MIAMI, Feb. 21, 2023 /PRNewswire/ -- Sourceability, a global distributor of electronic components offering digital tools, services and data with the power of technology to meet customers' evolving demands, today announced $1 billion in sales, signaling 72% year-over-year growth compared to 2021. Sourceability and its digital tools Sourcengine™, Quotengine™ and Datalynq™ digitalized the electronic component procurement process with transparency, robust data and speed that helped meet the unprecedented needs of the industry through COVID-19, global shortages and economic uncertainty.
"Reaching $1 billion, and while such a young company, is a tremendous achievement for Sourceability," said Jens Gamperl, founder and CEO of Sourceability. "I'm grateful to our employees for their dedicated work and to all of our partners. While we haven't nearly reached the top, I am excited for Sourceability to continue innovating products and services that can help to digitally transform the global supply chain and the many businesses that rely on it."
Sourceability was founded in 2015 and has over 350 employees in 20 locations worldwide and continues to release innovative digital solutions. Its industry leading e-commerce marketplace, Sourcengine™, its digital solution for market intelligence, analytics, and obsolescence case management, Datalynq™ and its innovative enterprise quoting and Bill of Material (BOM) management tool known as Quotengine™ were key drivers of growth for the company. Together, these solutions accelerate the electronic component procurement process for industries including automotive, medical, industrial, and consumer electronics.
Last year, Sourceability debuted its new excess inventory sales portal which enables suppliers to sell surplus components to over 100,000 professional buyers. The solution allowed OEMs and suppliers to properly manage the excess inventory they have accumulated due to supply chain volatility over the past few years. Sourceability continues to grow through partnerships, most recently with Oracle NetSuite® to launch their new ERP system to help assist with the increasing demand. Additionally, the company partnered with Women in Electronics to help expand leadership opportunities for women at Sourceability and address the demand of highly skilled workers needed for semiconductor nearshoring investments.
Sourceability has been recognized for their growth and innovations numerous times this year including being listed as one of Inc. 5000's Fastest Growing Private Companies and named "Outstanding Supply Chain Service Provider" in this year's ASPENCORE Global Electronic Component Distributor Awards. Additionally, Datalynq, Sourceability's market intelligence platform, was recognized by Sensors Converge and Fierce Electronics as "The Most Innovative Product of the Year" in the Data Acquisition & Analytics category of the 2022 Best of Sensors Awards. The company was also ranked #17 on SourceToday's 2022 Top 50 Electronics Distributors list.
Sourceability® a global distributor of electronic components offering digital tools, services and data with the power of technology to meet customers' evolving demands. Sourceability combines the expertise of global distribution with Sourcengine, the leading e-commerce marketplace in the industry, and works with the largest catalog of suppliers to provide the transparency, robust data and speed that customers need to create a seamless procurement process. The company's global distribution centers in Singapore, Hong Kong, and Miami are supported by regional offices to maintain a holistic understanding of customer supply chain needs. Sourceability continues to build upon its initial success since the company was founded in 2015 by harnessing innovation, customer empowerment, and integrity.