Source Intelligence raises $17.5m growth capital

Provider of supply chain compliance solutions wins backing of Kanye Partners.

Source Intelligence (SI), the global leader for supply chain compliance solutions, announced today that it has received a $17.5 million investment by Kayne Partners to fund ongoing growth of its network and to meet increased demand for its technologically advanced information platform.

Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P., a Los Angeles-based alternative investment firm managing more than $22 billion in assets. Piper Jaffray & Co. acted as exclusive financial advisor and placement agent for Source Intelligence.

Source Intelligence’s platform has hundreds of thousands of users, including many Fortune 500 customers globally. The service helps companies meet increasingly strict regulations regarding conflict minerals, restricted (chemical) substances, and other sustainability and environmental issues.

>See also: Pushdoctor.co.uk raises $8.2m in Series A funding round

The company has built one of the world’s largest supplier networks, expediting the exchange and validation of compliance information.

“The explosive number of global brands subscribing to SI’s platform is triggering significant expansion in the solutions we offer and a demonstrated need to expand our capacity,” said Jess Kraus, CEO at Source Intelligence.

“SI is honored to secure the trust of Kayne Partners who share our vision for sustained growth and our global solution to make the world a better place.”

“Kayne Partners seeks opportunities to invest in companies with demonstrated success, the right metrics for expansion and a strong management team. Source Intelligence has positioned itself for long-term growth by providing a massive user network and must-have solution for some of the world’s biggest enterprises,” added David Walsh, Managing Partner, Kayne Partners.

“Companies are facing increasing supply chain regulation as well as investor and consumer demands to be more socially and environmentally responsible. Turning to Source Intelligence significantly reduces risk and exposure in this arena.”

Further reading: Beechbrook Capital closes £100m SME fund

Praseeda Nair

Kellen Rempel

Praseeda was Editor for GrowthBusiness.co.uk from 2016 to 2018.

Related Topics

Venture capital funding