SourceDay, an Austin, Texas-based provider of purchase order management automation software, raised $3.5m in seed funding.
The round was led by Draper Associates, with participation from Silverton Partners and ATX Seed Ventures.
The company intends to use the funds to hire product development and additional sales professionals.
Led by Tom Kieley, CEO and co-founder, and Clint McRee, COO and co-founder, SourceDay provides a Software as a Service (SaaS) solution that automates purchase order management processes by integrating with Enterprise Resource Planning (ERP) systems. The company extends ERP purchasing capabilities by centralizing and managing the PO lifecycle for buyers and suppliers, eliminating manual processes while improving supplier performance.