The e-commerce industry has grown massively over the course of the pandemic, meaning supply chains have been more bogged down than ever as companies work to keep up with increased consumer demand. One of the names working to help businesses compete in the space is logistics company Stord, which just announced the close of its $90 million Series D funding round led by Kleiner Perkins.
Stord offers businesses a cloud supply chain that provides logistics solutions for warehousing, freight and fulfillment on a single platform. It counts hundreds of B2B and B2C companies as customers, including brands like BODYARMOR, Advance Auto Parts and Dollar General. Stord’s solution enables customers to improve the performance of their supply chains with the added speed, flexibility and ease of the cloud.
With the addition of its latest round of funding, Stord has officially been minted a unicorn with a $1.1 billion valuation. Other participants this round include investors like Lux Capital, D1 Capital and Palm Tree Crew. To date, Stord has raised $205 million in venture capital.
“The supply chain is the new competitive battleground. Today’s buying expectations set by Amazon and the rise of the omnichannel shopper have placed immense pressure on companies to maintain more nimble and efficient supply chains,” Sean Henry, Stord CEO and co-founder, said in a statement. “We want every company to have world-class, [Amazon] Prime-like supply chains.”
Stord experienced rapid growth over the past year as more retail businesses made efforts to improve their supply chain. Stord recorded 300 percent overall growth for the third year in a row and is set to continue that momentum in 2021. It also made more than $100 million in revenue and has grown its employee headcount from 160 last year to over 400 so far this year.
Stord also recently opened a new 386,000-square-foot facility in Atlanta. It currently has a network of hundreds of warehouse partners across North America.
With its eye set on even more growth in the future, Stord announced the close of its latest acquisition alongside its Series D funding. The company added DTC fulfillment provider Fulfillment Works to its ranks, a move that enables Stord to expand its first-party warehouse capacity into additional facilities in Connecticut and Nevada. Additionally, Fulfillment Works’ customers will gain access to Stord’s supply chain software and end-to-end logistics platform.
“Our goal from day one was to help companies delight their customers through amazing fulfillment service,” Amy Cooper, CEO and co-founder of Fulfillment Works, said in a statement. “Now, with Stord, we can realize that vision. Stord has built the only end-to-end logistics network that combines the physical infrastructure with software. Together, we will bring new levels of speed, efficiency and flexibility to brands everywhere, just in time for the busy holiday period.”
The entire Fulfillment Works team will join Stord, but the company’s internal growth doesn’t stop there. Stord is currently hiring for a number of Atlanta-based positions. Open roles span teams including customer success, data science, engineering, finance, freight, sales and more.
