About Sourcepass
Sourcepass is a company based in New York (United States) founded in 2021 by Bruce Simms, Roli Points, and Chuck Canton.. Sourcepass has raised $135 million across 3 funding rounds from investors including Metropolitan Partners Group and Wedge Venture Partners. Sourcepass has completed 10 acquisitions, including Big Green IT, Bridgepointe Technologies and Infinity Computer Systems. Sourcepass offers products and services including Managed IT Services, Cyber Security Services, Digital Transformation, Procurement Services, and NOC Services. Sourcepass operates in a competitive market with competitors including UST, NTT DATA, Breed Reply, Globant and 1&1 IONOS, among others.
- Headquarter New York, United States
- Founders Bruce Simms, Roli Points, Chuck Canton
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Sectors
Technology
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Phone
*********
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Website
*********
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$135 M (USD)
in 3 rounds
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Latest Funding Round
$65 M (USD), Series C
May 04, 2023
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Investors
Metropolitan Partners Group
& 1 more
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Employee Count
Employee Count
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Investments & Acquisitions
Big Green IT
& 9 more
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Products & Services of Sourcepass
Sourcepass offers a comprehensive portfolio of products and services, including Managed IT Services, Cyber Security Services, Digital Transformation, Procurement Services, and NOC Services. 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.
Comprehensive IT management and support for business operations
Protection against threats and risk management for data safety
Services for cloud migrations and modern workplace enhancements
Assistance with software licensing and hardware acquisition
24x7 network operations center for system oversight
Unlock access to complete
Funding Insights of Sourcepass
Sourcepass has successfully raised a total of $135M across 3 strategic funding rounds. The most recent funding activity was a Series C round of $65 million completed in May 2023. 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 3
- Last Round Series C — $65.0M
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First Round
First Round
(05 Mar 2022)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2023 | Amount | Series C - Sourcepass | Valuation | Metropolitan Partners Group |
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| Mar, 2022 | Amount | Series C - Sourcepass | Valuation | Metropolitan Partners Group , Wedge Venture Partners |
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| Mar, 2022 | Amount | Debt – Conventional - Sourcepass | Valuation |
investors |
| 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 Sourcepass
Sourcepass has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Metropolitan Partners Group and Wedge 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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US private equity investments are managed by Metropolitan Partners Group.
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Founded Year | Domain | Location | |
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Venture investments are facilitated by Wedge Venture Partners.
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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 Sourcepass
Sourcepass has strategically engaged in corporate development activities, having acquired 10 companies. Notable acquisitions include Big Green IT, Bridgepointe Technologies and Infinity Computer Systems. 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
|
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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Provider of cloud services
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2012 | ||||
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Data center, cybersecurity, and managed IT services are provided.
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2002 | ||||
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Managed IT services and solutions are provided by machineLOGIC.
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2001 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
|
2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Sourcepass
| 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 |
Sourcepass Comparisons
Competitors of Sourcepass
Sourcepass 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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| domain | founded_year | HQ Location |
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 |
|---|---|---|---|---|
| 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 Sourcepass
Frequently Asked Questions about Sourcepass
When was Sourcepass founded?
Sourcepass was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Where is Sourcepass located?
Sourcepass is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Sourcepass?
Chuck Canton is the current CEO of Sourcepass. They have also founded this company.
Is Sourcepass a funded company?
Sourcepass is a funded company, having raised a total of $135M across 3 funding rounds to date. The company's 1st funding round was a Series C of $70M, raised on Mar 05, 2022.
What does Sourcepass do?
Sourcepass was founded in 2021 in New York, United States, within the IT sector. Managed IT services and support are delivered by the company to businesses. Operations are based in the United States, focusing on technology infrastructure and solutions. Co-founders Bruce Simms and Roli Points are joined by Chuck Canton, who serves as CEO. The firm handles client IT needs in a regional context.
Who are the top competitors of Sourcepass?
Sourcepass's top competitors include Happiest Minds, 1&1 IONOS and Genpact.
What products or services does Sourcepass offer?
Sourcepass offers Managed IT Services, Cyber Security Services, Digital Transformation, Procurement Services, and NOC Services.
How many acquisitions has Sourcepass made?
Sourcepass has made 10 acquisitions, including Big Green IT, Bridgepointe Technologies, and Infinity Computer Systems.
Who are Sourcepass's investors?
Sourcepass has 2 investors. Key investors include Metropolitan Partners Group, and Wedge Venture Partners.