BIRMINGHAM, Ala., Sept. 05, 2019 (GLOBE NEWSWIRE) — Alabama Futures Fund (“AFF”) recently placed an investment in TeamingPro, Inc. (“TeamingPro”). Based in Chesapeake, VA, TeamingPro has built a Software as a Service (“SaaS”) platform for the $560 billion federal contracting industry that allows companies to source new contract opportunities as well as “team” with other contractors to jointly compete for larger contracts. TeamingPro is relocating its headquarters from Chesapeake, VA to Huntsville, AL.
TeamingPro was founded in October 2017 in Chesapeake, VA by Tim Hagerty to address the incredibly fragmented and complex government contracting space. Today, companies rely on a myriad of different government-run platforms to source and bid on available contracts. Existing systems can be slow, provide little to no business intelligence and operate more like job boards than intelligent sourcing software.
Many government contracts require that prospective contractors team with multiple service partners before submitting a bid. This requirement creates a problem of finding qualified and professional teams with whom to partner. TeamingPro’s technology mines the various government databases and aggregates that information into a proprietary score for each contractor. Contractors using TeamingPro are able to quickly see the TeamingPro score for a particular contractor and then make an informed decision about whether or not to partner with that contractor on a particular project bid. TeamingPro allows contractors of all sizes to compete for more contracts and to use this unique technology to grow their business opportunities.
Tim Hagerty, President and CEO of TeamingPro, said, “We are quite impressed with the dynamic team at the Alabama Futures Fund, who bring not only exceptional investment capabilities but also strategic business acumen. We expect the combination of our partnership with the Alabama Futures Fund and our move to Huntsville, Alabama, an important federal contracting hub, to put us in a position to grow TeamingPro exponentially.”
Mickey Millsap, Partner at Redhawk Advisory, serving as the Investment Manager for AFF, said, ”TeamingPro is one of those companies focusing on a market left behind the technology curve. Their platform will significantly improve the efficiency and outcomes for contractors navigating the complex and competitive government contracting landscape.”
About Alabama Futures Fund, LP
AFF seeks to make seed and early-stage investments in Alabama-based operating companies and companies that are willing to relocate their headquarters and principal business operations to Alabama. AFF will target portfolio investments that demonstrate high growth potential, are led by coachable and adaptable founding teams and are focused on large total addressable markets. Additional information about AFF can be found at www.alabamafuturesfund.com.
About Redhawk Advisory
Redhawk Advisory (“Redhawk”) is a registered Investment Advisor with offices in Birmingham. Founded in 2018 by Matt Hottle and Mickey Millsap, Redhawk focuses on identifying investments in early-stage startups with high growth potential across a broad range of industries. For more information, please visit www.RedhawkAdvisory.com.
