What is SourceDay?
Founded in 2013, SourceDay provides a specialized cloud-based SaaS platform designed to integrate seamlessly with existing Enterprise Resource Planning (ERP) systems. The core value proposition of the platform lies in its ability to enhance supplier performance, mitigate operational risks, and drive significant cost savings for large-scale organizations. By automating the communication and data exchange between buyers and suppliers, SourceDay addresses the inherent inefficiencies in traditional procurement workflows. The company's market position is defined by its focus on high-impact B2B software solutions that solve the 'last mile' of supply chain visibility, a critical pain point for modern enterprises navigating global logistics challenges.
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 Draper Associates, ATX Seed Ventures, and Silverton Partners
Series A (2018): $6.5M led by Silverton Partners, Draper Associates, and ATX Seed Ventures
Series B (2020): $12.5M supported by Silverton Partners, Draper Associates, and Baird Capital
Series C (2022): $31.6M featuring Silverton Partners, ATX Ventures, Norwest Venture Partners, Draper Associates, Baird Capital, and Ring Ventures
Key Investors in SourceDay
Silverton Partners
A leading early-stage venture capital firm based in Austin, Texas, specializing in companies that leverage technology to create significant barriers to entry.
Draper Associates
A global venture capital firm with over 40 years of experience in funding transformative companies across various sectors, including AI and blockchain.
Baird Capital
A private equity and venture capital firm that invests in founder-led B2B tech and services companies globally, providing operational support to foster growth.
What's next for SourceDay?
With the successful closure of its latest financing, SourceDay is poised to transition from a scaling venture to a dominant force in the supply chain technology sector. The strategic allocation of these funds will likely focus on deepening the platform's integration capabilities, expanding its sales and marketing reach, and potentially exploring new vertical markets that require robust procurement oversight. As the global supply chain remains a focal point for operational resilience, SourceDay's ability to provide real-time, actionable data will be instrumental in maintaining its competitive advantage. Investors are expected to look for continued evidence of market penetration and the successful scaling of the company's customer success infrastructure to support its growing enterprise client base.
See full SourceDay company page
