Private Equity firm Baird Capital has invested in SourceDay, a supplier collaboration engine of the direct spend industry, based in Austin, Texas.
SourceDay, a SaaS solution, is used by global manufacturers, distributors and suppliers to manage supply chains, centralize order data, and drive their businesses forward.
Tom Kieley, CEO of SourceDay, said: “The COVID-19 pandemic is exposing the ways that outdated supply chain practices make manufacturers vulnerable. I’m excited to add Baird Capital to our team of investors. Baird’s experience with leading SaaS companies and its relationships across the manufacturing sector will help SourceDay achieve our mission to make companies less vulnerable to current supply chain disruptions and to all kinds of shifts in demand.”
Joanna Arras, Principal at Baird Capital and SourceDay’s newest board member, added: "As businesses face unprecedented times, they are seeking faster answers to bigger challenges. More than ever, companies need resilient and agile supply chains. Poor supply chain visibility and inefficient collaboration will be crippling during this time of rapidly shifting demand. Baird Capital is proud to invest in SourceDay to help companies face these challenges head-on."
