About SourceDay
SourceDay is a company based in Austin (United States) founded in 2013 by Clint McRee.. SourceDay has raised $58.75 million across 6 funding rounds from investors including Coupa, Norwest Venture Partners and ATX Venture Partners. SourceDay offers products and services including SourceDay Intelligence, PO Collaboration, and RFQ Platform. SourceDay operates in a competitive market with competitors including Coupa, Sage Group, Tipalti, Emburse and Airbase, among others.
- Headquarter Austin, United States
- Founders Clint McRee
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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 Sourceday, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$58.75 M (USD)
in 6 rounds
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Latest Funding Round
$34.66 M (USD), Series C
Feb 15, 2022
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Investors
Coupa
& 6 more
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Employee Count
Employee Count
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Products & Services of SourceDay
SourceDay offers a comprehensive portfolio of products and services, including SourceDay Intelligence, PO Collaboration, and RFQ Platform. 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.
AI tool for predicting and resolving supply chain risks
Platform for managing purchase orders and supplier engagement
System to accelerate supplier quoting and procurement processes
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Funding Insights of SourceDay
SourceDay has successfully raised a total of $58.75M across 6 strategic funding rounds. The most recent funding activity was a Series C round of $34.66 million completed in February 2022. 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 6
- Last Round Series C — $34.7M
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First Round
First Round
(01 Jun 2015)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb, 2022 | Amount | Series C - SourceDay | Valuation | Norwest Venture Partners | |
| Jun, 2021 | Amount | Series B - SourceDay | Valuation | Coupa |
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| Apr, 2020 | Amount | Series B - SourceDay | Valuation | Baird Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| 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 |
investors |
Investors in SourceDay
SourceDay has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Coupa, Norwest Venture Partners and ATX Venture Partners. 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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Venture capital and growth equity firm providing investments and resources to entrepreneurs in various sectors.
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Founded Year | Domain | Location | |
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Early-stage venture capital investments are made by ATX Venture Partners.
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Founded Year | Domain | Location | |
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Global private equity and venture capital investments in B2B Tech & Services companies.
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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 SourceDay
| 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 |
Financial Statements - SourceDay
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| 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 |
investors |
Sourceday Comparisons
Competitors of SourceDay
SourceDay 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 Coupa, Sage Group, Tipalti, Emburse and Airbase, 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 |
Cloud-based end-to-end spend management software is delivered for businesses.
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| domain | founded_year | HQ Location |
Cloud-based accounting and payroll solutions for small and medium businesses
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| domain | founded_year | HQ Location |
Cloud-based procurement and invoice management solutions are offered to businesses.
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| domain | founded_year | HQ Location |
Corporate cards and expense management are offered to businesses.
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| domain | founded_year | HQ Location |
Procure-to-pay management software is offered for business operations.
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| domain | founded_year | HQ Location |
Platform offering AI-powered vendor digitization, procurement and supply chain financing solutions
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
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 Sourceday
Frequently Asked Questions about SourceDay
When was SourceDay founded?
SourceDay was founded in 2013 and raised its 1st funding round 2 years after it was founded.
Where is SourceDay located?
SourceDay is headquartered in Austin, United States. It is registered at Austin, Texas, United States.
Is SourceDay a funded company?
SourceDay is a funded company, having raised a total of $58.75M across 6 funding rounds to date. The company's 1st funding round was a Series B of $12.5M, raised on Jun 01, 2015.
What does SourceDay do?
SourceDay was founded in 2013 in Austin, United States, within the supply chain management sector. A cloud-based ERP portal is operated to handle supplier interactions for businesses. Automation is applied to new purchase orders, exceptions, and overdue orders. Services encompass purchase order lifecycle management, risk assessment, and automated ordering systems, alongside integration with existing ERP platforms. Operations focus on streamlining procurement processes geographically centered in the U.S.
Who are the top competitors of SourceDay?
SourceDay's top competitors include Coupa, Sage Group and Airbase.
What products or services does SourceDay offer?
SourceDay offers SourceDay Intelligence, PO Collaboration, and RFQ Platform.
Who are SourceDay's investors?
SourceDay has 7 investors. Key investors include Coupa, Norwest Venture Partners, ATX Venture Partners, Baird Capital, and Draper Associates.
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