Stord Logistics is cloud-based software Supply chain, they have raised series B funds around $31 Million.
Stord logistics service provider founded by Jacob Boudreau and Sean Henry. The company offers warehouses and storage services manufacturing, retail, beverages, food, pharmaceutical and telecom industries.
The cloud supply chain, Stord announced about its raise additional to $120 million in Series D financing led by Franklin Templeton, the total round brought around $210 million. Stord officially declares Series B led by Founders Fund raised around $31 million. These funds will uplift the growth as for the first end-to-end cloud supply chain.
For the Stord consumers, it is being customized to ever-improving delivery quality and speed managed by the infrastructure and by recent leading retailers’ capabilities. The company mentioned the delivery items which they buy to present a seamless experience on the surface, in reality it is strikingly different.
Stord software has raised $31 Milliion.
The door-step product delivery has a complex web of spreadsheets, emails and outdated enterprise systems that collaborates with different factories such as trucks, delivery drivers, fulfillment centers and more.
Amazon has built their logistics network and technology-in house for over decades, the brand is stuck with prime experience through assembling a mix of expensive fulfillment centers, complex enterprise software and third-party logistics providers with rigid contracts. Uprise software across a distributed supply chain with dozens of different logistics providers and manufactures is impossible.
Many brands are able to manage with legacy ERP systems and long period fulfillment center leases, it is a fragile logistic setup as it is not resilient to change, it is becoming difficult to compete in a world where logistics is becoming a corner-stone for consumer experience. The leading brands demanding for a platform that can provide scale, infrastructure and expertise requirements to meet their customer needs, the brand want to avoid building their in-house supply chain to be built from scratch. The company Stord mission to provide best logistics network and software to shippers, the software will build scalable, fast, technology-driven supply chains at a fraction of the cost with the less period of time, this will be provided in cloud supply chain.
Stord has led to growth of logistics revenue with nearly 500%.
Their cloud supply chain is diverse from the traditional supply chain which requires investing substantial money and time in physical infrastructure, human expertise and complex legacy software. Stord provides a cloud-based platform which provides complex logistics services with service levels that is available for the largest brands and it has pay as you go pricing which is a benefit for a brand to leverage from start-up to enterprise level scale.
The last year, their team has grown from 40 to over 125 employees and the logistics revenue has increased to nearly 500%. It has shown its software segment growth over 900% and the volume has increased by 15,000%.
Stord helps to provide the software capabilities and logistics network to proceed an omnichannel shipper’s product end-to-end in the period at the port and leaves manufacturing line to consumer destination, business and retailers along the complete integrated experience with exceeding flexibility, greater visibility, faster delivery and lower cost.
The founder funds who have a long track-record collaborated with companies to disrupt massive industries. Series B includes participation Kleiner Perkins, Dynamo and Susa Ventures and even the participation from strategic investors.