SaaS startup Orderful raises $10mn to improve global transactional data trading

By Harry Menear
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 re...

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.”

SEE ALSO: 

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.” 

Share

Featured Articles

Digital twin technology is supply chain resilience boost

Mark Landry, Intelligent Industry Leader for Capgemini Americas, on how digital twin technology is helping to take supply chain resilience to next level

Andrew New–SCCL to speak at Procurement & Supply Chain LIVE

Andrew New, CEO of Supply Chain Coordination Limited (SCCL) for the NHS will be speaking at Procurement & Supply Chain LIVE LONDON

Supply chain global events, news and features round-up

Walgreens CPO Jim Townsend to speak at Procurement LIVE; Sustainability measurements lacking, says EY survey; Managing risk 'key' - Gartner Supply Chain

Automation 'is helping supply chain serve customer needs'

Digital Supply Chain

No going back on e-commerce - FedEx Express AMEA CEO

Logistics

Behavioural science 'key to procurement change' - Loseby

Procurement