Peter Coppinger, co-founder and CEO of Teamwork.

“Not the time for venture capital”: Teamwork rules out raising VC money as tech valuations fall

One of Ireland’s fastest growing tech companies, Teamwork laid off 21 staff recently. However, its co-founder Peter Coppinger says the Cork company remains ambitious for growth.

22nd May, 2020 - 3 min read

It is one of Ireland’s fastest growing indigenous technology businesses, generating revenues of around $30 million last year. After winning business gongs and earning plaudits for bootstrapping its business from scratch, Teamwork, a Cork-based project management and business efficiency product developer, was hotly tipped to be raising tens of millions of dollars in venture capital. 

Now, however, company co-founder Peter Coppinger has told The Currency that this is off the table as tech valuations weaken in the face of the unprecedented Covid-19 crisis.

“Like lots of companies we have decided we are going to hold off raising...

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