Sourcemap, a New York-based supply chain mapping and monitoring software provider, raised $20 million in a Series B funding round led by Energize Ventures, with participation from the E14 Fund.
The funding will support the company's global expansion efforts and the development of new solutions for its supply chain mapping and monitoring software suite.
Sourcemap offers an enterprise solution that covers end-to-end supply chain due diligence requirements, including mapping, traceability, risk monitoring, business continuity planning, and transparency.
"We are thrilled by the confidence our investors have shown by doubling down on Sourcemap and on supply chain transparency as a solution to the biggest challenges facing industry," said Leonardo Bonanni, founder and CEO of Sourcemap." Once a nice-to-have, businesses today cannot afford to go to market without full end-to-end supply chain visibility.It's a must-have for ensuring strategic supplies of raw materials, for preventing disruptions, for ensuring compliance and for de-risking brands. Our goal is to enable businesses across industries to map their end-to-end supply chains as fast as possible to strengthen the global economy in this era of responsible sourcing."
Company: Sourcemap Inc.
Raised: $20.0M
Round: Series B
Funding Month: June 2023
Lead Investors: Energize Ventures
Additional Investors: E14 Fund
Company Website: https://sourcemap.com/
Software Category: Supply Chain Mapping and Monitoring Software
About the Company: Sourcemap is a global provider of supply chain mapping and monitoring technology. The company's software solutions help companies visualize their supply chains, discover indirect suppliers, measure risk, manage continuous improvement, track and trace individual products, and publish their supply chains online. Major traders, manufacturers, and brands have adopted Sourcemap's full-suite solution for assurance on the raw materials-to-finished goods supply chain, including ongoing monitoring for production, quality, sustainability, and risks such as deforestation and forced labor. Sourcemap now has over two million businesses registered on its platform, and over 250 brands use Sourcemap to map and monitor their supply chains.
Source: https://www.prnewswire.com/news-releases/sourcemap-raises-20m-series-b-to-launch-real-time-supply-chain-mapping-and-monitoring-software-301842718.html