Press release

SourceDay Snags Spredfast Executive and Channel Development Veteran Amid Rapid Growth

Sponsored by Businesswire

the leading supply chain automation SaaS solution, today announced it
added two seasoned executives to its leadership team. Spredfast veteran
Sarah Moore joined the company as its new Chief Marketing Officer (CMO),
and former NSS Labs and Ping Identity executive Emeka Obianwu, filled
the SVP, Alliances and Channel role. Moore and Obianwu joined SourceDay
to help accelerate the company’s rapid growth.

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Sarah Moore, CMO, SourceDay

Sarah Moore, CMO, SourceDay

SourceDay secured $6.5 million in Series A funding late last year to
continue growing its customer base and to bring new products to market.
In addition to expanding the leadership team, SourceDay grew its annual
recurring revenue more than 125% over the prior year and maintains a
customer renewal rate of more than 95%. This demonstrates the value
SourceDay customers recognize in the platform and clearly establishes
the company as a leading technology partner to the $8 trillion US
manufacturing and distribution industry.

SourceDay’s success can be attributed to the unique way it resolves
supply chain challenges that others have been unable to address. The
first mile in every manufacturer’s supply chain is riddled with waste
and inefficiency, eroding margins and reducing on-time deliveries. These
problems originate externally but affect every functional
area—procurement, IT, finance, sales and customer service. That’s why a
growing number of manufacturers leverage SourceDay in their digital
transformation to improve supplier relationships.

“Attracting seasoned leaders like Sarah and Emeka is an important
milestone for us as we prepare for next-level growth,” said Tom Kieley,
CEO, SourceDay. “Sarah’s unique experience driving high-growth companies
will be instrumental as we extend the reach of SourceDay’s brand, and
Emeka’s proven track record developing alliance relationships will help
us build a world-class partner program.”

“This kind of opportunity doesn’t come along every day,” said Moore. “We
have the rare combination of proven product-market fit, customers who
love our product and renew at crazy-high rates, founders who lead with
integrity and commitment, and world-class investors who are ready to
pave our way to continued growth. I’m thrilled to be building the next
big, Austin-born, SaaS brand.”

“Since inception, SourceDay has collaborated with complementary
technology and consulting companies.” added Obianwu. “But the next phase
opens up a much bigger opportunity for SourceDay’s partners to
participate in a paradigm shift whereby manufacturers will fundamentally
change the way they engage the supply chain. I’m excited to help build
out a community of partners that will deliver the right combination of
technology and advisory services to fulfill the promise of supply chain
digital transformation.”

As CMO Moore will lead SourceDay’s global brand, product, digital and
performance marketing programs. She is a 23-year veteran of the Austin
tech community, where she most recently served as Vice President of
Brand and Revenue Marketing for Spredfast. Prior to her six-year tenure
at Spredfast, Moore led go-to-market teams at Socialware, Lombardi
Software, and several others.

As Senior Vice President of Alliances & Channel, Emeka Obianwu will be
responsible for the strategy and management of SourceDay’s technology
and consulting partner ecosystem. For more than ten years, Emeka has led
sales, channel and corporate development functions at leading software
and consulting services organizations including NSS Labs, Ping Identity,
BuildForge, IBM and more.

About SourceDay

SourceDay is how manufacturers and distributors trust their supply
chain. SourceDay’s SaaS solution automates purchase order (PO), request
for quote (RFQ) and accounts payable (AP) management to remove costly
waste and errors from global supply chains. By freeing manufacturers,
distributors and suppliers from unorganized email threads, sticky notes
and cumbersome spreadsheets, SourceDay dramatically improves a
customer’s ability to maximize margin and meet their customer
commitments on time. By seamlessly integrating with all major Enterprise
Resource Planning (ERP) systems, SourceDay extends ERP purchasing
capabilities and ultimately improves supplier performance. Since 2013,
SourceDay has helped more than 100 manufacturing customers process more
than 1 billion POs with a daily average spend of $1 million.