What is SourceDay?
SourceDay operates as a critical software layer that integrates directly with existing Enterprise Resource Planning (ERP) systems. By automating the communication between buyers and suppliers, the platform enhances operational transparency and reduces the inherent risks associated with manual procurement processes. Positioned at the intersection of B2B software and supply chain resilience, SourceDay provides a scalable solution for organizations aiming to optimize their vendor performance and achieve significant cost efficiencies in an increasingly volatile global market.
How much funding has SourceDay raised?
SourceDay has raised a total of $54.1M across 4 funding rounds:
Angel/Seed
$3.5M
Series A
$6.5M
Series B
$12.5M
Series C
$31.6M
Angel/Seed (2017): $3.5M with participation from ATX Seed Ventures, Silverton Partners, and Draper Associates
Series A (2018): $6.5M led by ATX Seed Ventures, Silverton Partners, and Draper Associates
Series B (2020): $12.5M supported by Silverton Partners, Baird Capital, and Draper Associates
Series C (2022): $31.6M featuring Ring Ventures, Baird Capital, Norwest Venture Partners, Silverton Partners, Draper Associates, and ATX Ventures
Key Investors in SourceDay
Silverton Partners
A prominent Austin-based venture capital firm that specializes in early-stage technology investments, known for its active support of companies that build significant competitive moats.
Draper Associates
A global venture capital firm with a long history of backing transformative, high-growth companies across diverse sectors including AI and enterprise software.
Baird Capital
A global private equity and venture capital firm that focuses on founder-led B2B technology companies, providing both capital and operational expertise to facilitate scaling.
What's next for SourceDay?
Following its latest major strategic investment, SourceDay is well-positioned to accelerate its product roadmap and expand its market footprint. The company is expected to leverage this capital to deepen its ERP integration capabilities and enhance its predictive analytics suite, further solidifying its role as an essential utility for modern enterprise procurement. As supply chain visibility remains a top priority for global corporations, SourceDay's focus on digitizing the supplier-buyer relationship places it in a prime position to capture additional market share and drive long-term value for its stakeholders.
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