Logistics startup Stord raises $250M at $3B valuation
Illustration: Axios Visuals
Stord, a logistics startup serving midmarket e-commerce brands, has raised $250 million at a $3 billion post-money valuation.
What's next: The company says it will use part of the proceeds to launch Stord Labs, a sandbox to develop and validate AI and robotics against real orders.
Follow the money: The Series F round included Kleiner Perkins, Founders Fund, Franklin Templeton, Baillie Gifford, Strike Capital, G Squared, Bond and Lux Capital. Stord has raised about $675 million to date.
- Stord is using funds to scale, as it aims to double revenue from the roughly $500 million it booked last year, CEO Sean Henry tells Axios Pro.
How it works: Stord's cloud-based software helps brands route shipments and manage their networks.
- The Atlanta-based company offers order management and warehouse management systems to improve order and inventory accuracy.
- It also provides post-purchase landing pages and connects their customers with shipping insurance.
Zoom in: The company has made several acquisitions — most recently acquiring Shipwire from Ceva Logistics in January — and Henry says it could pursue additional deals moving forward.
What we're watching: "A lot of these growth investors in this round are seeing the opportunity to create a massive standalone and long term business," says Henry.
- "I think that would be one that's best served in the public markets."
