Outrider Advances with $62 Million Series D Funding

Deal News | Nov 05, 2024 | Orrick

Outrider, a pioneering entity in autonomous yard operations, secured $62 million in a Series D funding round, represented by Orrick. This substantial infusion of capital aims to enhance Outrider's capabilities to scale its service for Fortune 500 customers by 2025. Outrider is committed to automating logistics processes, emphasizing safety and efficiency, while minimizing the manual, hazardous tasks prevalent in the industry. With over $250 million raised in equity so far, Outrider's mission resonates across key industries like package shipping, retail, and automotive, as it pushes for sustainable freight through zero-emission systems. The funding is set to bolster Outrider's strategic position in logistics automation and operational excellence.

Sectors

Logistics and Transportation
Autonomous Technology

Geography

North America – Outrider's customers represent over 20 percent of all yard trucks operating in North America, indicating a significant presence and operational focus in this region.

Industry

Logistics and Transportation – The article discusses Outrider's focus on logistics automation, particularly within yard operations, which are critical components of the logistics and transportation sector.
Autonomous Technology – Outrider is a leader in autonomous yard operations, which involves using autonomous technology to improve yard management and logistics services.

Financials

$62 Million – This is the amount raised by Outrider in its Series D funding round.
$250 Million – Total equity capital Outrider has raised to date.

Participants

Name	Role	Type	Description
Outrider	Target company	Company	Outrider is a company specializing in autonomous yard operations aimed at enhancing safety and efficiency in logistics hubs.
Orrick	Legal Advisor	Company	Orrick provided legal representation for Outrider during the Series D funding round.
Andrew Smith	Founder and CEO	Person	Andrew Smith is the founder and CEO of Outrider, advocating for the company's mission to transform logistics through automation.