DURHAM – Teamworks now has even more skin in the game.
The Durham-based software startup launched by a former Duke University football player has raised another $25 million in Series C led by Delta-v Capital, bringing its total funding to more than $45 million to date.
The round includes participation from new investors Afia Capital, a private investment platform backed by professional athletes, and Stadia Ventures, a global sports innovation hub for entrepreneurs, industry partners and investors. Returning investors participating in the round include General Catalyst, Seaport Capital, DUMAC, Steve Pagliuca and Reggie Love.
Its CEO and founder, Zach Maurides, said this latest round of financing will allow Teamworks to continue its “momentum and global growth,” adding that the company had partnered with organizations from four continents over the last year.
It’s now estimated that 3,000 teams worldwide use its platform to engage their athletes, including half the teams in all the big American sports leagues — the NFL, MLB, NHL and NBA, as well as collegiate and professional conferences and more.
Teamworks’ mobile app for athletes.
“In this environment, we know the need for strong communication, strategic risk management and meaningful preparation is vital,” said Teamworks’ founder and CEO Zach Maurides, in a statement. “Now more than ever, we’re seeing how Teamworks empowers organizations to be successful, throughout any circumstances. We’re thrilled to partner with Delta-v and use these resources to deepen our commitment to athletes and those who serve them.”
Back in 2010, Maurides launched Teamworks after playing football at Duke University as an offensive lineman and experiencing firsthand how difficult it was to get a team of players all working together on the same page.Then a sophomore, he came up with the idea of a web-based platform to help players and coaches share information and communicate better.
Today, the platform is used by sports teams all over the world to operate more efficiently by streamlining communication, scheduling, file sharing and travel, ultimately allowing athletes, coaches and staff to eliminate time wasted on logistics.
“We believe that sports is an emerging frontier for software adoption, and Teamworks is at the center of that wave providing the market leading platform for collaboration and engagement with athletes,” said Dan Williams, partner at Delta-v Capital, in a statement. “Prior to this pandemic, Teamworks’ customers raved about their product, but like Zoom, it has become even more mission critical at a time when sports organizations are operating in a remote environment. We are excited to partner with Teamworks and their amazing team on this next phase of growth.”
Delta-v Capita targets investments in growing, market-leading technology companies in sectors including enterprise software, vertical SaaS, information services, cybersecurity, data analytics, DevOps, and cloud infrastructure and services, and offices in Boulder, CO and Dallas, TX.
With swank, bigger office, Durham’s Teamworks roars into growth mode
