95% of Ordoro‘s $460,000 unregistered private offering was placed on May 14th. The non-brokered equity securities were subscribed by four investors. The first close garnered $438,000. Two previous unregistered financing rounds raised an estimated $1.66 million. The company is backed by E-Merge, a seed stage investor, and Austin Technology Incubator.
Ordoro designs and markets a cloud-based application (app) for small- and medium- sized e-commerce retailers. The app is designed to help users manage orders, purchases and inventory. It integrates with Amazon, BigCommerce, Magento, Shopify, 3DCart and Shopsite as well as USPS, UPS and FedEx. Monthly subscriptions range from $39 for a 100 orders to $299 for 1,500 orders.
The company, headquartered in Austin TX, is led by Jagath Narayan (President). Ordoro elected to keep its revenues undisclosed.
The executive team includes Naruby Schlenker.
The board of directors includes Sangram Kadam.
The company has raised an estimated total of $2.1 million via private unregistered security offerings.
Status: First close
Industry: Other Technology
Amount offered: $460,000
Amount placed: $438,000
First sale: 05-14-2014
Data as of: 05-27-2014