Recognition follows $100+ billion in direct materials sourced through the LightSource platform since launch

LightSource, the direct materials operating system purpose-built to connect engineering, procurement, and suppliers, today announced it has won the 2026 Startup Growth Award from DPW, one of the industry's most important conferences.

“Direct materials is the most under-invested corner of procurement, and it deserves better technology,” said Spencer Penn, co-founder and CEO of LightSource. “I've attended DPW every year for the last four years, and standing on that stage to receive this award always felt like a bit of a pipe dream. Winning it is the kind of validation you can't manufacture yourself.”

The growth-stage award recognizes procurement and supply chain tech startups that are building, scaling, and innovating in the industry. LightSource’s AI-native platform automates the entire supply-management lifecycle, from sourcing potential suppliers and managing requests for quotes to comparing bids and helping teams collaborate, so manufacturers can bring products to market faster.

LightSource was selected from more than 200 startup applicants, advancing first to the 10 semifinalists and then to the top three finalists. Each finalist delivered a timed presentation and took questions from a panel of 20 judges made up of C-suite practitioners, industry analysts, and top consulting partners. The judges weighed market traction, business potential, innovation, team strength, and competitive differentiation before naming LightSource the winner in a final vote.

Innovation was central to the company's pitch, which highlighted LightSource AI Workforce, a set of AI capabilities launched in July that handle the manual work of sourcing, from item ingestion and data cleanup to RFQ setup, supplier follow-up, and award optimization.

LightSource serves original equipment manufacturers and other manufacturing businesses, including Fortune 500 and Global 2000 organizations and private equity-backed companies. Since its launch, $100 billion in direct materials has been sourced through the LightSource platform. Customers include Amazon, Canada Goose, Conair, and HelloFresh.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20261006675325/en/

I've attended DPW every year for the last four years, and standing on that stage to receive this award always felt like a bit of a pipe dream. Winning it is the kind of validation you can't manufacture yourself.