The capital will help Orderful transform the way enterprises connect, trade, and visualize their data through Orderful’s AI native platform.
Koch Disruptive Technologies led Orderful’s $35 million Series C fundraising. Orderful has built a platform to replace decades of manual integration work with intelligent automated infrastructure to facilitate modern electronic data interchange (EDI) to help enterprises better connect with their trading partners.
The background: Enterprises regularly exchange documents with their suppliers and the shipping companies that deliver their merchandise to stores. Orderful provides a suite of tools, including AI solutions that help businesses exchange those standard documents, such as purchase orders, invoices and shipping notices.
Why it matters: Various industries and specific large enterprises have tailored their individual EDI standards, requiring suppliers and partners to uniquely customize their protocols and systems to communicate. This customization adds complexity that Orderful’s platform can resolve, reducing the time it takes to onboard with a partner from weeks to a few hours.
- Since 2020, KBX Logistics™ has partnered with Orderful to modernize carrier onboarding, reducing a 96-step integration process to just 11 steps, and cutting onboarding time to fewer than 10 hours per carrier.
KDT views Orderful as a partner that’s working to address real, persistent challenges in critical systems.
ICYMI: Accenture recently acquired a majority stake in KDT portfolio company Dragos at a valuation of $3.25 billion. Dragos specializes in protecting the technology that runs critical infrastructure and manufacturing assets from cyberthreats.
- The acquisition is another example of how KDT works to create mutually beneficial partnerships that allow its portfolio companies to grow, develop and experiment as they implement their solutions across Koch companies.
