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Here are the Triangle's largest "unicorn" startups
Here are the Triangle's largest "unicorn" startups

Axios

time07-07-2025

  • Business
  • Axios

Here are the Triangle's largest "unicorn" startups

When Durham-based sports software company Teamworks revealed last month it had gained a valuation of more than $1 billion, it became the Triangle's first tech startup to join the " unicorn" club — startups surpassing a $1 billion valuation — in more than three years. Why it matters: While the early pandemic years saw an influx of cash go to startups due to low interest rates, raising money has grown significantly more difficult over the past two years. But there are signs that such investments could be picking back up, Scot Wingo, a local investor, told Axios. What they're saying: "It's whipsawing around," Wingo said of investments into startups, noting investment companies seem less concerned now about tariffs. "There is a lot of private equity deals going on, and there have been a couple high-profile IPOs that have gone well," he added. "It definitely feels like directionally we are going in the right way." Between the lines: It's been years since the Triangle had a startup go public on a stock exchange, and startups valued at more than $1 billion represent some of the region's best chances of hitting that mark. An IPO could potentially provide financial windfalls for some local employees and investors that could flow back through the local economy. Wingo said many people are watching to see how well Figma's potential IPO fares, as an encouragement for local startups like Pendo or SAS. Zoom in: There are more than 1,200 startups around the world valued at $1 billion or more, according to CB Insights. Five of them are located in the Triangle, according to data from CB Insights, Pitchbook and Crunchbase. Here are the startups in the Triangle that have fetched "unicorn" valuations: 🕹️ Epic Games: The Cary-based video game maker has a valuation of $22 billion, according to CB Insights, after raising $1.5 billion from Disney last year. The company is the 13th most valuable startup in the world, according to CB Insights, and is so large that Axios' Dan Primack suggested referring to startups of its size as "dragons" rather than unicorns. Locally, the company has a large presence in Cary, with more than 3,000 employees. However, it has withdrawn plans to build a new headquarters on the former site of Cary Towne Center. 🖥️ Pendo: The Raleigh software startup has a valuation of $2.6 billion, according to Pitchbook, and has long held ambitions of going public. The company has conducted layoffs in recent years, but remains one of the largest tech firms in Raleigh and became profitable for the first time last year. 🏈 Teamworks: Founded by a former Duke football player, Durham-based 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 now has a valuation of $1.2 billion, according to Pitchbook, and its customers include every NFL team, most Division I college athletic departments and 90% of MLB teams. 🔐 JupiterOne: Morrisville-based JupiterOne, a maker of cybersecurity tools, has a valuation of $1 billion, according to Pitchbook. The company's founder, N.C. State grad Erkang Zheng, stepped down as CEO last year. But he is now raising money for a new AI startup, though details on the company have not yet been revealed.

Durham sports startup hits $1B valuation
Durham sports startup hits $1B valuation

Axios

time07-07-2025

  • Business
  • Axios

Durham sports startup hits $1B valuation

Teamworks, a Durham-based startup making software for professional and college sports teams, is now valued at $1 billion after raising new money from investors. 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.

Sports software maker Teamworks valued at over $1 billion in latest funding round
Sports software maker Teamworks valued at over $1 billion in latest funding round

Straits Times

time17-06-2025

  • Business
  • Straits Times

Sports software maker Teamworks valued at over $1 billion in latest funding round

Sports technology firm Teamworks said on Tuesday it was valued at over $1 billion after raising $235 million in a funding round led by Dragoneer Investment Group, as it looks to capitalize on the rise of analytics-driven strategies in sports. The trend toward data-driven decision-making in sports, popularized by Billy Beane of "Moneyball" fame, is fueling increased investment in analytics tools and partnerships, especially as U.S. universities take advantage of relaxed college athlete sponsorship rules. The latest round will help Teamworks advance its AI-powered offerings across professional, collegiate and Olympic sports programs. "As the sports landscape changes and as our customers' ambitions grow, this milestone provides significant resources to invest in innovation and world-class talent that will help them succeed," said Kyle Charters, chief financial officer of Teamworks. The Durham, North Carolina-based company provides a unified platform for communication, operations and performance analytics to over 6,500 sports teams worldwide, including all NFL and most NBA teams, according to the company. Teamworks has expanded its offerings in recent years through acquisitions, including its entry into the coaching space with the purchase of Telemetry Sports earlier this month. The latest fundraise, which was a combination of primary and secondary, comes two years after Teamworks raised $115 million in its Series E round. Startups are opting to remain private for extended periods, securing larger sums in late-stage funding rounds as the recovery of public markets continues at a sluggish pace. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.

Sports software maker Teamworks valued at over $1 billion in latest funding round
Sports software maker Teamworks valued at over $1 billion in latest funding round

CNA

time17-06-2025

  • Business
  • CNA

Sports software maker Teamworks valued at over $1 billion in latest funding round

Sports technology firm Teamworks said on Tuesday it was valued at over $1 billion after raising $235 million in a funding round led by Dragoneer Investment Group, as it looks to capitalize on the rise of analytics-driven strategies in sports. The trend toward data-driven decision-making in sports, popularized by Billy Beane of "Moneyball" fame, is fueling increased investment in analytics tools and partnerships, especially as U.S. universities take advantage of relaxed college athlete sponsorship rules. The latest round will help Teamworks advance its AI-powered offerings across professional, collegiate and Olympic sports programs. "As the sports landscape changes and as our customers' ambitions grow, this milestone provides significant resources to invest in innovation and world-class talent that will help them succeed," said Kyle Charters, chief financial officer of Teamworks. The Durham, North Carolina-based company provides a unified platform for communication, operations and performance analytics to over 6,500 sports teams worldwide, including all NFL and most NBA teams, according to the company. Teamworks has expanded its offerings in recent years through acquisitions, including its entry into the coaching space with the purchase of Telemetry Sports earlier this month. The latest fundraise, which was a combination of primary and secondary, comes two years after Teamworks raised $115 million in its Series E round.

Sports software firm Teamworks notches over $1 billion valuation in latest funding round
Sports software firm Teamworks notches over $1 billion valuation in latest funding round

Time of India

time17-06-2025

  • Business
  • Time of India

Sports software firm Teamworks notches over $1 billion valuation in latest funding round

Sports software maker Teamworks said on Tuesday it was valued at over $1 billion in its latest funding round , which was led by California-based Dragoneer Investment Group , an existing investor. The Durham, North Carolina-based company raised $235 million in its latest funding round, the company added. Founded in 2004, Teamworks provides sport-specific predictive models and metrics to more than 6,500 sports teams globally. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories

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