Teamworks, a Durnham, N.C-based enterprise SaaS company serving elite sports and tactical organizations globally, announced that it closed $65 million in Series E funding round led by Dragoneer Investment Group, a San Francisco-based, growth-oriented investment firm.
This recent round brings Teamworks' total funding to $115M in the last year and $165M overall, expediting its ability to innovate within the sports technology space and enhance its product integrations.
The funding will be used to fuel the company's growth and product development. Additionally, Teamworks has announced its acquisition of ARMS Software, a provider of software solutions for collegiate athletic departments.
“The new capital will continue to fund M&A and expand our growth into new regions and areas of elite human performance. With the acquisition of ARMS, we bring together the two most trusted tech brands in collegiate sports. It's a game changer for those working to transform their operations and deliver an exceptional athlete experience. ARMS' powerful workflow engine will have an impact beyond collegiate, with clear value for professional and military customers.” Founder and CEO, Teamworks Zach Maurides.
Teamworks offers coaches and administrators purpose-built tools to assist their athletes at every stage of their athletic journey. With the acquisition of ARMS, Teamworks can integrate even more features and provide athletes with a unified mobile platform that consolidates their on- and off-field responsibilities.
This acquisition is the next step in Teamworks' journey to transform sports technology by replacing redundancy with efficiency in elite sports and military organizations. The complete operating system – now comprising Hub, INFLCR, Notemeal, Whistle, Communities, Smartabase, Retain, Pulse, and ARMS – will digitize the athlete and service member life cycle and provide an open platform for third-party software providers to integrate into.
Company: Teamworks Innovations, Inc.
Raised: $65 million
Round: Series E
Funding Month: April 2023
Lead Investors: Dragoneer Investment Group
Additional Investors:
Company Website: https://www.teamworks.com/
Software Category: Communication and Operations Software
About the Company: Founded in 2006 by Zach Maurides, Teamworks is a sports tech company that provides communication and operations software for athletic teams. Teamworks provides innovative cost and time-saving software solutions to nationally ranked NCAA and professional teams in leagues including the NFL, MLB, NHL, NBA, MLS, MLL, Premier League, global rugby, and AFL. The company's platform helps teams manage schedules, communicate with athletes, and handle other logistics. Teamworks drives performance for more than 6000 professional and collegiate sports teams around the world. Based in Durham, North Carolina, Teamworks continues to expand its global presence with employees across ten countries and offices in London, England, and Brisbane, Australia.
Source: https://www.prnewswire.com/news-releases/teamworks-closes-65-million-series-e-and-acquires-arms-software-301794703.html