Stord, a logistics startup based in Atlanta, has announced the successful raise of $90 million in Series D financing to expand its platform.
Led by Kleiner Perkins, the round counted with the participation of news investors like Lux Capital, D1 Capital, and Palm Tree Crew. Existing investors BOND, Dynamo Ventures, Susa Ventures, Lineage Logistics, and Founders Fund also joined. The startup closed Series C at $65 million six months ago, with the new round bringing the total funding raised to $205 million through financing rounds, and valuing it at $1.1 billion.
Led by former operators from Amazon, XPO, and Manhattan Associates, Stord supports companies around the globe by allowing them to compete and grow more efficiently. It achieves this by providing them with world-class logistics that include warehousing, freight, and fulfillment, all within an integrated platform.
In addition to the new investment, the startup also announced the acquisition of Fulfillment Works, a leading deep direct-to-consumer (DTC) fulfillment provider, bringing decades of experience to the startup’s operations.
Through the acquisition, customers from Fulfillment Work can access Stord’s supply chain software and end-to-end logistics. Stord will also be using Fulfillment Works’ facilities to serve as additional control centers to offer improved customer service in main regions. Ilya Fushman, a Stord’s board of director member, referred to how this will affect the startup by stating:
“Stord is democratizing logistics for growing businesses at a time when retailers across the economy are massively increasing their investment in their supply chain. 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,”
With logistics and supply chain becoming increasingly relevant in a post-covid19 economy, companies are racing to digitize their operations to prevent their operations from crashing under similar conditions to those experienced in 2020. The logistics startup is looking to capitalize on this demand by providing a platform that allows businesses to catch up.