Orderful, a San Francisco-based company specializing in modern Electronic Data Interchange (EDI) solutions for manufacturers, distributors, retailers, and technology companies, raised $15 million in growth equity funding.
The funding round was led by NewRoad Capital Partners, with participation from 9Yards, Flume Ventures, NFI Ventures, Andreessen Horowitz, and GLP Partners.
According to the Orderful press release, the new funding will enable it to accelerate its product development efforts, expand its global reach, and target more enterprise customers in the retail and supply chain sectors. The company also plans to use portion of funds to scale up its Electronic Data Interchange (EDI) platform. EDI enables exchange of business documents in a standardized electronic format between trading partners. It replaces traditional paper-based methods of sending documents, such as purchase orders, invoices, and shipping notices, with a more efficient and automated online process.
As part of the latest investment, Gregoire Lehmann of NewRoad Capital Partners will join the Orderful board of directors.
Orderful has raised a total of $51 million in funding over six rounds to date. The company’s previous funding rounds include a $19 million Series B round in September 2021, led by GLP Capital Partners, with participation from Andreessen Horowitz and Initialized Capital; and a $10 million in a Series A round in June 2019, led by Andreessen Horowit.
Orderful is serving hundreds of clients, including NFI, Koch Industries, Pepsi Logistics, G-III Apparel Group, Liquid Death, and Continental Mills.