We just raised $70m — our first-ever investment
To say it’s been an exciting, incredibly fulfilling journey, building Teamwork into the company it is today would be an understatement. Over the past 14 years, we’ve grown our bootstrapped business by being laser-focused on our suite of products, growing our talented team, and providing top-notch project management software to all of our amazing customers. That last bit is super important—we truly would not be here without you.
That’s why we’re so thrilled to announce Teamwork has raised our first-ever $70m growth investment from Bregal Milestone. We believe in Teamwork. We believe in the power our end-to-end project management software provides to our customers. And we couldn’t be more excited to use this investment to innovate even further on our product offerings, create the best experience for our customers, and enable more businesses to grow with our software.
Why take on investment?
There’s only one comprehensive, integrated platform for delivering client work with project management at its core, and that’s Teamwork. Unlike other project management solutions that exist today, Teamwork helps businesses deliver projects that grow their bottom line by providing visibility into both performance and profitability.
We have been proud to be bootstrapped and to have built a product that 20,000+ businesses love, but we believe the time is right to take Teamwork to the next level. We have an incredible vision for the platform we are building — we aim to be the best place in the world to run any client-services team. This investment will allow us to achieve that vision faster, attract great staff and invest in faster growth.
This investment from Bregal Milestone allows us to expand deeper into our market as we strive to make Teamwork synonymous with the phrase, “the best project management platform for client services in the world.” It will be hard work (and in true Teamwork fashion, we will make sure to have fun along the way) but we are dedicated to pouring ourselves even deeper into developing incredible products that meet our customers’ needs.
Our commitment to you
Over the years, many customers have said to me, “please don’t change”. Dan and I give you our commitment that as we scale up, we will stay true to our values and remain obsessed about our customers and our products. We aim to make Teamwork the de-facto best platform in the world for client service teams.
We will use the investment to:
Accelerate iterating on Teamwork based on your feedback.
Make the interface more beautiful and intuitive
Make the platform more robust and invest in speed
Give you the features we know you - and the market - are craving
Improve our onboarding, feature discovery, and training
Build out a strong community
Improve our communication with more in-person and online events
It’s exciting and we promise you that this means good things are coming your way.
We really took our time to find the perfect partner to invest in Teamwork. From all the investors we talked to, one stood out as completely understanding the Teamwork mission and values and being incredibly excited for what we are building - and that’s our new partner, Bregal Milestone.
Bregal Milestone is one of the world’s leading growth investors. With Bregal Milestone’s history of investing in ambitious high-growth technology companies, we believe this will be a great partnership.
The team at Bregal Milestone matches our values of being down-to-earth, product obsessed, and customer-centric. We believe that we picked a great partner and are super excited to be working together to scale Teamwork faster.
What’s next for Teamwork?
This investment won’t change our vision, who we are as a team, or what we believe in. And this milestone would not be possible without the trust of our 20,000+ customers from around the world that rely on our software to run their businesses.
We couldn’t have gotten here without the amazing staff at Teamwork. It has been a fun and incredible journey from the day we opened our doors with a small (but mighty) team to now growing to over 270 people worldwide. Along with our customers, the backbone of Teamwork has always been our people. We are committed to continuing to build the best place to work for our staff, and to scale remarkable experiences and growth accelerators for our team.
To our team, customers, our friends and families, and everyone who has been a part of our journey, we cannot thank you enough for your continued support in our company, and we’re excited to share our progress with you all as we put this investment to work. We are incredibly fortunate as a business (and as people!) to have made it this far on this journey, but we’re far from being done.
Not by a long shot.