LightSource, the direct materials operating system purpose-built to connect engineering, procurement, and suppliers, today announced that it has been named a finalist for DPW’s 2026 Startup Awards in the Growth Stage category.

“We're honored to be named a finalist for the DPW Growth Award, especially in such a competitive category," said Spencer Penn, Co-Founder and CEO of LightSource. "LightSource has achieved incredible growth over the past few years as we've continued to innovate and build technology for direct materials, which remains one of the most underserved segments of the procurement technology industry."

The growth stage award recognizes procurement and supply chain tech startups with annual recurring revenue of $2M to $10M that are building, scaling, and innovating in the industry. LightSource’s AI-native platform automates the entire supply-management lifecycle, including sourcing potential suppliers, managing requests for quotes, comparing bids, and helping teams collaborate.

One of the more unique aspects of DPW's Growth Award is the live pitch. LightSource will present on stage at the Startup Arena to plead their case by showcasing growth milestones and the company's journey. After the timed presentation will be a Q&A with the esteemed judging panel, followed by putting it to a vote. For Growth Stage finalists, judges weigh market traction and business potential most heavily, alongside innovation, team strength, and competitive differentiation.

Last year, LightSource grew 300% and expects to grow at a similar rate this year, with 200% growth projected for 2027 and 2028. To date, the platform has processed more than $1B in spend.

LightSource serves original equipment manufacturers and manufacturing businesses, including Fortune 500 and Global 2000 organizations and private equity-backed companies. Customers include Amazon, Canada Goose, Conair, and HelloFresh.

LightSource will present live on Sept. 30 and winners will be announced the following day, Oct. 1, at center stage. For more information about DPW, visit dpw.ai

About LightSource

LightSource is the direct materials operating system purpose-built to connect engineering, procurement, and suppliers, so innovators always know what their products cost and launch faster. Unlike legacy suites built for indirect spend, LightSource is built for direct materials and NPI velocity. Trusted by Amazon, Conair, Canada Goose, and Shure. For more information, visit lightsource.ai

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