Orderful Secures $15M to Revolutionize EDI Integrations with AI and Self-Service Solutions
Orderful, a leader in modern Electronic Data Interchange (EDI), has secured $15 million in a growth funding round led by NewRoad Capital Partners, with participation from other prominent investors. The funding will accelerate Orderful’s mission to simplify B2B integrations through its innovative platform, which enables companies to establish EDI connections 10x faster than traditional methods. The company’s AI-driven error management and newly launched Web EDI Fulfillment product are industry firsts, empowering businesses to manage trading partners seamlessly. With new board members and a strategic focus on scaling operations, Orderful is poised to transform the retail and supply chain sectors.
William Carlin
15 Nov 2024 6:54 PM
A Bold Step Forward in B2B Integration
Orderful, a trailblazer in business-to-business (B2B) integration, has secured $15 million in a growth funding round. The investment was led by NewRoad Capital Partners and included participation from new investors 9Yards, Flume Ventures, and NFI Ventures, alongside existing backers Andreessen Horowitz and GLP Partners.
With its cutting-edge Electronic Data Interchange (EDI) platform, Orderful is transforming how businesses connect and exchange data. The platform enables companies to integrate EDI connections up to 10x faster than competitors, with new connections going live in under two weeks.
Innovation Drives Growth
Orderful has achieved several industry firsts, including the launch of its Web EDI Fulfillment product, which allows businesses of all sizes to adopt EDI without requiring a sales representative. The company has also integrated AI-driven error management into its platform, significantly reducing time and effort for businesses to onboard trading partners and manage errors in real-time.
Industry leaders such as NFI, Koch Industries, Pepsi Logistics, and G-III Apparel Group are among the hundreds of companies leveraging Orderful’s platform to streamline operations and gain a competitive edge.
Strategic Partnerships and Board Additions
As part of the funding round, Gregoire Lehmann, Principal at NewRoad Capital Partners, will join Orderful’s board of directors, and Josh Jewett, Operating Partner at NewRoad, will serve as a board observer. Their expertise in supply chain and retail technology is expected to guide Orderful’s continued expansion.
“Orderful is fundamentally changing the way companies trade EDI,” said Lehmann. “Their modern approach to simplifying EDI is a game changer.”
Jewett echoed the sentiment: “The industry has long struggled with traditional EDI systems. Orderful’s innovative approach eliminates inefficiencies, providing the agility companies need to succeed.”
Driving the Future of B2B Integration
Orderful plans to use the new funding to accelerate product development, expand its global reach, and target enterprise customers in the retail and supply chain sectors. CEO Erik Kiser expressed excitement for the journey ahead:
“We are thrilled to partner with NewRoad Capital Partners as we scale Orderful to new heights.”
Existing investor David Ulevitch, General Partner at Andreessen Horowitz, praised Orderful’s progress:
“Their vision to modernize EDI has been extraordinary. We look forward to their continued innovation.”
About Orderful
Orderful is a modern EDI platform that simplifies B2B integrations, offering pre-connected networks and AI-driven error resolution to improve efficiency and reduce onboarding times. Recognized as a top provider by G2 and SourceForge, Orderful continues to empower businesses across logistics, retail, and manufacturing.
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