

Monogram's first direct-to-investor raise was a $14.6M round in 2019. Since then, Monogram has raised retail capital six additional times, using Reg A+ as a springboard to a Nasdaq listing in 2023.

Each raise brought in new believers—and more importantly, kept bringing them back. That's the long-term power of retail capital. It's not just one campaign—it's a compounding asset that grows with the business.

$80M+

Raised across seven campaigns

~40,000

Investors championing Monogram's vision

20%

Of each raise came from previous investors

Marketing Excellence

DealMaker Reach provided strategic investor acquisition services, helping Monogram connect with the right audience through high-impact channels.

Premium Publications

Targeted campaigns in premium publications like Morning Brew captured qualified investors

High-Engagement Webinars

Engaging events that generated over $4.3 million in investments

Community Building

Strategic approaches that fostered a loyal shareholder base

Investment Momentum

Innovative approaches that amplified investment momentum

Monogram's Journey to Success

Monogram's journey has been defined by relentless innovation, strategic fundraising, and breakthrough advancements in robotic-assisted joint replacement. From early-stage research to a Nasdaq listing and beyond, Monogram's milestones reflect its evolution into a pioneering force in orthopedic surgery:

Filed its first patent application in 2017
Conducted clinical studies at UCLA and University of Nebraska
Expanded the team with key hires
Attracted a top-tier advisory board to guide clinical innovations
Signed their first distribution partnerships
Made headlines with cutting-edge live demonstrations
Secured 501(k) FDA clearance for the mBôs surgical system

Nasdaq Debut & Beyond

In May 2023, Monogram Orthopaedics successfully listed on the Nasdaq—a significant milestone offering liquidity and growth opportunities for the company.

For most companies, that would be the end of their story in the private markets. But for Monogram, it was just the beginning of a new chapter.

Public perception says you can't raise privately post-IPO. Monogram proved that wrong.

Defying conventional fundraising norms, Monogram raised an additional $13 million from private investors, powered by DealMaker. This move highlighted the power of a dedicated investor community and provided additional strategic growth capital. Meanwhile, strategic digital marketing for the private offering helped boost the public share price—a win-win for the company and its investors, both public and private.

This was retail capital at its best: strategic, repeatable, and aligned.

One vision. Zero compromises.

This wasn't a one-time raise. It was a multi-year capital strategy.

Retail capital helped Monogram:

Go from concept to commercialization without relying on VCs
Retain ownership and control in a high-burn industry
Build a base of loyal shareholders who invested not once, but over and over again
Uplist to the Nasdaq, and still keep raising post-IPO

This is what makes retail capital different. It doesn't expire—it compounds. And DealMaker is built to maximize that long-term value.

Ready to Raise Capital on Your Terms?

Whether you're pre-revenue or post-IPO, DealMaker gives you the infrastructure, support, and strategy to raise from the people who believe in you most.

Explore Raising Capital with DealMaker