Teamworks – an enterprise SaaS company serving elite sports and tactical organizations – announced a $65 million Series E funding round led by Dragoneer Investment Group. This recent funding round brings Teamworks’ total funding to $115 million in the last year and $165 million overall – which expedites the company’s ability to innovate within the sports technology space and enhance its product integrations.
Along with closing the Series E funding round, Teamworks announced the acquisition of ARMS Software. ARMS empowers more than 400 collegiate athletic departments with tools to recruit talent, manage compliance, automate operations, and streamline camps. And this impactful union comes just months after Teamworks acquired 4 industry-leading companies into their Operating System for Sports: Smartabase, Retain, NextPlay, and Grafted.
Teamworks offers purpose-built tools for coaches and administrators to support their athletes at every phase of their journey. And through continued integrations, now accelerated with the addition of ARMS, Teamworks will provide athletes a single mobile front door, aggregating their responsibilities on and off the field.
The acquisition is the next step in Teamworks’ journey to transform sports technology by replacing redundancy with efficiency in elite sports and military organizations. And the complete operating system – now comprising Hub, INFLCR, Notemeal, Whistle, Communities, Smartabase, Retain, Pulse, and ARMS – will digitize the athlete and service member life cycle and offer an open platform for third-party software providers to integrate into.
KEY QUOTES:
“We look for category-defining businesses with innovative, customer-centric technology and a proven leadership team that operates in large, global markets. 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.”
– Christian Jensen, Partner at Dragoneer Investment Group
“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. 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.”
– Zach Maurides, Founder and CEO of Teamworks
“Teamworks is the clear leader in the sports tech industry, with an expanding footprint and a vision to integrate best-in-class purpose-built tools that service the athlete. This strategy is gaining momentum, and we know that ARMS can help make that vision a reality and partake in drastically changing the market. Teamworks and ARMS Software have independently revolutionized college athletics with their complementary product offerings; now is the time to bring the companies together to leverage each other’s strengths and deliver a complete package for the customer.”
– Mike Hurt, CEO of ARMS Software
