LiveSource, an Atlanta, GA-based cloud supplier management software provider that allows manufacturers to gain visibility into their supplier’s health, performance and ability to deliver, raised $7.4m in growth equity funding.
The round was led by Fulcrum Equity Partners with participation from IDEA Fund Partners, Alerion Ventures, Knoll Ventures, and Tamiami Angel Funds, as well as a group of individual investors including 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.
The company intends to use the funds for enhanced product offerings and expansion of the sales team.
Led by Bo Hagler, CEO, LiveSource provides a cloud-based supplier collaboration suite that specializes in strategic sourcing and supplier performance management, as well as the facilitation of all supplier interactions up and down the supply chain.
It collects and normalizes data from disparate systems (such as ERP, sourcing, engineering, tooling, and quality systems) to provide a way to share data across disciplines.
The platform 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.
Users include such manufacturers as Dana Incorporated, Plastic Omnium Auto Inergy, and Safran.