A Portland, Ore., startup that develops online tools for architects and designers just closed a $2.5 million fundraising round to take its platform national.
Source, which rebranded from Krowdsourced, has grown from four to fifteen employees and steadily added customers since launching in 2018. The fresh cash will allow Source to expand across the country, opening new physical locations and widening the reach of its digital platform.
Founders Co-Op, Rogue Venture Partners, Rogue Women’s Fund, Revolution’s Rise of the Rest Seed Fund, MetaProp, and angel investors participated in the round. Source has raised a total of $3.7 million to date.
Architects and designers can search for specific products on Source using filters such as whether an item can be cleaned with bleach — a must for hospitals — and for environmentally-sustainable products. Then they can order samples, which automatically connects them to local sales reps.
The site covers products used inside and outside of commercial construction, including tiles, paint, carpet, brick, siding, glass, counters, and cabinets. Source works with more than 200 architecture and design firms in the western United States.
Before the latest fundraising round, Source was available to customers in Washington, Idaho, Hawaii, Alaska, and Colorado. The company plans to expand across the U.S. by the end of the year. Source also has a physical location in Portland where customers can check out samples.
Source CEO Nicole Schmidt has a long history in interior design for commercial spaces. In a 2019 GeekWire Startup Spotlight, she called herself an “accidental entrepreneur.”
“I was a sales rep doing my regular updates in a dusty, old materials library when a box of stone literally fell on top of me,” she said at the time. “After I pulled myself up, I realized that this is how the industry is making decisions that effect 5 percent of U.S. GDP annually. You could say I was literally hit over the head with the idea that there should be a place with product and manufacturer information about building materials that was transparent and accessible to everyone in the industry.”
Source: Geek Wire
