Orderful, a company transforming business-to-business (B2B) integration with its Electronic Data Interchange (EDI) platform, announced that it raised $15 million in a growth round led by NewRoad Capital Partners. The funding round also saw participation from new investors 9Yards, Flume Ventures, and NFI Ventures, alongside existing investors Andreessen Horowitz and GLP Partners.
Orderful is changing the status quo in the B2B integration space by offering a fast, modern EDI software-as-a-service (SaaS) platform that drastically simplifies how businesses connect and exchange data.
And Orderful customers connect once to their API platform and can go live with new EDI connections in less than 2 weeks, which is 10 times faster than competitors. This year, Orderful launched its Web EDI Fulfillment product, a solution for companies of all sizes to start trading EDI without speaking with a sales representative. Orderful is the first EDI company to provide this product experience.
Orderful is also the first company to integrate AI into its platform to manage and resolve EDI errors in real time. The AI-based recommendation engine drastically reduces the time and effort required to go live and manage trading partners.
Hundreds of companies, such as NFI, Koch Industries, Pepsi Logistics, G-III Apparel Group, Liquid Death, and Continental Mills, are utilizing Orderful’s platform to gain a competitive edge in their respective markets. With its latest funding round, Orderful is poised to accelerate growth and further enhance its product offerings.
Gregoire Lehmann, Principal at NewRoad Capital Partners, will join Orderful’s board of directors as part of the funding round. Josh Jewett, Operating Partner at NewRoad and former Chief Information Officer (CIO) at Family Dollar and Dollar Tree, will join as a board observer. And their deep supply chain and retail technology expertise will provide invaluable insights as Orderful continues to scale. Orderful is fundamentally changing the way companies trade EDI.
This funding will enable the company to continue this momentum as it targets more enterprise customers in the retail and supply chain space. And with this new funding, Orderful plans to accelerate product development, expand its global reach, and deliver solutions that empower businesses to thrive in an increasingly interconnected world.
KEY QUOTES:
“Their approach to simplifying EDI is a game changer. We like to invest in companies with strong domain expertise that are solving big legacy problems and delivering on what they promise to the market. Orderful exceeds expectations in all of these areas.”
– Gregoire Lehmann, Principal at NewRoad Capital Partners
“Having spent years in the retail industry, I understand the pain points of traditional EDI systems. Orderful’s innovative approach is precisely what the industry needs to move forward. The labor expense, delays, transaction fees, cumbersome interfaces, and poor error handling are all gone with their model. I’m excited to contribute to their journey.”
– Josh Jewett, Operating Partner at NewRoad Capital Partners
“NFI has always been at the forefront of innovation in logistics, and Orderful has been a critical partner in helping us streamline our EDI processes. Their platform has enabled us to be more agile and responsive, giving us a significant competitive advantage.”
– Dave Broering, President of Integrated Logistics at NFI
“We are thrilled to partner with NewRoad Capital Partners, whose industry expertise and extensive network will be invaluable as we continue to scale Orderful. The enthusiasm and support from our investors, both new and existing, are a testament to the impact Orderful is making in the B2B integration space. We are excited to continue growing at this pace and look forward to the opportunities ahead.” David Ulevitch, General Partner at Andreessen Horowitz, reflected on Orderful’s journey, “From the beginning, we saw the potential in Orderful’s vision to modernize EDI. Their progress has been incredible, and we’re excited to see how they will continue to innovate and lead in this space.”
– Erik Kiser, CEO of Orderful
