The internet solved the problem of disparate buying experiences for things like travel where users are no longer required to go to an endless sea of vendors; instead, individual choices are aggregated on sites like Expedia, providing transparency, pricing information, and accessible comparison tools. For businesses, most are still reliant on fragmented direct purchasing experiences across a wide spectrum of vendors that provide from everything to pens to software, creating a real pain point and bottleneck for accounting, procurement, and the people themselves that depend on these goods and services. Order is a B2B buying marketplace for businesses that centralizes the entire procurement process in one platform. The platform handles the end-to-end journey from ordering to delivery and integrates with existing workflows, vendors, and software. The versatility allows organizations to be nimbler while meeting the requirements of finance, operations, and procurement. Order also has an offering for SaaS businesses with an integrated fintech offering that focuses on net revenue retention to drive loyalty among the software providers on the platform. Both revenue and spend on the platform have been growing 200%-300% annually according to the company. AlleyWatch caught up with Order CEO and Cofounder Zach Garippa to learn more about how Order streamlines the procurement process, how the company’s reimagining of the procurement process drives the payments business, expansion plans, latest round of funding led by Stage 2 Capital.
The AlleyWatch Startup Daily Funding Report: 1/25/2022
The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 1/25/2022 featuring funding details for Order, Impala, and much more.