Global supply chain startup Orderful secures $10 million Series A round
SaaS platform Orderful aims to modernize electronic data interchange (EDI) and transform the global supply chain industry. The company announced a $10 million Series A funding round last week, led by Andreessen Horowitz.
David Ulevitch, general partner at Andreessen Horowitz, will join the board as part of this funding round. This latest capital will go towards enabling suppliers to plug into Orderful’s API for the trading of transactional data in the global chain.
“Orderful has done a remarkable job of simplifying what is typically a messy and broken web of supply chain interactions.”
“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, the founder and CEO of Orderful.
With its data-driven API, Orderful is disrupting an industry saddled with bespoke integration environments that rely on outside service providers. By eliminating the need for companies to build point-to-point EDI integrations, Kiser says Orderful is solving the EDI integration problem in an automated, transparent and scalable way.
The former B2B data trader knew the frustration of wrangling this data firsthand. He built Orderful’s network of buyers, sellers, warehouses, carriers, 3PL’s, ERP’s and iPaaS vendors so that users can trade EDI data such as purchase orders, shipment notices and invoices. The company is streamlining an otherwise tedious, expensive process traditionally built on legacy technology that can’t handle the modern supply chain.
“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.”