Teamworks Acquires INFLCR For An Undisclosed Amount
Teamworks and INFLCR, two technology businesses that have grown up in the college space, are joining forces. Teamworks announced today that it has acquired INFLCR for an undisclosed amount in a deal that will provide INFLCR with greater resources and spur its already considerable growth. The two brands will continue to operate separately, said Teamworks Founder & President Zach Maurides. INFLCR Founder & President Jim Cavale will maintain his role. "It's our intention that INFLCR will continue to operate as a fully owned subsidiary of Teamworks," Maurides told THE DAILY. "We will not only keep their entire team and operation intact, but actually invest in and accelerate their growth." Teamworks, based in Durham, N.C., works with college and pro teams, the CFP, the NCAA and other businesses to help them stay connected. The Teamworks technology keeps the players and coaches on the same page by delivering team information about meetings, meals, practices and other events real time. Birmingham-based INFLCR works with athletes to help them build their brand on social media by giving them access to photos and videos.
COME TOGETHER: Cavale said INFLCR, which he founded two years ago, had reached a point in its growth where it was time to take on a partner that could invest in the company. He spoke with several venture capital firms, but ultimately decided that Teamworks was a better fit. "It can help us really speed up the process of going from 400 college teams to 2,000 and from 10,000 active athletes to 50,000, and then do the same at the pro level," Cavale said. Teamworks already has been through two rounds of fundraising -- Series A in '16 raised $6.25M; Series B in '18 drew $15.3M. Maurides was introduced to Cavale two years ago, about the time he was starting INFLCR, by Mark Thompson, a Duke football teammate of Maurides'. They quickly became friends. Maurides, who started his business from a class project at Duke, said he saw INFLCR on a similar trajectory as Teamworks five years ago when Teamworks had just 10 employees. It now has more than 100. INFLCR currently has 20 employees. Even though the companies will retain their separate brands, "We're going to learn a lot from Jim and his team," Maurides said. "They've developed some skills and abilities that we, I think at Teamworks, are going to benefit from quite a bit."