Total amount raised
$253 Millions
Latest funding date
Location
Outrider has successfully raised $62 million in a Series D financing round in 2024, with backing from 19 investors including Interwoven Ventures and Koch Disruptive Technologies. The company specializes in automating yard operations for logistics hubs, offering an integrated system that includes management software, autonomous vehicles, and site infrastructure.
Keep reading to explore the intricacies of Outrider's fundraising journey and the investors backing this innovative platform.
What Is Outrider?
Outrider, founded in 2017 by Andrew Smith, is based in Brighton, Colorado. The company operates within the industries of artificial intelligence, autonomous vehicles, industrial automation, logistics, and software.
Specializing in automating yard operations for logistics hubs, Outrider employs between 101 and 250 people. Their integrated system includes management software, autonomous vehicles, and site infrastructure, aiming to enhance efficiency, safety, and sustainability in yard operations.
How Much Funding Has Outrider Raised?
- Seed Round
- Amount Raised: $8.5M
- Date: February 2020
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial technology and establish a market presence.
- Series A
- Amount Raised: $44.5M
- Date: February 2020
- Lead Investors: 8VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and further develop autonomous yard technology.
- Series B
- Amount Raised: $65M
- Date: October 2020
- Lead Investors: Koch Disruptive Technologies
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product offerings.
- Series C
- Amount Raised: $73M
- Date: January 2023
- Lead Investors: FM Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and scale their technology and operations.
- Series D
- Amount Raised: $62M
- Date: October 2024
- Lead Investors: Koch Disruptive Technologies, New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive commercial scaling of autonomous yard operations and solidify market leadership.
Total Amount Raised: $253M. 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 and disruptive technologies. They aim to invest in companies that are innovating and transforming industries.
- Investment Focus Areas: Disruptive technologies, various industries
- Notable Investments: Not publicly disclosed
- New Enterprise Associates
- Details: New Enterprise Associates (NEA) is a global venture capital firm that invests in technology and healthcare companies. They have a long history of supporting innovative startups and helping them scale.
- Investment Focus Areas: Technology, healthcare
- Notable Investments: Not publicly disclosed
- 8VC
- Details: 8VC is a venture capital firm that invests in technology companies that create long-term economic and societal value. They focus on backing visionary entrepreneurs and transformative technologies.
- Investment Focus Areas: Technology, long-term economic value, societal value
- Notable Investments: Not publicly disclosed
- FM Capital
- Details: FM Capital is a venture capital firm that invests in early-stage technology companies, particularly in the automotive and transportation sectors. They aim to support innovative solutions in these industries.
- Investment Focus Areas: Automotive technology, transportation technology, early-stage technology
- Notable Investments: Not publicly disclosed
- Interwoven Ventures
- Details: Interwoven Ventures is a venture capital firm that invests in early-stage technology companies. They focus on supporting startups that have the potential to disrupt and innovate within their respective industries.
- Investment Focus Areas: Early-stage technology, disruptive innovation
- Notable Investments: Not publicly disclosed
What's Next for Outrider?
Outrider is poised to capitalize on the growing demand for automation in logistics hubs. With plans to scale its autonomous yard operations to hundreds of systems, the company is targeting Fortune 500 customers and exploring new use cases in industries like package shipping, retail, and automotive. This expansion represents a significant opportunity to enhance safety and efficiency in logistics, particularly through zero-emission systems.
Given the substantial capital raised and the involvement of prominent investors, future fundraising rounds seem likely as Outrider continues to grow. The company’s focus on sustainable freight transportation aligns with industry trends, positioning it well for further investment. However, challenges such as ensuring the safety and reliability of autonomous systems, navigating regulatory landscapes, and facing competition from other tech firms remain.
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