--Proceeds to fund global expansion, product development and acquisitions 

Sourced Group (Sourced), a leading global IT consultancy specialising in 
large-scale cloud transformations for regulated industries, is pleased to 
announce it has closed a CAD $20 million financing. Toronto-based Round 13 
Capital led the round with participation from Comerica Bank and HSBC. In 
support of the investment, Round 13 Capital Co-Founder John Eckert will join 
Sourced's Board of Directors. 

The financing will facilitate Sourced's aggressive global growth plans, fund 
potential acquisitions, accelerate product development and expand sales and 
marketing efforts. The round is the first institutional investment for 
privately held Sourced, which has been self-funded since its founding in 2010. 
Since then, the company has experienced exponential growth, including a 267 per 
cent increase in revenue and a four-fold increase in headcount over the past 
three years. 

Today's investment builds on an exceptional year for Sourced that saw a growing 
roster of marquee clients including its first U.S.- based global financial 
services client, key executive appointments, and increasing momentum in the 
rapidly expanding cloud consulting and implementation market. IT research firm 
Gartner states, "The market size for cloud is growing exponentially and is 
projected to be a $317 billion industry by 2022."1

"We've just scratched the surface when it comes to cloud computing in large, 
security-conscious organisations," says Jonathan Spinks, CEO, Sourced Group. 
"It's a fundamentally different way of consuming IT that impacts people, tools 
and processes across the enterprise. Our methodologies and intellectual 
property enable clients to rapidly and securely adopt public cloud platforms at 
scale so that they can speed innovation and reduce costs. We're excited to be 
partnering with Round 13 Capital, Comerica Bank and HSBC.  Having their 
financial support and expertise will help us execute our vision and fuel our 
continued growth." 

Sourced also marked several notable global successes over the previous 12 
months, including being named an Amazon Web Services (AWS) Premier Consulting 
Partner, the only Canadian-owned company to hold this distinction. In addition, 
Sourced achieved Microsoft Gold Partner and Google Cloud Premier Partner 
status, making the company one of the few consulting firms globally to hold top 
tier partner status with all three major public cloud providers. In 2018, 
Sourced received a Canada Award for Business Excellence, an AWS ASEAN Rising 
Star Partner Award and Palo Alto Networks recognised the company with its Asia 
Pacific Cloud Partner of the Year award. 

"Sourced is well-positioned to meet the rapidly increasing demand for secure 
and compliant cloud-based IT services in regulated industries worldwide," says 
John Eckert, Co-Founder, Round 13 Capital. "Having achieved trusted advisor 
status with their clients, we believe Sourced has a brand and track record that 
is second to none. We are thrilled to fund their next leg of growth and look 
forward to working closely with management to achieve their goals."

1Gartner, Market Insight: Cloud Growth, Market Direction and Seizing the 
Opportunities, 27 August, 2018 Sid Nag, Colleen Graham, Mike Dorosh
 
About Sourced Group

Sourced is an award-winning global consulting firm that helps organisations 
make the most of cloud computing with a focus on security, governance and 
compliance. With nearly a decade of experience and offices in Australia, Canada 
and Singapore, Sourced provides professional services that secure, migrate and 
manage hyperscale cloud infrastructure for enterprise clients. We specialize in 
organisation-wide cloud transformation and enablement for highly regulated 
industries, including financial services, aviation, healthcare and 
telecommunications. Our proven deployment frameworks and trusted design 
patterns enable security-conscious organisations to unlock innovation, increase 
velocity and embrace cloud at scale. www.sourcedgroup.com 

About Round 13 Capital

Round 13 Capital is a Toronto-based venture capital firm that invests in 
growth-stage technology businesses. The firm is managed by experienced 
investors and operators. It uses a disciplined investment approach to identify 
exceptional entrepreneurs running companies with market leadership potential. 
Round 13 works 'hands-on' with its portfolio companies to unlock strategic and 
financial value.

For further information: Media Contact: Kevin Spikes, Australia: 02 8278 0777 
x2812, North America: 844 401 6455 x2812, Singapore: +65 3163 6580 x2812, 
Direct: +1 647 493 2812, Mobile: +1 647 526 3166, kevin.spikes@sourcedgroup.com 

SOURCE: Sourced Group