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Monday, July 22, 2024
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Sports Tech Platform Brings in $50M, Eyes Acquisitions

  • Sports tech company Teamworks raised $50 million in a Series D round.
  • The company will seek to make acquisitions with the funding.

As technology becomes more ubiquitous at every level of sports, there’s a growing need for software that streamlines information and apps into a unified platform.

A tech company called Teamworks seeks to fill that need, announcing on Tuesday a $50 million Series D round from a host of investment firms and athletes. 

The company’s platform provides a hub for scheduling and communication within teams, as well as serving as a platform for third-party apps utilized by teams and athletes.

  • The round, led by Delta-v Capital, brought Teamworks total funding up to $100 million
  • General Catalyst, Seaport Capital, Teamworthy Ventures, Afia Capital, and more than 30 athletes, including NBA Hall of Famer David Robinson, Atlanta Falcons quarterback Marcus Mariota, and NWSL player Jessica McDonald, participated in the round.
  • Teamworks says it works with over 4,000 college teams, 27 NFL teams, 20 NHL teams, 14 MLB teams, 12 NBA teams, and 10 MLS teams.

Next Play: Acquisitions

Teamworks acquired sports social media platform INFLCR in 2019 and nutrition platform Notemeal in 2021. The company is looking to make more additions with its latest funding.

“We will continue to look at acquisitions within sports tech, focused on tools that drive value for our existing customer base across collegiate and professional sports,” Teamworks founder and CEO Zach Maurides told Front Office Sports.

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