Sports tech firm Teamworks valued US$1bn in latest funding round
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Diverging Reports Breakdown
Sports tech firm Teamworks valued US$1bn in latest funding round
US-based sports technology firm Teamworks has been valued at more than US$1 billion in a Series F financing round that raised US$235 million. Teamworks’ platform offers sports teams a suite of tools that provide support in areas such as talent acquisition, athlete development, game preparation and administrative tasks. It works with more than 6,500 sports teams globally, including Major League Baseball’s (MLB) Boston Red Sox, Premier League outfit Chelsea and New Zealand Rugby (NZR)
Confirmed:
Oversubscribed round led by returning investor Dragoneer Investment Group
Teamworks has now raised US$400 million in total funding
Context:
A self-described ‘operating system for sports’, Teamworks’ platform offers sports teams a suite of tools that provide support in areas such as talent acquisition, athlete development, game preparation and administrative tasks.
Founded in 2004, Teamworks works with more than 6,500 sports teams globally, including Major League Baseball’s (MLB) Boston Red Sox, Premier League outfit Chelsea and New Zealand Rugby (NZR).
Its previous financing round in April 2023, which was also led by San Francisco-based Dragoneer, delivered US$65 million. The company also made its latest acquisition earlier this month after buying Telemetry Sports, which will boost its coaching and video offering.
Comment:
“This significant investment validates our vision of creating the most comprehensive technology ecosystem in sports,” said Zach Maurides, chief executive and founder of Teamworks. “From our origins in communication and scheduling, to building the defining operating system for sports, this funding positions us to accelerate our data science capabilities and to shape the future of AI in sports.”
“Throughout our partnership, we have witnessed firsthand their remarkable execution, product expansion and growth trajectory,” added Christian Jensen, partner at Dragoneer Investment Group.
“Their innovations in talent acquisition, player development, gameday preparation, digital banking, and operational technology create a market-leading end-to-end experience. We’re excited to be a part of Teamworks’ next chapter as they continue to transform how sports organisations operate.”
Coming next:
Teamworks said it will use the funding to accelerate development of AI-powered solutions across its four product categories, expand its data science team, and improve the functionality of its platform.
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