WillItSurvive
Enterprise and productivity software · Ireland

Teamwork.com

teamwork.com ↗

Project management and billing software for client-based agencies and teams.

Losing its protection
Assessed 22 July 2026 · Evidence as of 22 July 2026
The structural protection is eroding.
On the recordSince 22 July 2026 · Checkable from 2026-2027 · Every call on the record Checkpoint: Bregal Milestone's five-year private equity hold since 2021 nears typical exit window
The call

Teamwork stays profitable on agency billing workflows, but sits at #13 in project management while bigger rivals build the same features AI makes easy to copy.

Teamwork.com helps service companies track time, set budgets, and send invoices all in one place. It has real customers and makes real money, but bigger competitors like monday.com and ClickUp are adding similar features, and there is nothing unique about Teamwork that these larger rivals cannot copy. The one thing that matters most is whether Teamwork can grow its customer base faster than its larger competitors ship their own versions of its core features, or whether its private equity owner decides to sell the company.

Why
01
AI pressure: ChatGPT and Claude powering generic AI assistants inside rival PM tools. AI chat layers are cheap to copy, so Teamwork's AI Teammates add little that ClickUp or monday.com can't replicate fast. Could AI do the core job? Only partly.
02
Bigger players: monday.com, ClickUp, and Asana adding PSA and billing features. These generalists are bolting on time tracking and retainer billing to chase agencies, aiming right at Teamwork's core workflow. Could a giant copy it? Yes, easily.
03
What protects it. Its billing-linked workflow holds years of client budget, time, and invoice data that's painful to migrate away from.
What would change this call
Teamwork's Ramp rank moves from #13 to below #15 or improves within 12 months. Would show whether its project management adoption is accelerating or eroding.
monday.com or ClickUp launch dedicated time-to-budget or retainer billing features. Would show generalists closing the PSA workflow gap that is Teamwork's main moat.
Bregal Milestone announces an exit, sale, or new funding round for Teamwork. Would show whether the 2021 PE investment is nearing a liquidity event affecting ownership.
Key numbers
  • #13 in PM software, under 1% adoption (2026-07-15)
  • $83.3M estimated ARR, up from $45M (2024-10-16)
  • 546 employees, up 4.2% year over year (2026-06-22)
Named risks
  • No new funding or ownership change since the 2021 Bregal Milestone round, raising exit-timeline pressure. Severity: medium
  • AI assistant layer depends entirely on third-party models (OpenAI, Claude) rather than proprietary technology. Severity: high
  • Generalist tools like monday.com, ClickUp, and Asana are adding overlapping PSA and AI features. Severity: high
  • Pricing tier naming shows inconsistency between sources, suggesting an unfinished packaging overhaul. Severity: low
  • No independent verification exists of AI features driving retention or revenue rather than just marketing. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
monday.comlosing tomonday.com published a direct Asana vs Teamwork vs monday comparison, 2026-05-03
ClickUplosing toClickUp Brain and rival AI features ship comparable summarization/drafting capabilities, 2026-06-30
AsanacontestingAsana's own AI features overlap with Teamwork's assistant layer as of mid 2026
RocketlanecontestingNamed PSA-niche rival in Teamwork's own resource-planning content, 2026-06-19
KantatacontestingNamed PSA-niche rival in Teamwork's own resource-planning content, 2026-06-19
ProductivecontestingPSA-focused competitor sharing the same time-to-billing workflow niche as of 2026
Questions people ask
Is Teamwork.com profitable in 2026?
No audited financials are public. Teamwork.com bootstrapped for 14 years with zero outside capital before taking a $70M growth investment from Bregal Milestone in July 2021, its first ever external funding, suggesting it was self-sustaining, but no independent profitability figure has been disclosed since.
Who owns Teamwork.com?
Teamwork.com was founded in October 2007 in Cork, Ireland by Peter Coppinger and Daniel Mackey, who remain operationally involved. Private equity firm Bregal Milestone took a stake via a $70M growth investment in July 2021, the company's first ever outside capital.
Could AI replace Teamwork.com?
Teamwork.com's AI features, TeamworkAI and AI Teammates named Scout and Flo launched March 2026, run on third-party models like OpenAI and Claude via an MCP server added April 2026. Generic drafting and summary functions are replicable, but its integrated time-to-budget-to-invoice billing workflow is harder to replace outright.
Is Teamwork.com laying off employees in 2026?
No layoffs, lawsuits, or regulatory actions involving Teamwork.com were reported as of mid 2026. The company has not disclosed a new funding round or acquisition since its $70M Bregal Milestone investment in July 2021.
Who is Teamwork.com's biggest competitor?
Teamwork.com names Rocketlane, Kantata, and Scoro as direct professional-services-automation rivals in its own June 2026 blog content. Larger generalist tools Asana, monday.com, and ClickUp are also adding client-billing and AI features that overlap with Teamwork.com's product.
When did Teamwork.com last raise money?
Teamwork.com's only outside funding round was $70M from Bregal Milestone in July 2021, its first ever external investment after 14 years fully bootstrapped. No subsequent funding round has been publicly reported as of mid 2026.
Timeline
  • 2026-04Launched MCP server and Claude Cowork integration for external LLM access to project data
  • 2026-03Launched AI Teammates named Scout and Flo for project-health summarization
  • 2025Rolled out TeamworkAI in-product writing assistant
  • 2021-07Raised $70M from Bregal Milestone, first ever external investment
  • 2014Rebranded to Teamwork.com after buying the domain for $675,000
  • 2007-10Founded in Cork, Ireland by Peter Coppinger and Daniel Mackey
Revision history
22 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
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