On Sept. 10, 2019, Sourced Group announced that it has closed a $20 million financing. Toronto-based venture capital firm Round 13 Capital led the financing with participation from Comerica Bank and HSBC. This financing is the first institutional investment for privately held Sourced Group, which has been self-funded since its founding in 2010.
Sourced Group is a leading global IT consultancy firm specialising in large-scale cloud transformations for regulated industries, with a focus on security, governance and compliance. With offices in Canada, Australia and Singapore, Sourced Group provides professional services that secure, migrate and manage hyperscale cloud infrastructure for enterprise clients.
Gowling WLG advised Sourced Group with respect to this financing with a team that included Derek Keay (corporate and equity financing), Melanie Polowin (employment) and Jennyfer Kinnell and Cynthia Elderkin (debt financing).