US-based Supply Chain Startup Stord Raises Series B

US-based supply chain and warehousing startup, Stord raised US$ 31M in Series B funding round on 4 December 2020.

The funding round was led by Founders Fund. Other participants include Kleiner Perkins, Susa Ventures and Dynamo. The Series B round brings Stord’s total investments to US$ 46 million.

This new funding will be utilized to fuel growth and in building the first end-to-end cloud supply chain.

About Stord

Founded in 2015 by Jacob Boudreau and Sean Henry, Stord is a warehousing startup providing freight and warehousing services to brands for true visibility and control over their inventory. Stord’s cloud-based technology, data science, and logistics network of 500+ warehouses and 15k+ carriers deliver substantial bottom-line savings to major retailers, CPGs and manufacturers. They aim to increase their customer satisfaction. The startup’s mission is to provide a best-in-class logistics network and software to shippers so they can build fast, scalable, technology-driven supply chains at a low cost and time. Stord is headquartered in Atlanta, Georgia.

While the traditional supply chain requires investing substantial time and money in physical infrastructure, complex legacy software and human expertise, Stord’s cloud-supply chain is built to fundamentally abstract these complexities.

“Our premise is really to exist to offer the same level of Amazon-level logistics for all brands of any size,” said Henry, who noted the company works with more than 10 Fortune 500 brands as well as various startups. 

The company’s cloud software system allows companies to manage and monitor their shipments and inventory domestically. Sean Henry, a Georgia Institute of Technology graduate, founded Stord on the idea of a need for cloud software that allowed brands to more easily manage logistics in order to provide a better customer experience. 

“The pandemic opened a massive opportunity in the market. Customers already recognized the need for Stord, but it really forced them to migrate those supply chain networks to a more cloud-based approach much sooner because of the disruption and how fast their customer demand patterns changed,” said Sean Henry. 

The company claims that over the last year, the Stord team has grown from 40 to over 125 employees, their logistics revenue has grown nearly 500% and shipment volume has grown more than 15,000%.

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