Atlanta-based Stord is wrapping up Q1 2021 with a Series C funding round sure to turn heads across the supply chain field.
The $65 million Series C round, led by new investors BOND, Salesforce Ventures, and Lineage Ventures, brings the startup’s total capital raised over the last 6 months to $100 million.
Previous investors Chattanooga-based Dynamo, Susa Ventures, and Founders Fund also joined the round.
Bond was also part of Atlanta-based Greenlight’s Series C round, and led investments in tech giants like Clear and Canva.
“BOND is an incredible enterprise software investor that backs the biggest internet-enabled trends re-defining industries and ultimately we aligned on a shared vision for how supply chains will shift over the coming months and years,” co-founder Jacob Boudreau told Hypepotamus. “Similar to our recent series B, we believe the underlying trends driving companies to need increased agility, data and visibility, and connected cloud-based supply chains have only accelerated with COVID. With this backdrop, we believe there’s a unique opportunity to quickly accelerate the Cloud Supply Chain, and partnering with BOND in this round will help to ensure we are able to capitalize on that opportunity.”
For the Stord team, the Series C validates the record growth the team has seen over the last twelve months. “Stord is innovating in one of the largest and most outdated markets that exists — global supply chains: a multi-hundred billion dollar market in the USA, and a multi-trillion dollar market globally. When we look at raising capital, we look forward at this immense opportunity and pair it against the incredible opportunities we have with our customers today, and when all of those align, it makes sense to accelerate capital into the business,” added Boudreau.
High-profile companies like Tyson Foods, Schneider Electric, and Dollar General have signed on as Stord’s customers.
“Distribution is critical in accelerating the adoption of e-commerce,” BOND’s Adam Ghetti added in a statement. “Stord is helping to democratize access to the logistics software traditionally only available to the world’s largest retailers. By providing smaller retailers access to the sophisticated technology that the industry’s leading retailers are using, they will be better positioned to win in an increasingly competitive marketplace.”
The team has scaled quickly over the last year, as it doubled its headcount in 2020. The team’s job board is currently packed with data, engineering, and sales roles.
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