LogicSource, Inc.

LogicSource, Inc. specializes in optimizing procurement processes through innovative sourcing solutions, enhancing profitability for businesses in various sectors. LogicSource, Inc. is a leading provider of sourcing and procurement solutions.

Founded by David Pennino and Jeff Schwartz, the company is headquartered in Norwalk, US. LogicSource has completed 8 deals to date, with the most recent deal in April 2022, where it raised USD 180 mn in a Growth funding round led by FTV Capital, bringing the total amount raised to USD 180 mn. LogicSource offers a comprehensive suite of sourcing and procurement solutions designed to optimize the procurement process and enhance profitability for businesses across various industries. The company's flagship product, the OneMarket Platform, integrates multiple technology modules that facilitate the entire Source-to-Pay lifecycle.

This platform, along with supporting services like Insights®, Portfolio®, Sourcing®, and Procure-to-Pay®, enables clients to manage and analyze indirect expenditures effectively. LogicSource caters to a diverse client base, including industries such as retail, consumer packaged goods, healthcare, financial services, and private equity, providing tailored solutions to meet unique procurement needs. The company operates primarily in North America, with a growing presence in international markets, ensuring that its clients benefit from a broad spectrum of market intelligence and best practices. LogicSource generates revenue through a model centered on managed procurement services, leveraging a combination of subscription-based and transaction-based structures.

Clients engage LogicSource for ongoing support in managing their indirect spending, often resulting in significant cost savings. The firm's services are priced based on the scope of projects, and they emphasize a performance-based approach, where clients can expect substantial return on investment from their engagement. Transactions typically involve long-term partnerships with businesses that seek improvements in sourcing efficiency and cost management, particularly in areas like supplier onboarding and category management. With over USD 100 bn in managed spend data, LogicSource's established client relationships and market insights contribute to its revenue generation by delivering continuous value to its clientele.

In April 2022, LogicSource, Inc. raised USD 180 mn in venture funding led by new investor FTV Capital. The company plans to utilize this funding to enhance its market offerings and support client-centric growth initiatives. LogicSource is focused on expanding its presence in international markets, aiming to reach additional sectors by the end of 2023.