- Orderful, a SaaS-based supply chain platform that is modernizing the electronic data interchange (EDI), announced it raised $10 million
- This round of funding was led by Andreessen Horowitz
Orderful, a SaaS-based supply chain platform that is modernizing the electronic data interchange (EDI), announced it raised $10 million in Series A funding led by Andreessen Horowitz. Andreessen Horowitz general partner David Ulevitch is joining the Orderful board in conjunction with this round.
And Orderful is planning to utilize this round of funding to improve the global supply chain by enabling suppliers to immediately trade transactional data with buyers.
“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,” Orderful founder and CEOErik Kiser. “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.”
For supply chains, companies that buy or sell products trade EDI data to streamline communication. These transactions include purchase orders, invoices, and shipment notices. And this EDI data trading between organizations generally involves building hundreds (sometimes thousands) of point-to-point integrations.
This is a tedious process and it can take months. Plus it is expensive to implement and the legacy technology powering these integration environments has not been keeping up with today’s supply chain and consumer demands. And Orderful now works with more than 1,000 retailers, 10,000 vendors, and 5,000 carriers.
What Orderful does is act as a hub that sits between buyers and suppliers thus allowing them to immediately onboard and trade EDI data without building custom integrations.
“Orderful has done a remarkable job of simplifying what is typically a messy and broken web of supply chain interactions,” added Ulevitch. “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.”
