Scout Future of Work

Scout operates a platform serving college athletic departments and their athletes around the financial mechanics introduced by name, image and likeness (NIL) compensation. For schools, the product covers budgeting and roster planning, cap management (setting a cap and allocating it by position or player with real-time visibility), payment processing for per diems, bonuses and NIL payments, and automated approval routing intended to produce a compliance paper trail. Administrators work in an admin portal called Scout Command.

For athletes, the platform tracks NIL earnings and payouts, supports spending plans that adjust to changing income, and provides help forming an LLC and opening business bank accounts, plus education on taxes, compliance and filing dates. Athletes also receive one-on-one access to Scout staff for questions on NIL income, taxes, business setup and budgeting. Engagements follow a demo, structured onboarding for athletes and staff, and ongoing one-on-one sessions.

Investment management and advisory services are provided by ELV8 Inc., doing business as Scout, an SEC-registered investment adviser, which also supplies the financial planning tools.

Founding story

Co-founder Mike grew up watching his father, a top-10 NFL Draft pick, lose most of his wealth by retirement, which framed his interest in why high earners often end up with little. He attended Columbia Business School, worked at Goldman and Lazard, and managed money for athletes including Steph Curry and Michael Phelps before deciding that the arrival of NIL in college sports created an opening. He built the company with Cindy, an immigrant and startup builder.

Business model

Scout sells a platform and accompanying advisory services to college athletic departments, which deploy it across their rosters; athletes receive tools, education and one-on-one financial support through their school's program.

Traction

The company states it is trusted by more than 7,000 athletes across more than 30 school partners, with named partners including the University of Louisville and Old Dominion University.