Durham-based Teamworks Innovations Raises $15.3 Million

Teamworks Innovations Inc. has raised $15.3 million in equity, according to a Wednesday filing with the Securities and Exchange Commission.

The money was raised by nine investors, according to the filing.

New York-based Inner Circle Sports received $670,000 in sales compensation on the deal.

Teamworks provides collaboration software for athletic organizations.

Led by CEO and founder, Zach Maurides, the Durham-based company helps athletic teams and organizations improve the way they share information and communicate.

Maurides was a sophomore football player at Duke when he came up with the idea for a mobile app to make communication easier for large groups.

The firm now services more than 1,000 pro and college clients globally.

The NCAA is one of the company’s clients and is the hub of communications for 132 teams in the men’s and women’s basketball tournaments.

In July 2016, Teamworks raised $6.25 million in its first round of funding.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

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