Teamworks Secures $235 Million to Propel AI Innovations in Sports
Teamworks Secures $235 Million to Propel AI Innovations
Oversubscribed Series F Financing Led by Dragoneer Investment Group
Teamworks, known as the Operating System for Sports™, has made headlines by successfully raising $235 million in an oversubscribed Series F financing round, led by the prominent Dragoneer Investment Group. This funding round has placed the company's valuation over $1 billion, marking a significant milestone.
The infusion of capital is set to accelerate Teamworks' mission to enhance AI-powered solutions across various sports programs, extending from professional to collegiate and Olympic levels. This commitment not only elevates Teamworks’ standing in the sports tech landscape but also reinforces its role as a pivotal player in shaping the future of sports innovations.
As expressed by Zach Maurides, CEO and Founder of Teamworks, “This substantial investment supports our goal of creating a holistic technology ecosystem in sports. We originated from a focus on communication and scheduling, and this funding empowers us to advance our data science initiatives to redefine AI's role in sports.”
Teamworks has garnered a reputation as the premier provider of sports technology, concentrating on four essential pillars that facilitate success through a comprehensive platform. These pillars include:
Personnel: This pillar focuses on front office operations, aiding in talent identification, acquisition, and development necessary to build championship-caliber teams.
Performance: Tailored for performance teams, it offers evidence-based, personalized care strategies to enhance athlete availability and preparedness.
Coaching: This section of the platform assists coaching staff by integrating video analysis and data-driven insights, streamlining game-day preparations through a unified mobile-friendly interface.
Operations: Designed for organizational leaders, it enhances communication and logistics across all team functions, thus empowering both staff and players to work more efficiently.
The timeliness of this investment aligns perfectly with Teamworks' operating system, which is already favored by a multitude of athletic organizations worldwide. This includes substantial coverage in major leagues such as the NFL, MLB, NBA, NHL as well as numerous NCAA athletic departments and Olympic federations.
Christian Jensen, a Partner at Dragoneer Investment Group, remarked, “Teamworks excels in delivering essential solutions that are crucial to various sports organizations. We have been impressed by their capacity for product innovation and growth. Their ongoing advancements in various technology domains create a comprehensive and market-leading experience.”
The new funding comprises a blend of primary and secondary investments and will significantly support the development of AI-driven solutions across all product categories. Teamworks plans to expand its world-class data science team and refine AI insights that enable athletes, coaches, and administrators to make quicker, more informed decisions. Enhancements include improved data unification and richer integration with key partner technologies, alongside a streamlined mobile app equipped with real-time notifications and context-aware recommendations fueled by advanced machine learning capabilities.
According to Kyle Charters, CFO of Teamworks, “We maintain strong partnerships with our clients because of our 18-year commitment to delivering premium solutions. As the requirements of sports organizations evolve, this significant funding allows us to continually invest in innovation and acquire top talent essential for our partners’ success.”
About Teamworks
Teamworks is recognized as the foremost operating system catering to high-performance environments, supporting over 6,500 sports teams and military organizations globally. Their robust suite of products leverages data-driven tactics for talent acquisition, performance enhancement, game preparation, and operational excellence. Founded in 2004, Teamworks has strategically expanded its range of offerings through several acquisitions, including INFLCR and ARMS Software, among others. With headquarters in Durham, North Carolina, Teamworks is committed to remaining at the forefront of sports technology innovation.
About Dragoneer Investment Group
Dragoneer Investment Group operates as a growth-focused investment firm with over $25 billion in assets under management. They prioritize partnering with high-quality businesses in the public and private sectors, aiming for sustainable differentiation and impressive economic models. With a history of investing in notable companies and exceptional management teams, Dragoneer seeks attractive returns while maintaining a strategic emphasis on capital preservation.
Frequently Asked Questions
What is the recent funding amount raised by Teamworks?
Teamworks raised $235 million in an oversubscribed Series F financing round.
Who led Teamworks' Series F financing round?
The financing round was led by Dragoneer Investment Group.
What does Teamworks' Operating System for Sports™ focus on?
The operating system focuses on areas like personnel management, athlete performance, coaching, and operational logistics.
How many sports teams and organizations does Teamworks support?
Teamworks serves over 6,500 sports teams and military organizations around the globe.
Where is Teamworks headquartered?
Teamworks is headquartered in Durham, North Carolina.
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