What is Sourcemap?
Sourcemap, which originated from MIT research in 2011, offers a comprehensive suite of software solutions designed to enhance supply chain transparency and traceability. Its platform is adopted by major traders, manufacturers, and brands to ensure accountability from raw material sourcing to finished goods. The software facilitates ongoing monitoring for production quality, sustainability initiatives, and risk assessment, including critical areas like deforestation and forced labor, positioning Sourcemap as a leader in ethical and sustainable supply chain management.
How much funding has Sourcemap raised?
Sourcemap has raised a total of $10.4M across 3 funding rounds:
Debt
$150K
Debt
$203K
Series A
$10M
Debt (2020): $150K with participation from PPP
Debt (2021): $203K led by PPP
Series A (2022): $10M supported by Energize Ventures and E14 Fund
Key Investors in Sourcemap
Energize Ventures
Energize Capital is an investor focused on climate solutions, aiming to scale sustainable innovations through partnerships with those shaping the future of energy. The firm specializes in investing in asset-light, technology-enabled companies that are pivotal in transitioning to a digitized and decarbonized energy system.
E14 Fund
E14 Fund is a venture capital firm affiliated with MIT that invests in early-stage companies founded by MIT alumni, faculty, and students. The firm supports entrepreneurs by providing capital and resources to help them build innovative solutions.
What's next for Sourcemap?
With the recent major strategic investment and substantial enterprise-level funding, Sourcemap is poised for significant expansion. This capital injection will likely fuel further development of its traceability platform, enhance its market reach, and bolster its capabilities in addressing complex sustainability and risk management challenges for its clients. The company's focus on critical supply chain issues suggests a strategic direction towards solidifying its position as an indispensable partner for businesses committed to transparency and ethical sourcing.
See full Sourcemap company page
