Sourceability, a global distributor of electronic components and supply chain service provider, announces plans to expand its offerings across verticals and geographic markets, and strengthen expertise with its latest executive appointment.
Since being acquired by CrowdOut Capital last year, the company set its sights on doubling its customer base in 2024.
External market conditions, spanning from rising geopolitical tensions to advances in technological innovation and industrial automation, set the stage for increasing demand for effective electronic components sourcing. In 2024, the company will focus its efforts on expanding into high-growth industry verticals including military and aerospace, medical, automotive, and industrial automation. These sectors are expected to see significant growth, with particularly high demand for memory and AI components.
To support the additional demand, Sourceability shifted its US operations to be headquartered in Austin, Texas. The new headquarters, set to open in June, will boast the capacity to house a global warehouse and multiple departments in a single location, and feature an improved layout. This move was accompanied by global expansion in Asia, where Sourceability opened its South Korea location in late 2023.
Sourceability also added to its talent pool with the recent appointment of Alon Balash as Senior Vice President of Revenue. An industry veteran with over 30 years of experience in the electronics industry, Balash was positioned to balance strategic decisions and financial discipline – both of which will be instrumental in driving Sourceability’s continued growth across markets. Prior to Sourceability, he served as the Vice President of Sales EMEA at Future Electronics, where he played a pivotal role in shaping the company’s success in the region.
“Sourceability’s unique value proposition as a global distributor offering best-in-class digital tools provides a significant opportunity to aggressively outgrow the market in any environment and deliver unparalleled value to our customers and supplier partners,” said Balash. “I look forward to using my expertise to help bring that value to new customers across each of our strategically identified focus areas.”
“This is an exciting time for Sourceability as we build on the company’s reputation for meeting customers where they are and addressing their needs,” said Ryan Jacob, CEO of Sourceability. “We remain committed to developing forward-thinking solutions to digitally transform the supply chain and look forward to seeing the impacts of our most recent additions.”
