Total amount raised
$94 Millions
Latest funding date
06/01/2022
Location
Ordr has successfully raised multiple funding rounds, with the latest being a Series C round closed on June 1, 2022. The company is backed by prominent investors such as Battery Ventures, Wing, and TenEleven Ventures.
Keep reading to explore the intricacies of Ordr's fundraising journey and the investors backing this innovative platform.
What Is Ordr?
Ordr, founded in 2015, is a cybersecurity company based in Santa Clara, California. The company was established by Pandian Gnanaprakasam and Sheausong Yang.
Specializing in asset intelligence and security, Ordr provides visibility and protection for connected devices, including IT, IoT, IoMT, and OT devices. With an employee count ranging from 101 to 250, Ordr leverages AI and machine learning to offer real-time asset inventory, risk assessment, and automated policy enforcement.
How Much Funding Has Ordr Raised?
- Series A (Feb 26, 2019)
- Amount Raised: $16.5M
- Date: February 2019
- Lead Investors: Ten Eleven Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and scale operations.
- Series A (Jun 20, 2017)
- Amount Raised: $4M
- Date: June 2017
- Lead Investors: Wing Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Series B (Dec 11, 2019)
- Amount Raised: $27.5M
- Date: December 2019
- Lead Investors: Battery Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series B (Mar 5, 2020)
- Amount Raised: $6M
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and development of the platform.
- Series C (Jun 1, 2022)
- Amount Raised: $40M
- Date: June 2022
- Lead Investors: Battery Ventures, Ten Eleven Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance IoT monitoring solutions and accelerate sales and marketing efforts.
Total Amount Raised: $94M. Current Valuation: Not publicly disclosed.
Key Investors
- Battery Ventures
- Details: Battery Ventures is a global, technology-focused investment firm. They invest in various stages of a company’s lifecycle, from seed and early-stage to growth and buyout.
- Investment Focus Areas: Technology, early-stage, growth-stage, buyout.
- Notable Investments: Not publicly disclosed.
- Ten Eleven Ventures
- Details: Ten Eleven Ventures is a venture capital firm that focuses exclusively on investing in digital security. They invest in companies that are in the early and growth stages.
- Investment Focus Areas: Digital security, early-stage, growth-stage.
- Notable Investments: Not publicly disclosed.
- Wing Venture Capital
- Details: Wing Venture Capital is a venture capital firm that invests in early-stage business technology companies. They focus on companies that are transforming industries through technology.
- Investment Focus Areas: Early-stage, business technology, industry transformation.
- Notable Investments: Not publicly disclosed.
- Northgate Capital
- Details: Northgate Capital is a venture capital and private equity firm. They invest in technology and healthcare companies at various stages of growth.
- Investment Focus Areas: Technology, healthcare, growth-stage.
- Notable Investments: Not publicly disclosed.
- Unusual Ventures
- Details: Unusual Ventures is a venture capital firm that focuses on early-stage investments. They aim to support founders with hands-on guidance and resources.
- Investment Focus Areas: Early-stage, technology, hands-on support.
- Notable Investments: Not publicly disclosed.
What's Next for Ordr?
Ordr stands at the cusp of significant growth, driven by the increasing number of connected devices and the rising demand for comprehensive security solutions. The company is poised to capitalize on the expanding IoT market, which is projected to reach $566.4 billion by 2027. With deployments in top healthcare systems and manufacturing sites, Ordr's focus on vertical markets like healthcare, manufacturing, and financial services presents substantial opportunities for expansion.
Future fundraising efforts are likely as Ordr continues to scale its operations and enhance its technology. The company's impressive 140% year-over-year growth in new customer revenue and its strategic partnerships position it well for attracting additional investment. However, Ordr will need to navigate challenges such as intense competition from established players and the need to continuously innovate to stay ahead in the rapidly evolving IoT landscape.
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