Soource
Soource empowers companies to manage and find the best suppliers globally through AI algorithms, reducing negotiation time and price dependence.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | €1.5m | Seed | |
| Total Funding | 000k | ||
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Soource.com is a cutting-edge startup specializing in procurement and sourcing solutions for businesses. The company leverages advanced technology, including artificial intelligence (AI), to streamline and optimize the sourcing and negotiation processes for procurement managers. By automating interactions and negotiations with thousands of suppliers worldwide, Soource ensures that businesses can identify the best market solutions for their needs efficiently and cost-effectively.
Soource primarily serves procurement managers and businesses across various industries who are looking to save time and money on their sourcing activities. The company operates in the global procurement market, which involves the acquisition of goods and services from external sources. Soource's business model is based on providing a platform that compares thousands of offers from an extensive network of suppliers. This platform allows procurement managers to easily compare and rank offers based on various criteria, ensuring they consistently find the best solutions available.
The company makes money by charging businesses for access to its AI-driven platform and services. This includes subscription fees, transaction fees, or a combination of both, depending on the specific needs and scale of the client. By offering a comprehensive and automated solution, Soource helps businesses focus on their core strategies and achieve exceptional results without getting bogged down in the complexities of supplier negotiations.
Founded in 2020 as an offshoot of Functional, a leading disposable device distribution company, Soource has quickly gained traction. In just three years, it has managed thousands of international suppliers and earned the trust of over 2,000 companies. The platform has facilitated supplier transactions worth millions, empowering over 340 companies across various industries.
Keywords: AI-driven procurement, supplier negotiation, sourcing optimization, procurement platform, global suppliers, cost-effective sourcing, automated negotiation, procurement managers, business efficiency, supplier comparison.