Logistics startup Stord raises $250M at $3B valuation amid rapid sales growth
Stord Inc., a startup that helps consumer brands deliver their merchandise to customers, has raised $250 million in funding.
The company disclosed in its announcement of the Series F round today that more than half a dozen investors took part. The consortium included asset management heavyweights Franklin Templeton and Baillie Gifford. Stord is now worth $3 billion.
Atlanta-based Stord operates a logistics network that companies can use to ship goods to their customers. Additionally, it provides a software platform that optimizes those deliveries. Stord says that it processes merchandise worth more than $15 billion every year.
The company’s logistics network comprises nearly 100 U.S. warehouses that enable it to deliver packages in under two days. Online merchants can use the facilities to ship orders directly to consumers. A brick-and-mortar retailer’s suppliers, meanwhile, can partner with Stord to deliver merchandise to physical stores. The company also supports business-to-business transactions such as the delivery of raw materials to a factory.
