# LightSource

> LightSource Labs sells an AI-powered sourcing platform for the materials and components inside manufactured products. It links bills of materials, engineering revisions, RFQs, supplier quotes, bid analysis and awards so buyers, engineers and suppliers can work from one record. Founded by Spencer Penn and Idan Mintz, the San Francisco company emerged from stealth in 2025 with about $33 million in disclosed seed and Series A funding.

- **Founded:** 2020
- **Headquarters:** San Francisco, United States
- **Founders:** Spencer Penn (Co-founder and CEO), Idan Mintz (Co-founder and CTO)
- **Products:** LightSource sourcing platform, AI Workforce, AI Tariff Tracker
- **Notable:** Processed more than $1 billion in spend and over 1,100 sourcing events since 2024, according to its April 2025 announcement., Reported 10x annual recurring revenue growth over the 18 months before its 2025 launch; absolute revenue was not disclosed., Time Manufacturing reports over $5 million in awarded savings from more than 200 sourcing projects.

## Products & services

- **LightSource sourcing platform** — A revision-managed item and bill-of-materials record with RFQs, supplier collaboration, bid analysis, award scenarios and price history.
- **AI Workforce** — Five AI capabilities covering answers, item ingestion, RFX setup, supplier activation and award optimization.
- **AI Tariff Tracker** — Automatic HTS classification for parts on a bill of materials, announced in 2025.

## Achievements

- Processed more than $1 billion in spend and over 1,100 sourcing events since 2024, according to its April 2025 announcement.
- Reported 10x annual recurring revenue growth over the 18 months before its 2025 launch; absolute revenue was not disclosed.
- Time Manufacturing reports over $5 million in awarded savings from more than 200 sourcing projects.
- Aramsco reports more than $1 million in first-year EBITDA impact and sourcing cycles compressed from months to weeks.
- Named to the 2025/26 ProcureTech100 list.

## Latest updates

- **2026-09** — CEO Spencer Penn discussed the company’s founding and customer outcomes in a published interview.
- **2026-07** — LightSource launched AI Workforce with five sourcing capabilities.
- **2026-05** — Aramsco case study reported seven-figure savings and shorter RFP cycles.
- **2025-04** — LightSource emerged from stealth and announced about $33 million in combined seed and Series A funding.

## Links

- Website: https://lightsource.ai/
- LinkedIn: https://www.linkedin.com/company/lightsource-ai/

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Profile page: https://yespress.io/lightsource
Published by YesPress — https://yespress.io
Last updated: 2026-09-29