SourceDay, a supply chain procurement collaboration engine for direct spend materials and one of Austin’s fastest-growing companies, has closed a USD31.5 million Series C round of funding.
The round was led by Norwest Venture Partners with participation from existing investors ATX Ventures, Baird Capital, Draper Associates, Ring Ventures and Silverton Partners.
SourceDay will use its Series C funds to accelerate its recruiting efforts, reinforce the company’s sales, channel and marketing engines, and maintain its continued investment in operations and customer success from 2021. The company plans to double its product and engineering teams and bring on a product leader to its executive team.
In addition to leading this round, Norwest partner Sean Jacobsohn will take a seat on SourceDay’s board of directors.