Teamworks announced a Series E funding led by Dragoneer Investment Group, a San Francisco-based investment firm. The athlete engagement platform also announced the acquisition of Arms Software.
The recent round brings Teamworks’ total funding to $115 million in the last year and $165 million overall.
“We look for category-defining businesses with innovative, customer-centric technology and a proven leadership team that operates in large, global markets,” said Christian Jensen, partner at Dragoneer Investment Group. “Teamworks checks all those boxes and more. Their efficient and durable growth over the last several years is impressive. But what excites us most is their vision for an integrated platform that will fundamentally transform how sports and military organizations operate to support their athletes, service members, and staff.”
Terms of the Arms Software acquisition were not disclosed.
Arms Software provides over 400 collegiate athletic departments with tools to recruit talent, manage compliance, automate operations, and streamline camps. This comes after Teamworks acquired four companies into its Operating System for Sports—Smartabase, Retain, NextPlay, and Grafted.
“Our ability to raise $65M in this economic environment speaks volumes to our leadership position in the market. The new capital will continue to fund M&A and expand our growth into new regions and new areas of elite human performance,” said Zach Maurides, founder and CEO of Teamworks. “With the acquisition of Arms, we bring together the two most trusted tech brands in collegiate sports. 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.”
Teamworks, based in Durham, NC, provides tools for coaches and administrators to support athletes. It works with more than 6,000 sports, military and public safety organizations worldwide.
Teamworks said the acquisition is the next step in its journey to “transform sports technology by replacing redundancy with efficiency in elite sports and military organizations.” The 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.”
