Source, a Portland, OR-based B2B marketplace for commercial construction products, closed on $8.5M Series A funding round.
The round was led by M13, with participation from Rise of the Rest, Rogue Venture Partners, Founders’ Co-op and Oregon Venture Fund.
The company, which had previously raised a total of $3.7M, intends to use the funds to expand nationally, increase its headcount and invest in technology advancements.
Founded in 2019 by Nicole Schmidt, CEO, Source digitizes and streamlines commercial real estate projects through a single cloud-based platform to support the budgeting, product and material selection and purchasing of projects. It enables verified architects and designers to browse products, save material selections into projects, order samples directly from representatives, and export product information into spreadsheets.
Recent client projects include purchasing for Hilton, IHG and Marriott branded properties.
Source Raises $8.5M in Series A Funding. Best wishes to everyone in the group. This will be a huge accomplishment for them in the future.
Shishir Gupta, The Founder & CEO of StartupLanes
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