.png)
.png)
Total amount raised
$403.7M
Latest funding date
2025-06-17
Location
Teamworks has successfully raised funding through multiple rounds, attracting notable investors such as CIBC Innovation Banking and Dragoneer Investment Group. The platform serves as a comprehensive operating system for sports organizations, enhancing operations, talent acquisition, and performance development.
What Is Teamworks?
Teamworks, founded in 2006, is based in Durham, North Carolina. The company was established by Mitch Heath, Shaun Powell, and Zachary Maurides. It employs between 251 and 500 people.
Teamworks provides a centralized platform for sports organizations to manage operations, communication, and athlete engagement. Their suite of applications supports logistics coordination, recruiting, compliance, performance nutrition, and athlete development.
The platform serves a diverse clientele, including collegiate and professional sports teams, Olympic and national governing bodies, as well as military and tactical units.
How Much Funding Has Teamworks Raised?
- Series A
- Amount Raised: $6M
- Date: July 2016
- Lead Investors: Seaport Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: First outside funding round to expand the platform's capabilities and increase market penetration.
- Series B
- Amount Raised: $15.3M
- Date: February 2018
- Lead Investors: General Catalyst (new investor); Seaport Capital (returning)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and support growth initiatives.
- Series C
- Amount Raised: $25M
- Date: April 2020
- Lead Investors: Delta-v Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and invest in new technologies. Participating investors included Afia Capital, Stadia Ventures, General Catalyst, Seaport Capital, DUMAC, Steve Pagliuca, and Reggie Love.
- Series D
- Amount Raised: $50M
- Date: June 2022
- Lead Investors: Delta-v Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand into new markets. Participants included Seaport Capital, General Catalyst, Teamworthy Ventures, Blossom Street Ventures, Afia Capital, and over 30 professional athletes.
- Series E
- Amount Raised: $65M
- Date: April 2023
- Lead Investors: Dragoneer Investment Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate global expansion, enhance platform offerings, and support mergers and acquisitions, including the acquisition of ARMS Software.
- Venture Round (Series E Extension)
- Amount Raised: $12.4M
- Date: July 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand its user base.
- Debt Financing
- Amount Raised: Undisclosed
- Date: April 2025
- Lead Investors: CIBC Innovation Banking (lead arranger and administrative agent)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support future organic and inorganic strategic growth initiatives via a syndicated credit facility.
- Series F
- Amount Raised: $235M
- Date: June 17, 2025
- Lead Investors: Dragoneer Investment Group
- Valuation at Round: Pre-money valuation exceeding $1.0 billion (Unicorn status)
- Motivation Behind the Round: To accelerate AI-powered innovation, expand the data science team, and enhance platform functionality across professional, collegiate, and Olympic sports.
Total Amount Raised: At least $403.7M based on disclosed funding (Series F of $235M brings the total; debt financing round amount undisclosed). Current Valuation: Pre-money valuation exceeding $1.0 billion (as of June 2025).
Key Investors
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a growth-oriented investment firm with $30B+ AUM that invests in leading companies across public and private markets. They led Teamworks' Series E (2023) and Series F (2025) rounds.
- Investment Focus Areas: High-quality growth businesses across various sectors.
- Notable Investments: Airbnb, Slack, Uber.
- Delta-v Capital
- Details: Delta-v Capital is a private equity and venture capital firm focused on growth-stage technology companies. They led Teamworks' Series C (2020) and Series D (2022) rounds.
- Investment Focus Areas: Technology, software, growth-stage companies.
- Notable Investments: Cloud Sherpas, LogRhythm, Zayo Group.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in companies driving positive change. They led Teamworks' Series B (2018) and have participated in subsequent rounds.
- Investment Focus Areas: Companies that drive positive change across various industries.
- Notable Investments: Airbnb, Stripe, Snap.
- Seaport Capital
- Details: Seaport Capital is a private equity firm focused on communications, information, and business services companies. They led Teamworks' Series A (2016) and have participated in subsequent rounds.
- Investment Focus Areas: Communications, information, business services.
- Notable Investments: Horizon Telecom, Metrocast, DataBank.
What's Next for Teamworks?
Teamworks stands on the brink of significant global expansion, driven by its recent $65 million Series E funding round. This capital injection will enable the company to enhance its platform offerings and pursue strategic acquisitions, such as the recent purchase of ARMS Software. These moves position Teamworks to serve a broader range of elite sports and military organizations, potentially impacting thousands of teams and departments worldwide.
Future fundraising opportunities appear promising, given the company's growth trajectory and the increasing demand for integrated sports technology solutions. However, challenges lie ahead, including the integration of new acquisitions and maintaining a competitive edge in a rapidly evolving market. As Teamworks navigates these complexities, its focus on innovation and strategic growth will be crucial for sustained success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay's platform to access comprehensive fundraising data on companies like Teamworks and gather other critical business insights. Sign up for free and start making data-driven decisions today.
