Durham startup Teamworks, a venture launched by a former Duke University football player that provides mobile collaboration and communications software targeting athletic organizations, raised $6,250,000 in its first outside equity investment according to a filing with the U.S. Securities and Exchange Commission.
While the investment was disclosed earlier this week, the amount was not disclosed.
Teamworks raised funds from Seaport Capital, which led the Series A round. Seaport, which is based in New York, has made more than $700 million in investments in various software enterprises and has invested in sports franchises in the past.
Teamworks software is designed to streamline communication and information sharing among athletic organizations.
DUMAC, the investment arm of Duke University, also is an investor.
Other backers include David Cummings, the managing partner of Atlanta Ventures, as well as Inner Circle Ventures and the PagsGroup.
The company launched in 2004.
Its impressive list of clients include:
- 375 NCAA Division I programs, including 80 percent of Power 5 Conference institutions
- Three National Football League franchises
- Two Major League Baseball franchises
- USA Baseball
- Major League Lacrosse
- The NCAA
- Big Ten Conference
- Adidas Team Sales
For more information about Teamworks visit:
SEC filing: https://www.sec.gov/Archives/edgar/data/1679315/000167931516000001/xslFormDX01/primary_doc.xml
Previously on WRAL Techwire: https://wraltechwire.com/durham-startup-teamworks-lands-first-outside-investment-capital/15859194/