By MMH Staff ·
December 7, 2020
Cloud supply chain provider Stord announced Dec. 4 that it has raised a $31 million Series B led by Founders Fund. This new funding will be used to enhance Stord’s cloud supply chain offering
Stord’s stated 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 fraction of the cost it would take for them to build themselves. Stord calls this the cloud supply chain. Stord’s cloud-based platform offers complex logistics services, with service levels it says are typically only available for the largest brands, with utility-like pay-as-you-go pricing.
Over the last year, Stord’s team has grown from 40 to over 125 employees, its logistics revenue has grown nearly 500%, its software segment has grown over 900%, while shipment volume has grown more than 15,000%. Stord’s 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).
December 7, 2020
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