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SourceDay Closes $12.5 Million Series B Funding Round Following Record-Breaking Year

Apr 08, 2020•over 5 years ago

Amount Raised

$12 Million

Round Type

series b

Austin

Description

SourceDay, a leading supplier collaboration engine of the direct spend industry, and one of Austin’s fastest-growing companies, today announced it has closed a $12.5 million Series B round of funding. The investment, led by Baird Capital with participation from existing investors Silverton Partners, ATX Ventures and Draper Associates, comes at a time when manufacturers and distributors will depend on supply chain software and innovation more than ever as they are faced with impacts of COVID-19.

Company Information

Company

Source Day

Location

Austin, Texas, United States

About

Today more than ever, supply chains are broken, unstable and disrupting organizations throughout the world. SourceDay helps small to large organizations solve their complex supply chain challenges in manufacturing, distribution and consumer product goods. SourceDay provides unique collaboration software that bridges the legacy gap between suppliers and the ERP by automating purchase order (PO) changes throughout the entire direct spend lifecycle. With SourceDay’s suite of collaborative products, procurement teams can trace a single part from PO issuance to acknowledgment and final delivery, giving organizations unprecedented visibility into the first mile of their supply chain. To transform your PO management, visit www.sourceday.com and follow us on LinkedIn here.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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