Company makes first channel hire on heels of dramatic recurring revenue growth
The Austin, Texas-based company has announced two new additions to its leadership team: Emeka Obianwu, as senior vice president of alliances and channel, and Sarah Moore, as CMO.
The Lowdown: SourceDay, a provider of SaaS-based supply chain automation, is making plans to launch an official partner program, according to sources at the company. To do that, it’s recruited channel veteran Obianwu.
The Details: In his new role, Obianwu will be responsible for managing SourceDay’s technology and consulting partner ecosystem. For more than 10 years, he’s led sales, channel, and corporate development functions at software and consulting companies such as IBM, NSS Labs, and Ping Identity.
As CMO, Moore will lead SourceDay’s global brand, product, digital, and performance marketing programs. The 23-year tech community veteran most recently was vice president of brand and revenue marketing at Spredfast.
Background: Last year, SourceDay secured $6.5 million in Series A funding to continue building its customer base and bring new products to market. The company also expanded its annual recurring revenue by more than 125% over the prior year and now boasts a customer renewal rate of more than 95%.
Hailing from the manufacturing industry, the founders of SourceDay claim to have uncovered “capability gaps” in ERP systems that increase cost and risk, waste time, and stunt productivity. SourceDay solutions address supply chain challenges via automation and ERP integrations.
The Buzz: “Attracting seasoned leaders like Sarah and Emeka is an important milestone for us as we prepare for next-level growth,” said Tom Kieley, CEO of 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.” said 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.”