Stord, the cloud supply chain platform, announced $90 million Series D funding led by Kleiner Perkins, with additional participation from Lux Capital, D1 Capital and Palm Tree Crew, and existing investors, including BOND, Dynamo Ventures, Founders Fund, Lineage Logistics, and Susa Ventures. In addition, Michael Rubin, Fanatics founder and founder of GSI Commerce, Carlos Cashman, CEO of Thrasio, Max Mullen, co-founder of Instacart and Will Gaybrick, CPO at Stripe, joined the round.
The new funding values the company at $1.1 billion and comes just six months after its $65 million Series C. Stord has raised $205 million in total funding.
Along with the funding, Stord also announced the closing of its acquisition of Fulfillment Works, a DTC fulfillment provider. Fulfillment Works’ decades of deep direct-to-consumer (DTC) experience and first-party warehouses on both coasts are critical to powering Stord’s next phase of growth.
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“The supply chain is the new competitive battleground,” said Sean Henry, Stord CEO and co-founder. “Today’s buying expectations set by Amazon and the rise of the omnichannel shopper have placed immense pressure on companies to maintain more nimble and efficient supply chains. This new funding and the outstanding Fulfillment Works team bring us that much closer to our goal of being the last logistics partner businesses will ever need. We want every company to have world-class, Prime-like supply chains.”
With Fulfillment Works, Stord can provide even more specialised, first-party capacity, which, when combined with its network of hundreds of warehouse partners, offers businesses the most powerful supply chain network on the market. Fulfillment Works’ customers will now have access to Stord’s supply chain software and end-to-end logistics, and Stord will now use Fulfillment Works’ facilities to provide additional control and deeper customer service in key regions. These new warehouses will not only improve the supply chain experience for Stord’s customers, but Stord will share best practices across its entire partner network. Fulfillment Works’ whole team will join Stord.
“Our goal from day one was to help companies delight their customers through amazing fulfillment service,” said Amy Cooper, CEO and co-founder of Fulfillment Works. “Now, with Stord, we can realise that vision. Stord has built the only end-to-end logistics network that combines the physical infrastructure with software. Together, we will bring new levels of speed, efficiency and flexibility to brands everywhere, just in time for the busy holiday period.”
“Trillions of dollars will move online in the next few years, and supply chains need to catch up to this transition,” said Ilya Fushman, Stord board director and partner at Kleiner Perkins, who also led Stord’s Series A. “Stord is democratising 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.”