Orderful Secures $10 Million Series a Funding from Andreessen Horowitz to Improve Supply Chain Data Trading
Orderful, the SaaS platform connecting the world’s supply chain through modernizing electronic data interchange (EDI), announced it has secured a $10 million Series A funding round led by Andreessen Horowitz. David Ulevitch, general partner at Andreessen Horowitz, will join the board. Orderful will leverage the new funding to improve the global supply chain by enabling suppliers to immediately trade transactional data with buyers.
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“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.”
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In the supply chain, companies that buy or sell products trade EDI data in an effort to streamline communication. These transactions include purchase orders, shipment notices, invoices and more. Traditionally, EDI data trading between organizations involves building hundreds, sometimes thousands, of point-to-point integrations. This is a tedious process that can take months and is expensive to implement, and the legacy technology powering these integration environments isn’t keeping up with today’s supply chain and consumer demands. Orderful is a hub that sits between buyers and suppliers, 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,” 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.”
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