Procurement startup LightSource nets $33m amid tariff risks

LightSource, a San Francisco-based startup, has raised US$33 million in a funding round led by Bain Capital Ventures and Lightspeed Venture Partners, with participation from J2 Ventures.

This announcement coincides with President Donald Trump’s plans to introduce significant tariffs on United States trading partners, creating uncertainty for businesses that depend on global supply chains.

Founded in 2021 by Spencer Penn and Idan Mintz, LightSource develops software designed to streamline procurement processes for companies.

With approximately 30 employees, LightSource aims to provide a centralized solution for procurement teams that often manage fragmented processes across emails, spreadsheets, and invoices.

LightSource serves various industries, including consumer goods, aerospace, e-commerce, and automotive.

This comes as Trump’s tariffs, expected to be announced formally on Apr. 2, propose a 25% duty on imported cars not manufactured in the US. These changes could disrupt supply chains, especially for companies with diverse suppliers and parts.