LiveSource, a cloud-based supplier management software provider that allows manufacturers to gain greater visibility into their supplier’s health, performance and ability to deliver, has raised a $7.4 million growth equity round.
The company, which is headquartered in Atlanta, Georgia will use the capital for enhanced product offerings and expansion of the sales team. The funding was led by Fulcrum Equity Partners with participation from IDEA Fund Partners, Alerion Ventures, Knoll Ventures, Service Provider Capital, and Tamiami Angel Funds, as well as a group of industry-experienced individual investors that include Richard Haddrill, former CEO of Manhattan Associates, and Pervinder Johar, former VP of Supply Chain of HP who will be joining the Board of Directors.
“Given the ever-increasing focus on quality, compliance, and efficiencies, manufacturers require enhanced visibility and collaboration within their complex supply chains,” said Frank X. Dalton, Partner of Fulcrum Equity Partners. “The demand for the product is increasing and the management team is strong, so now is the right time to amplify the efforts around LiveSource.”
With LiveSource, manufacturers such as Dana Incorporated, Plastic Omnium Auto Inergy, and Safran, gain greater visibility across their entire supplier network, so they can plan more effectively and be able to respond to changes quickly. LiveSource does this by collecting and normalizing data from disparate systems (such as ERP, sourcing, engineering, tooling, and quality systems) and providing an easy, seamless way to share data across disciplines.
“This is a significant milestone and we are excited to deliver transformative technology to the manufacturing industry through our platform,” said Bo Hagler, CEO of LiveSource. “Our team is very proud of our accomplishments and looks forward to continuing to help our customers strengthen their business by providing the tools to lower their cost of goods sold and reduce risk.”
LiveSource’s cloud-based supplier collaboration suite specializes in strategic sourcing and supplier performance management, as well as the facilitation of all supplier interactions up and down the supply chain. LiveSource focuses on global manufacturers in highly regulated and complex manufacturing industries and a majority of its revenue is derived from the automotive and aerospace industries.
For more information about LiveSource and the company’s services, visit www.LiveSource.com
About Fulcrum Equity Partners
Fulcrum Equity Partners is an Atlanta-based growth equity firm focused on providing expansion capital to rapidly growing companies. Fulcrum targets companies that are looking to raise $5 million – $20 million and will consider $3 million – $4 million initial investments in companies that expect to raise additional capital over time. Fulcrum will consider investments in a wide variety of industries with an emphasis on information technology, healthcare, and technology enabled operating companies. Fulcrum provides financing to meet a wide range of needs including internal growth initiatives, acquisitions, divestitures, shareholder liquidity, and recapitalizations. The partners have over 125 years of relevant experience, including operations, venture capital, mezzanine financing, accounting, law, investment banking, and strategy consulting.
For more information about Fulcrum Equity Partners, visit www.fulcrumep.com
Director of Marketing, LiveSource