Outrider Lands $65M Round

  • General
  • October 28, 2020
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  • 3 minutes read

 

Photo credit: Outrider

Outrider, a software-as-a-service (SaaS) platform for managing autonomous vehicle fleets, has announced that it’s raised $65 million in Series B funding led by Koch Disruptive Technologies, the investment arm of conglomerate Koch Industries, with participation from existing investors including Evolv Ventures, the investment arm of Kraft Heinz, and Henry Crown and Company. With the new fundraise, Outrider has now raised a total of $118 million in outside funding since its inception.


The new funding for Outrider comes on the heels of the company announcing its seed and Series A financings in early this year. Backed by external funding, Outrider has expanded its customer base as of late and has grown to more than 110 employees. The company is based out of the city of Golden, Colorado.

Outrider is a logistics platform that handles autonomous yard operations at logistics facilities such as warehouses, distribution centers, and rail yards. The company’s platform is designed to manage the operation of autonomous vehicles within limited areas, being a three-part system that includes management software, autonomous vehicles, and site infrastructure.

Before now, Outrider was backed by big-name venture capital firms including 8VC and New Enterprise Associates (NEA). The company was founded in 2017 by entrepreneur Andrew Smith.



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