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Latham & Watkins Advises SourceDay in US$31.5 Million Series C Financing

February 23, 2022
An Austin-based team represents the company in the funding round.

SourceDay, a leading supply chain procurement collaboration engine for direct spend materials and one of Austin’s fastest-growing companies, has announced it closed a US$31.5 million Series C round of funding. The round, led by Norwest Venture Partners with participation from existing investors ATX Ventures, Baird Capital, Draper Associates, Ring Ventures, and Silverton Partners, comes at a critical time for manufacturers, distributors, consumer packaged goods brands, and retailers as they are challenged with continued supply chain disruptions and first-mile issues accelerated by the pandemic.

“This team has been our trusted partner for years, consistently bringing an invaluable depth of knowledge and high level of client service,” said Tom Kieley, CEO and co-founder of SourceDay. “For this transaction, we were operating under a condensed timeline and Latham was critical in helping us get across the finish line with a great result.”

Latham & Watkins LLP represents SourceDay in the transaction with an Austin-based team led by partner Samer Zabaneh, with associate Dustin Davis.