Total amount raised
$253 Million
Latest funding date
10/01/2024
Location
Outrider has successfully raised funding over six rounds, with the latest being a Series D involving 13 investors, including Koch Disruptive Technologies and New Enterprise Associates as lead investors. The company specializes in developing robotic software and systems to automate logistics hub operations.
Keep reading to explore the intricacies of Outrider's fundraising journey and the investors backing this innovative platform.
What Is Outrider?
Outrider, based in Brighton, Colorado, specializes in developing robotic software and systems to automate logistics hub operations. The company operates in various industries, including Artificial Intelligence, Autonomous Vehicles, Industrial Automation, Logistics, and Software.
With an employee count ranging from 101 to 250, Outrider focuses on enhancing efficiency, safety, and sustainability in yard operations. Their integrated system includes management software, autonomous vehicles, and site infrastructure, aiming to transform traditional logistics hubs into automated, high-performing environments.
How Much Funding Has Outrider Raised?
- Seed Round
- Amount Raised: USD 8,500,000
- Date: February 2020
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of autonomous yard operations technology.
- Series A
- Amount Raised: USD 44,500,000
- Date: February 2020
- Lead Investors: 8VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: USD 65,000,000
- Date: October 2020
- Lead Investors: Koch Disruptive Technologies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the autonomous yard technology.
- Series C
- Amount Raised: USD 73,000,000
- Date: January 2023
- Lead Investors: FM Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and solidify the company's position in logistics automation.
- Series D
- Amount Raised: USD 62,000,000
- Date: October 2024
- Lead Investors: Koch Disruptive Technologies, New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive the commercial scaling of autonomous yard operations and extend the protection of patented innovations.
Total Amount Raised: USD 253,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Koch Disruptive Technologies
- Details: Koch Disruptive Technologies is the venture capital arm of Koch Industries, focusing on transformative technologies. They have been a significant investor in Outrider, participating in multiple funding rounds.
- Investment Focus Areas: Disruptive technologies, various sectors.
- Notable Investments: Not publicly disclosed.
- New Enterprise Associates
- Details: New Enterprise Associates is a global venture capital firm investing in technology and healthcare. They have been involved in several funding rounds for Outrider.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Not publicly disclosed.
- FM Capital
- Details: FM Capital is a venture capital firm that invests in automotive and transportation technology. They led the Series C funding round for Outrider.
- Investment Focus Areas: Automotive, transportation technology.
- Notable Investments: Not publicly disclosed.
- 8VC
- Details: 8VC is a venture capital firm that invests in technology companies, particularly in software and logistics. They were the lead investors in Outrider's Series A round.
- Investment Focus Areas: Technology, logistics, healthcare.
- Notable Investments: Not publicly disclosed.
- ARK Invest
- Details: ARK Invest is an investment management firm that focuses on disruptive innovation. They have invested in Outrider to support its autonomous yard operations.
- Investment Focus Areas: Disruptive innovation, robotics, artificial intelligence.
- Notable Investments: Not publicly disclosed.
What's Next for Outrider?
Outrider is poised to revolutionize logistics hubs by scaling its autonomous yard operations with Fortune 500 customers. The company plans to expand to hundreds of systems, addressing additional use cases in logistics hubs and potentially intermodal rail and port terminals. This expansion represents a significant opportunity, given that Outrider's customers already account for over 20% of all yard trucks in North America.
Future fundraising opportunities seem promising as Outrider continues to grow and innovate. The company has already raised over $250 million, and its ambitious plans suggest that additional funding rounds may be on the horizon to support further technological advancements and market expansion.
However, Outrider faces challenges such as ensuring the safety and reliability of its autonomous systems in complex environments, navigating regulatory requirements, and competing with other companies in the autonomous logistics space. Despite these hurdles, the company's focus on safety, efficiency, and sustainability positions it well for future success.
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