Last week, Baird Capital closed on $215 million for its fifth venture capital fund.
Baird Capital, the Chicago-based investment arm of Milwaukee private investment and wealth management firm Robert W. Baird & Co. Inc., is investing in a Texas company developing software that automates purchasing for manufacturers and distributors, helping them better manage their supply chain and expenses.
Baird Capital led a $12.5 million Series B funding round for Austin, Texas-based SourceDay Inc. and was joined by existing investors in the company, including Silverton Partners, ATX Ventures and Draper Associates.
“As businesses face unprecedented times, they are seeking faster answers to bigger challenges,” said Joanna Arras, principal at Baird Capital, in a statement. Arras has joined SourceDay’s board as part of the investment.“
More than ever, companies need resilient and agile supply chains,” Arras continued. “Poor supply chain visibility and inefficient collaboration will be crippling during this time of rapidly shifting demand. Baird Capital is proud to invest in SourceDay to help companies face these challenges head-on.”