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Sourceday Closes $31.5 Million Series C Funding Following Record-Breaking Year Of Customer Growth

Feb 15, 2022•over 3 years ago

Amount Raised

$31.5 Million

Round Type

series c

Austin

Description

SourceDay, a leading supply chain procurement collaboration engine for direct spend materials and one of Austin’s fastest-growing companies, today announced it closed a $31.5 million Series C round of funding. The round, led by Norwest Venture Partners with participation from existing investors ATX Ventures, Baird Capital, Draper Associates, Ring Ventures and Silverton Partners, comes at a critical time for manufacturers, distributors, consumer packaged goods brands and retailers as they are challenged with continued supply chain disruptions and first-mile issues accelerated by the pandemic.

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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