About Sourced Group
Sourced Group is a company based in Toronto (Canada) founded in 2010 by Jonathan Spinks was acquired by Amdocs in May 2021.. Sourced Group has raised $17.09 million across 2 funding rounds from investors including HSBC, Comerica and Amdocs. The company has 219 employees as of December 31, 2024. Sourced Group has completed 1 acquisition, including DevOpsGroup. Sourced Group offers products and services including Cloud Migration Services, Application Modernisation, Data Security, and Governance and Compliance. Sourced Group operates in a competitive market with competitors including UST, NTT DATA, Breed Reply, Globant and 1&1 IONOS, among others.
- Headquarter Toronto, Canada
- Employees 219 as on 31 Dec, 2024
- Founders Jonathan Spinks
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Sourced Group Inc
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Products & Services of Sourced Group
Sourced Group offers a comprehensive portfolio of products and services, including Cloud Migration Services, Application Modernisation, Data Security, and Governance and Compliance. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Services for migrating enterprise IT systems to cloud platforms securely.
Updating applications for cloud environments and scalability.
Solutions for protecting data during cloud transitions and operations.
Advisory for regulatory compliance in cloud infrastructure management.
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Funding Insights of Sourced Group
Sourced Group has successfully raised a total of $17.09M across 2 strategic funding rounds. The most recent funding activity was a Series A round of $1.9 million completed in October 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series A — $1.9M
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First Round
First Round
(10 Sep 2019)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Oct, 2020 | Amount | Series A - Sourced Group | Valuation | Round13 |
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| Sep, 2019 | Amount | Series A - Sourced Group | Valuation | Round13 |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Investors in Sourced Group
Sourced Group has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include HSBC, Comerica and Amdocs. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Round13 Capital is engaged in venture capital investments across Canada.
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Founded Year | Domain | Location | |
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Commercial banking services are provided to businesses and individuals.
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Founded Year | Domain | Location | |
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Universal banking and financial advisory services are provided globally.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Sourced Group
Sourced Group has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include DevOpsGroup. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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DevOps support services including transformation and platform engineering are offered.
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2013 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Sourced Group
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Sourced Group Comparisons
Competitors of Sourced Group
Sourced Group operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as UST, NTT DATA, Breed Reply, Globant and 1&1 IONOS, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
High-quality office furniture is provided by UST for various needs.
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| domain | founded_year | HQ Location |
Application development, cloud, cybersecurity, and business intelligence services are provided.
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AI, cloud, and blockchain services are provided globally.
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| domain | founded_year | HQ Location |
IT and digital transformation services are delivered to various industries.
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| domain | founded_year | HQ Location |
Cloud infrastructure and hosting services are provided by 1&1 IONOS.
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| domain | founded_year | HQ Location |
Provider of end-to-end business process outsourcing services
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| Company Name | Domain | Founded year | HQ Location | Description |
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Multiple services are booked via an app-based platform.
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On-demand services are booked through an app-based platform.
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App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Sourced Group
Frequently Asked Questions about Sourced Group
When was Sourced Group founded?
Sourced Group was founded in 2010 and raised its 1st funding round 9 years after it was founded.
Where is Sourced Group located?
Sourced Group is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Who is the current CEO of Sourced Group?
Jonathan Spinks is the current CEO of Sourced Group. They have also founded this company.
Is Sourced Group a funded company?
Sourced Group is a funded company, having raised a total of $17.09M across 2 funding rounds to date. The company's 1st funding round was a Series A of $15.19M, raised on Sep 10, 2019.
How many employees does Sourced Group have?
As of Dec 31, 2024, the latest employee count at Sourced Group is 219.
What does Sourced Group do?
Sourced Group was established in 2010 in Toronto, Canada, by Jonathan Spinks as founder and CEO. Operations center on delivering a range of IT services within the technology sector. The company maintains its headquarters in Toronto, supporting various IT solutions for clients. Focus is placed on core IT functionalities, with services extending to related support areas across the region.
Who are the top competitors of Sourced Group?
Sourced Group's top competitors include Happiest Minds, 1&1 IONOS and Genpact.
What products or services does Sourced Group offer?
Sourced Group offers Cloud Migration Services, Application Modernisation, Data Security, and Governance and Compliance.
How many acquisitions has Sourced Group made?
Sourced Group has made 1 acquisition, including DevOpsGroup.
Who are Sourced Group's investors?
Sourced Group has 4 investors. Key investors include HSBC, Comerica, Amdocs, and Round13 Capital.
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