Durham sports startup hits $1B valuation
Why it matters: The valuation would put Teamworks into the Triangle's small club of unicorn startups (startups with valuations of $1 billion or more) and comes at a time when funding rounds have been less plentiful than in recent years.
Driving the news: Teamworks unveiled the valuation on Tuesday during a new $235 million funding round led by Dragoneer Investment Group.
What it does: Founded in downtown Durham by former Duke offensive lineman Zach Maurides, Teamworks runs a software platform that helps sports teams manage their players' schedules, nutrition and even their online brand — a feature that has become popular in the era of NIL.
The company says that more than 6,500 sports teams and military organizations worldwide use its software platform, including every NFL team, most Division I college athletic departments and 90% of MLB teams.
The goal of the new funding round is to add more artificial intelligence-driven products using the massive amounts of data it has collected on athletes worldwide.
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