April 12, 2023

Teamworks Closes $65 Million Series E and Acquires ARMS Software

Teamworks executes the most significant acquisition in college sports, adding the market leader in compliance, recruiting, and process automation into their operating system.

DURHAM, NC - [April 12, 2023] – Teamworks, an enterprise SaaS company serving elite sports and tactical organizations globally, has announced a Series E funding led by Dragoneer Investment Group, a San Francisco-based, growth-oriented investment firm. This recent round brings Teamworks’  total funding to $115M in the last year and $165M overall, expediting its ability to innovate within the sports technology space and enhance its product integrations.

“We look for category-defining businesses with innovative, customer-centric technology and a proven leadership team that operates in large, global markets,” said Christian Jensen, Partner at Dragoneer Investment Group. “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.”

In addition to closing their Series E, Teamworks announced the acquisition of ARMS Software. ARMS  empowers over 400 collegiate athletic departments with tools to recruit talent, manage compliance, automate operations, and streamline camps. This impactful union comes only months after Teamworks acquired four industry-leading companies into their Operating System for Sports™ - Smartabase, Retain, NextPlay, and Grafted  - and committed to delivering a complete compliance platform.

"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," said Zach Maurides, Founder and CEO of Teamworks. "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."

Teamworks provides best-in-class, purpose-built tools for coaches and administrators to support their athletes at every phase of their journey. 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. 

“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,” said Mike Hurt, CEO of ARMS Software. “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.”

This acquisition is the next step in Teamworks’ journey to transform sports technology by replacing redundancy with efficiency in elite sports and military organizations. 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 provide an open platform for third-party software providers to integrate into. 

ARMS is now part of Teamworks

About ARMS

ARMS is a trusted sports technology leader that supports recruiting, compliance, data integration, camps, and process automation functions. Today ARMS works with over 400 athletic departments nationwide and has proven to make departments more efficient by automating processes that historically required multiple touches by athletic department personnel. Visit teamworks.com/ARMS to learn more.

About Dragoneer Investment Group

Dragoneer Investment Group is a growth-oriented investment firm with over $20 billion under management and a flexible mandate to invest in high-quality businesses in both the public and private markets. For over a decade, Dragoneer has partnered with management teams growing exceptional companies characterized by sustainable differentiation and superior economic models. The firm seeks to deliver attractive returns while maintaining a focus on capital preservation and margin of safety. Dragoneer employs a rigorous diligence approach to identify the best businesses globally and has been an investor in companies such as Airbnb, Alibaba, AmWINS, Atlassian, AppFolio, Bytedance, Ceridian, Datadog, Doordash, Duck Creek, Farfetch, Livongo, Nubank, PointClickCare, Procore, ServiceNow, Slack, Snowflake, Spotify, Square, Twilio, Uber, and others.

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