Stord is now valued at $1.1 billion after the successful raise of $90 million in Series D funding. This new round of seed financing is earmarked to grow the Atlanta-based logistics startup, and comes after closing a Series C at $65 million six months ago. The total funding raised to date is $205 million by investors including BOND, Dynamo Ventures, Susa Ventures, Lineage Logistics and Founders Fund.
Founded in 2015 by Sean Henry and Jacob Boudreau, Stord is a supply chain platform that supports companies all over the world. Its cloud-based approach to distribution networks is overseen by former operators of Amazon, XPO and Manhattan Associates.
Led by Kleiner Perkins, this fourth round saw the participation of new investors like Lux Capital, D1 Capital and Palm Tree Crew, in addition to the existing investors mentioned above.
Logistics and supply chain service firms are increasingly relevant in a post-COVID-19 economy, as companies aim to safeguard and streamline the operational crashes experienced over the past couple of years.
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In addition to this new investment, Stord has announced the acquisition of Fulfillment Works, which is a direct-to-consumer (D2C) fulfillment provider. The startup sought the established firm’s 50+ years of fulfillment experience to help bolster customer service in its primary regions.
“Stord is democratizing logistics for growing businesses at a time when retailers across the economy are massively increasing their investment in their supply chain,” said Ilya Fushman, a member of Stord’s board of directors, in a statement. “Stord will become for the supply chain what Amazon Web Services is for cloud computing: an intelligent, reliable and scalable utility that lets companies focus on growing their business without having to worry about their logistics ever again.”
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