LightSource is an AI-native platform purpose-built for direct materials procurement. Founded in 2021, LightSource was created to address the long-standing reliance on spreadsheets and email for managing billions in direct materials spend. Our platform serves as a comprehensive operating system that automates the entire source-to-contract lifecycle, from BOM management to bid analysis. By replacing manual workflows with intelligent automation and enabling cross-functional transparency, LightSource helps procurement accelerate their sourcing cycles, optimize costs, and deliver more strategic business impact.
For decades, procurement teams have managed billions in direct materials spend—70-80% of total product cost—using Excel spreadsheets and email, tools never designed for strategic sourcing.
LightSource addresses this fundamental gap. Founded in 2021 by Spencer Penn and Idan Mintz, we built the first AI-native platform purpose-built exclusively for direct materials procurement.
Our platform serves as a comprehensive operating system that automates the entire source-to-contract lifecycle, from BOM management to bid analysis. By replacing manual workflows with intelligent automation and fostering cross-functional transparency, LightSource enables procurement teams to accelerate sourcing cycles, optimize costs, and deliver strategic business impact.
Product Strengths
New Product Introduction (NPI) Sourcing — Accelerate product launches by connecting engineering, procurement, quality, and finance teams in real-time collaboration from prototype to production, ensuring supplier capabilities are validated early to avoid costly redesigns
Bill of Materials (BOM) Cost Management — Track and optimize product costs across complex, nested BOM structures with real-time visibility into cost components, version comparisons, and integrated margin management for complete cost transparency
Transformational Sourcing — Execute large-scale category re-sourcing events every 1-3 years to identify new global suppliers and unlock 10%+ savings through comprehensive RFQs that evaluate complex requirements across your entire supplier base Iterative eSourcing
Launch repeated sourcing cycles in 15-30 minutes using customizable templates and category-specific quote formats, building valuable time-series data that improves decision-making with each iteration
Operational & Periodic Procurement — Manage ongoing spot sourcing and compliance requirements with streamlined quote collection from existing suppliers, tracking quarterly or monthly price updates without manual email and spreadsheet workflows
Ideal Customer
Companies in North America, EMEA and China with an annual revenue of $100M - $3B+
