Sourcery, a San Francisco, CA-based digital payments and commerce platform focusing on accounts payable within the food and hospitality industry, completed a $5m venture capital funding round.
The round, which brought total funding to $7.5m, was led by Marker with participation from Steadfast Capital and existing investors. In conjunction with the funding, Yuval Shachar, Partner at Marker LLC, will join Sourcery’s board.
The company intends to use the funds to expand its core digital invoice and payments processing technologies, adding accounts receivable capabilities for vendors who receive payments through the platform to build enterprise-level features designed to support large chain restaurants and retailers.
Co-founded in 2012 by CEO Na’ama Moran and Peretz Partensky, a PhD in Biophysics from University of California, San Francisco, Sourcery provides restaurants, commercial kitchens, food retailers and other hospitality-industry businesses with a SaaS-based platform that provides an interface for digital invoicing and payments, including an advanced dashboard for real-time spend monitoring and cash flow management.
The company serves Snap Kitchen, Elephants Deli, The Absinthe Group, Au Bon Repas and the corporate kitchens at Thumbtack, Dropbox and Airbnb.