Stord, a cloud supply chain company that seeks to provide an Amazon-like experience for all brands, is the latest unicorn in the supply chain space. The Atlanta-based company announced $ 90 million in Series D funding on Tuesday evening, bringing the company’s total funding to $ 205 million and new funding valued to $ 1.1 billion. ..
“The supply chain is a new competitive battlefield,” Sean Henry, Stord The CEO and co-founder said in a statement. “Today’s buying expectations and the rise of omni-channel shoppers set by Amazon are putting a lot of pressure on businesses to maintain a more agile and efficient supply chain.”
The funding round was led by Kleiner Perkins and was additionally attended by existing investors such as Lux Capital, D1 Capital, Palm Tree Crew, and BOND, Dynamo Ventures, Founders Fund, Lineage Logistics and Susa Ventures.
Acquisition of DTC
In addition, Stoad announced the acquisition of Fulfillment Works, Direct sales fulfillment provider. Fulfillment Works has three warehouses: Reno, Nevada, North Haven, Connecticut, and Shelton, Connecticut. Family-owned for over 50 years, the company offers value-added services such as EDI order processing, logistics management services, warehousing, inventory management, customer service and call center outsourcing, and customized packaging services.
“This new funding and outstanding FulfillmentWorks team is much closer to our goal of becoming the last logistics partner our business ever needs. We are a world-class prime for all companies. We want to have a supply chain like this, “says Henry.
STORD provides shippers with an end-to-end solution through a cloud-based platform connected to over 500 warehouses and 20,000 carriers. The company offers nationwide warehousing capacity, digital freight, an integrated logistics network, and two-day fulfillment of e-commerce orders from anywhere in the United States.
“From day one, our goal was to help companies please their customers through great fulfillment services,” Amy Cooper, CEO and co-founder of Fulfillment Works, said in a statement. I am. “Now, with Stord, we can realize that vision. Stord has built the only end-to-end logistics network that combines physical infrastructure and software. Together, a busy vacation Bringing new levels of speed, efficiency and flexibility to brands everywhere, just in time. “
Stord is growing rapidly, with revenues exceeding $ 100 million last year and more than 300% growth for the third consecutive year. The number of employees has increased from 160 in 2020 to more than 400 this year, and large clients such as Body Armor, DYPER and Thrasio have been added to the customer list. This includes omni-channel brands Advance Auto Parts, Dollar General, Schneider Electric and Veritiv. ..
Global e-commerce is set to exceed $ 5 trillion In 2021, B2B online commerce will Reach $ 20.9 trillion By 2027. B2Be Commerce It had already risen before COVID-19, but has accelerated rapidly since then, seeking new space from Stord and other warehouse operators.
“I think it was very clear that it was very important for our suppliers to build digital relationships with their customers,” said Mitchrose, senior vice president of sales for B2B payments companies. Bill Trust, Telled Modern Shipper. “COVID has taken it to another level.”
August, Stood State-of-the-art fulfillment and innovation hub In Atlanta. Henry told Modern Shipper that the 386,000-square-foot facility will include robotics and automation tools to serve customers, but will also have areas dedicated to testing new innovations.
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https://www.freightwaves.com/news/warehousings-newest-unicorn-stord-reaches-1-1b-valuation The latest unicorn in warehousing: Stord reaches $ 1.1 billion valuation