Source raises $ 2.5 million to expand its commercial design platform nationwide
A Portland, Oregon, startup that develops online tools for architects and designers just closed a $ 2.5 million fundraiser to expand its platform nationwide.
Source, which renamed Krowdsourced, has grown from four to fifteen employees and has steadily added customers since its launch in 2018. The new money will allow Source to grow across the country, opening new physical locations and expanding 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 friendly products. Then they can order samples, which automatically connects them to local salespeople.
The site covers products used inside and outside of commercial construction, including tile, paint, rugs, bricks, siding, glass, countertops and cabinetry. Source works with more than 200 architecture and design firms in the western United States.
Prior to the last fundraiser, Source was available to clients in Washington, Idaho, Hawaii, Alaska and Colorado. The company plans to expand into the United States by the end of the year. Source also has a physical location in Portland where customers can view samples.
Source CEO Nicole Schmidt has a long history in interior design for commercial spaces. In a GeekWire Startup Spotlight 2019, 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 me,” she said at the time. “After I got up, I realized this is how the industry makes decisions that affect 5% of US GDP every year. You could say that I was literally struck by the idea that there should be a place with product and manufacturer information on building materials that is transparent and accessible to everyone in the industry.