Teamwork $70m financing round
Torch Partners acted as exclusive financial adviser to Teamwork, the leading Project Management SaaS solution focused on Professional Services companies, on its first ever fundraise of $70 million led by Bregal Milestone.
Trusted by more than 20,000 teams across 170 countries, Teamwork has revolutionised how companies manage their daily workflows for improved automation, productivity and profitability. Teamwork provides an intuitive SaaS platform for Client Services companies, helping them to track, manage and invoice their projects as well as providing a full suite of tightly integrated solutions such as helpdesk, collaboration, knowledge sharing and customer relationship management add-ons; enabling Teamwork to be the ‘one-stop-shop’ practice management solution for business owners. Teamwork has offices in 5 countries and a global team of 270 employees.
A privately-owned company that has never received any external funding from investors before today, Teamwork is a true Irish success story. Entrepreneurs Peter Coppinger and Daniel Mackey founded Teamwork in 2007 and grew the business profitably since its inception.
The growth investment will be used to accelerate international expansion and to scale significantly its team across all areas of the business.
This transaction further demonstrates Torch Partners’ expertise and track record in advising SaaS companies on raising growth equity capital.
)
)