Teamworks Secures $235M to Propel AI Innovations in Sports Tech

In a major leap for sports technology, Teamworks, known as the Operating System for Sports™, has successfully raised $235 million in an oversubscribed Series F funding round. This financing was led by the returning investor, Dragoneer Investment Group, and closed with a pre-money valuation exceeding $1 billion. The funds will play a pivotal role in advancing AI innovations across professional, collegiate, and Olympic sports programs, solidifying Teamworks' position as the preeminent player in the sports tech landscape.

Zach Maurides, CEO and Founder of Teamworks, expressed his enthusiasm for the investment, stating, "This significant investment validates our vision of creating the most comprehensive technology ecosystem in sports. We initially aimed to create powerful communication and scheduling tools but have evolved to build an operating system that unifies various sports-related functions. This funding enables us to accelerate our data science capabilities and chart the future of AI in sports."

A Comprehensive Sports Technology Ecosystem

Teamworks has designed its platform around four key pillars, enhancing the performance of elite sports teams:
1. Personnel: Targeting front office staff, the platform aids in talent identification, acquisition, and development aimed at forming championship-winning teams.
2. Performance: Integrated performance teams have access to evidence-based, personalized care that boosts athlete readiness for competition.
3. Coaching: For coaches, the platform consolidates game preparation by integrating video, data insights, and reporting into a user-friendly setup.
4. Operations: Organizational leaders benefit from streamlined communication, logistics, and administrative operations, empowering staff and connecting players effectively.

The timing of this investment is particularly promising; Teamworks' system is already utilized by 100% of NFL teams, 90% of MLB and Premier League clubs, and a significant proportion of teams across other leagues, including 87% of the NBA, 83% of MLS, and 81% of NHL franchises. Notably, it also serves 99% of NCAA Division I athletic departments and more than 65 Olympic federations in 24 countries.

A Strong Partnership with Dragoneer

Christian Jensen, Partner at Dragoneer Investment Group, commented on Teamworks’ ascent, saying, "Teamworks is the unmatched leader in sports technology, providing critical solutions that are necessary for organizations across the sports ecosystem. Our partnership has enabled us to observe their remarkable execution and product expansion firsthand, and we believe in their capabilities to continue delivering an unparalleled end-to-end experience."

The raised funds will allow Teamworks to fast-track the development of AI-enabled solutions across its product categories. This entails bolstering its elite data science team and enhancing AI-driven insights that promise smarter, rapid decision-making processes for athletes, coaches, and administrators alike.

Innovations on the Horizon

The Company's commitment to innovation is reflected in its pursuit of improved platform functionality through better data unification and deeper integration with strategic partners’ technologies. A consolidated mobile application is also in the works, aimed at delivering real-time alerts and context-aware recommendations, underpinned by advanced machine learning and data science capabilities.

Kyle Charters, CFO of Teamworks, elaborated on this strategy, stating, "Our customers choose to partner with us because we're a stable, trustworthy entity in the industry that has offered premium solutions for over 18 years. As the dynamics of the sports arena evolve, this monumental milestone opens up resources for significant investment necessary for innovation and top-tier talent that will help our partners excel in their endeavors."

About Teamworks

Established in 2004, Teamworks has emerged as the foremost operating platform for high performance, supporting over 6,500 sports teams and military organizations globally. Their exceptional suite of products is designed to facilitate data-driven talent acquisition, holistic athlete development, effective game preparation, and operational excellence. Through strategic acquisitions of companies like INFLCR and ARMS Software, Teamworks has expanded its suite to meet the ever-changing needs of high-performance environments.

Headquartered in Durham, North Carolina, Teamworks continues to lead the charge in innovations that reshape the landscape of sports technology and human performance solutions. To learn more, visit teamworks.com.