Building the Cloud Supply Chain - Stord Raises $31M Series B Led by Founders Fund
ATLANTA, Dec. 4, 2020 /PRNewswire/ -- Today, we are excited to share that Stord has raised a $31M Series B led by Founders Fund. This new funding will fuel our growth as we build the first end-to-end cloud supply chain.
At Stord, our mission is to provide our best-in-class logistics network and software to shippers so they can build fast, scalable, technology-driven supply chains at a fraction of the cost (and even less time) it would take for them to build themselves. We call this the cloud supply chain.
Whereas building a traditional supply chain requires investing substantial time and money in physical infrastructure, complex legacy software, and human expertise, our cloud-supply chain is built to fundamentally abstract these complexities. Stord provides brands a cloud-based platform that offers complex logistics services, with service levels typically only available for the largest brands, and with utility-like pay-as-you-go pricing that a brand can leverage from startup to enterprise-level scale.
We believe that we can democratize the heightened consumer experience that is today only available to the largest brands. If successful in converting the traditional supply chain paradigm, we will help even the playing field for brands of all sizes to provide their customers with delightful experiences and remove massive inefficiencies from the $2T+ global logistics industry. While this has been our mission from day one, the need for our solution in the market could not be clearer. Over the last year, our team has grown from 40 to over 125 employees, our logistics revenue has grown nearly 500%, our software segment has grown over 900%, our shipment volume has grown more than 15,000%, and we are just getting started.
Re-architecting one of the world's largest and most outdated industries is no small feat, requiring the right capital as well as expertise around the table. To fulfill this mission, we're excited to welcome Founders Fund to our journey, who has a long track-record partnering with companies to disrupt massive industries. Our Series B also included significant participation from existing investors Kleiner Perkins, Susa Ventures, and Dynamo, as well as participation from strategic investors such as Jeffrey Raider at Good Friends Fund (Co-Founder of Harrys and Warby Parker) and Karen Page at B-Capital (venture arm of Boston Consulting Group). Our world-class investors collectively provide us the expertise needed to rebuild a massive category while partnering with both sophisticated enterprise brands as well as rapidly growing e-commerce companies.
While this investment serves as great validation of our mission and what we have built so far, we are only just beginning. There is an enormous amount to do, and we will remain relentlessly obsessed with the needs of our customers for decades to come—providing them with lower costs, greater efficiency, and more ways to reach their end customers.
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