SaaS startup Orderful raises $10mn to improve global transactional data trading
San Francisco-based startup Orderful announced today that it has raised US$10mn in a Series A funding round led by Andreessen Horowitz. Orderful will reportedly use the money to add additional features to its SaaS platform that connects supply chain players through electronic data interchange. Specifically, the money will be used to “improve the global supply chain by enabling suppliers to immediately trade transactional data with buyers.”
Founded in 2016, Orderful has so far received one seed round from Initialized Capital and otherwise supported itself through a bootstrapped approach, according to TechCrunch. Today, the company’s platform is host to around 1,000 retailers, 10,000 vendors and 5,000 carriers. A large part of the company’s next phase will reportedly be growing its user base.
“The demand for immediacy in the supply chain is growing. For example, with Amazon and Walmart competing for the fastest parcel delivery experience for consumers, the pressure pushed down the supply chain forces suppliers to level up to these new delivery standards,” said Erik Kiser, Founder and CEO, Orderful. “For the past 40 years, companies have built their own bespoke integration environments with a heavy reliance on consultants and managed service providers. Orderful’s API challenges the traditional integration infrastructure and eliminates the need for companies to build point-to-point EDI integrations. We’re solving the EDI integration problem in an automated, transparent, and scalable way.”
Across supply chains, companies in buyer-supplier relationships often trade transactional data - ranging from purchase orders to shipment notices - in order to ease communication and often results in massive data exchange between potentially incompatible systems. Orderful’s hub sits between buyers and suppliers, allowing them to immediately onboard and trade EDI data without building custom integrations, alleviating a great deal of hassle and tedium for supply chain operators.
“Orderful has done a remarkable job of simplifying what is typically a messy and broken web of supply chain interactions,” said David Ulevitch, General Partner at Andreessen Horowitz. “We invested in Orderful because we believe Erik, the team, and the technology are solving a major challenge and are making it dramatically easier for companies to do business.”
The Ultimate Procurement & Supply Chain Event
Global eProcurement leader JAGGAER has been announced as the latest sponsor for Procurement & Supply Chain Live.
Recognised as a Leader by Gartner in both Strategic Sourcing and Procure-To-Pay, JAGGAER’s direct and indirect eProcurement solutions help over 1850 customers, connecting to a network of 4 million+ suppliers in 70 countries.
From September 28th-30th, Procurement & Supply Chain Live gives you the opportunity to network with C-level executives, gain insight from industry pioneers and walk away with actionable insights that accelerate your career. By the end of the week, we promise you’ll have the skills to solve the world’s most pressing supply chain and procurement challenges.
Whether you attend virtually or in-person, you’ll strategise how to cope with global disruption, learn from industry pioneers - including newly announced speakers Chris Shanahan, VP Global Procurement/CPO at Thermo Fisher Scientific; Jim Townsend, Chief Procurement Officer at Walgreens Boots Alliance; and David Cho, CPO at University of Massachusetts - and walk away with tips, tactics, and tangible connections.
How to Attend
In a COVID-disrupted era, we know that the majority of people would rather avoid travelling for events─why take the risk, right? In response to the continued disruption, BizClik Media Group has decided that Procurement & Supply Chain LIVE will offer the best of both worlds through hybrid accessibility.
That means you and your peers can attend the event in person or virtually ─ with no disadvantages for people who choose not to make the trip to the Tobacco Dock venue.
Procurement & Supply Chain LIVE will be held at the Tobacco Dock in London, an industry-leading venue that is renowned for delivering world-class events. For attendees’ peace of mind, the venue is working to the government-endorsed AEV All Secure Framework, alongside mia’s AIM Secure and ‘Good to Go’ accreditation, they will ensure that we achieve a COVID-secure environment to facilitate all of your networking needs.
Our physical venue is both historic and stunning, but it has no bearing on the information that you and your peers can gain from the event. You can still absorb it all, interact with other attendees, and enjoy the conference experience on your alternative, virtual platform.
The platform will feature live feeds from all of the stages, as well as virtual networking areas. So, if you want to avoid travel, it’s not a problem! You can still get involved and enjoy the entire experience from the comfort of your own home.
New Speakers for Procurement & Supply Chain Live
VP Global Procurement/CPO at Thermo Fisher Scientific
Shanahan is Vice President, Global Procurement/CPO for Thermo Fisher Scientific in Waltham, MA. He joined the company to lead efforts in leveraging scale in the marketplace, develop capability and processes across the company, while transforming the supply base. He co-authored the Procurement Leaders Handbook, and holds a Master’s in Business Administration from Open University in the United Kingdom.
Chief Procurement Officer at Walgreens Boots Alliance
Townsend leads Walgreens procurement (Goods and Services Not For Resale). Prior to joining Walgreens Boots Alliance, he worked for Anglo American and General Electric also within commercial procurement. He has worked overseas extensively, in both manufacturing and retail environments. He holds an MBA in Strategic Procurement from the University of Birmingham, UK and a Bachelor’s Degree in Mechanical Engineering.
CPO at University of Massachusetts
Cho is Chief Procurement Officer for the University of Massachusetts, Unified Procurement Services Team (UPST), comprising strategic sourcing, contracts, supplier management, procurement operations, accounts payable, travel services, and customer service that provide quality service to the UMass system. Cho has 25-plus years of strategy and operations management consulting and industry experience. He was formerly Global Head of Sourcing and Vendor Management at BlackRock.
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