Source: A Global Staffing Startup
Source: A Global Staffing Startup
DEAL TYPE
Venture Studio
TARGET IRR
500%
LOCATION
Delray Beach, FL
DESCRIPTION

Sundial's investment in Source was driven by a profound recognition that the hiring landscape is ripe for disruption. The traditional recruitment model, with its blink-and-miss resume scans and impersonal metrics, has long been due for an overhaul. Source offered a compelling solution, humanizing the hiring process by emphasizing the essence of connection. We saw not just a company but a revolution—a platform capable of transforming the software staffing industry from the ground up. Our confidence in Source was matched by our commitment; we knew that with the right strategy, sales support, and scaling expertise, Source had the potential to deliver outsized returns.

From the onset, Sundial's involvement with Source was holistic. We were there at the inception, identifying the kernel of transformative potential in their business model, and remained hands-on throughout the scaling process. Our strategic input helped to refine Source's approach, enabling the matchmaker model to flourish and become the pre-vetted portal for top-tier talent it is today. We played a crucial role in delineating a sales strategy that resonated with the pain points of companies weary of the traditional hiring grind. Our support helped Source articulate and deliver on the promise of embedding seamlessly integrated teams into organizations, an approach that not only filled positions but enriched cultures.

The partnership between Sundial and Source was dynamic and multi-faceted. We didn't just provide capital; we rolled up our sleeves and became an integral part of the Source team. Our strategic guidance across every facet of the business—from establishing core operations to aligning product-market fit—was instrumental in navigating the pathway from a promising start-up to a market leader. Our involvement was more than just strategic; it was operational, ensuring that the high standards we set in the boardroom were implemented on the ground, resulting in a staggering industry-leading turnover rate of 2%.

The fruits of this collaboration were abundantly clear: a staggering 500%+ return on investment, solidifying Source's status as an industry titan with accolades like one of Inc's Fastest Growing Companies. But beyond the numbers, our shared success is rooted in the culture and community fostered by Source—a direct reflection of Sundial's belief in investing not just in companies, but in people and their potential to innovate. Sundial's contribution to Source's narrative is one of shared vision and mutual triumph, emblematic of our dedication to guiding our partners through every growth stage to reach unprecedented heights.

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