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SourceDay raises $6.5M in Series A financing led by Silverton

SourceDay, a firm that develops applications for procurement and purchase order management, has raised $6.5 million in Series A financing from Silverton Partners, Draper Associates and ATX Seed Ventures.

The investment, according to a press release, will be used to expand the Austin, Texas-based company's sales and marketing efforts and develop new products. The investment brings the company's total fundraising to $10.8 million.

In December 2017 the company launched what it said was the industry's first native mobile app to let companies manage procurement from their smartphones.