DURHAM — Teamworks, a software-as-a-service (SaaS) company that serves elite sports and tactical organizations globally, has announced a Series E funding round that raised $65m led by Dragoneer Investment Group.
The Durham-based company, which has now secured $115m in the last year and $165m overall, will use the funds to accelerate innovation in sports technology and product integrations, according to the company’s press release.
Durham startup Teamworks has raised $50M in latest funding round
“Our ability to raise $65M in this economic environment speaks volumes to our leadership position in the market,” said Zach Maurides, Founder and CEO of Teamworks, in the press release.
Teamworks also announced the acquisition of ARMS Software, a tool used by over 400 collegiate athletic departments to manage operations and streamline camps.
“With the acquisition of ARMS, we bring together the two most trusted tech brands in collegiate sports,” said Maurides in the release. “It’s an immediate game changer for our customers working to transform their operations and deliver an exceptional athlete experience. ARMS’ powerful workflow engine will have an impact beyond collegiate, with clear value to deliver for professional, Olympic, and military customer bases.”
The acquisition follows the company’s purchase of Smartabase, Retain, NextPlay, and Grafted earlier this year.
Teamworks, a 2022 Triangle Tweener-listed startup, provides purpose-built tools for coaches and administrators to support athletes at every stage of their journey.
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