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Stord (company)

Stord (company)

Stord is a platform and network for fulfillment and distribution.

Overview

Stord is an Atlanta, Georgia-based company founded by Sean Henry and Jacob Boudreau in October of 2015 to solve storage concerns in the startup sector. Stord is a software platform with a network of warehouses with excess capacity for additional fulfillment and distribution. The software is inclusive for all warehouse affiliations, each storage facility registered with Stord is bound to a set of procedures and prices, which are standardized across all facilities. Customers then use the software to gain data analytics, insights, and optimization strategies. Stord, as a company, does not own any warehouses but instead partners with warehouses with the aforementioned additional capacities.

History
Founding and founders

Initially, at conception, Stord was a B2C company but later shifted to a B2B business model to address a lack of accessible storage for startup consumer goods that required fulfillment and distribution. The company only pivoted to a B2B model after developing a relationship with the Chatanooga-based Dynamo accelerator, a supply-chain accelerator sponsored by UPS, GE, Ryder, and other organizations. Henry (19 at the time) began communicating with some of the Dynamo sponsors in a mentorship capacity and moved to B2B storage. Henry was a freshman at the Georgia Institute of Technology (Georgia Tech) at the time. He later recruited Jacob Boudreau (18 at the time) as CTO and co-founder in 2016 as a recent high school graduate running a web development agency independently.

Operations
Proprietary software

The Stord software was built in-house after the company partnered with a customer in its infancy. During the partnership, the Stord employees tracked and watched the supply-chain communications and concluded that roughly 25 minutes was spent human-to-human facing through phone calls, emails, and fax to fulfill a small inventory requirement from a warehouse. Stord then decided that software should be built to address the chain of communications spanning over three different delivery methods to combine them in one software program. The software can be integrated into existing operations and is cloud-based, updating in real-time, enabling clients to manage inventory on a global scale.

Warehouses

By 2018, Stord was partnered with over 9,000 warehouses across the United States, including 6,000 locally-owned regional mom-and-pop storage facilities and roughly 3,000 warehouses owned by larger companies like Prologis. In an interview with Forbes, Henry stated that the mom-and-pop warehouses were best suited for meeting client demands by fulfilling local retail needs. The corporate-owned warehouses are best suited for enterprise operations due to pre-existing software and machinery. By 2020, there were warehouse locations in 47 of the 48 continental US states.

Timeline

December 8, 2020
Stord announces $31M Series B

Today, we are excited to share that Stord has raised a $31M Series B led by Founders Fund.

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.

December 2020
Stord raises a $31,949,975 series B round from B Capital Group, Dynamo, Founders Fund, Good Friends, Kleiner Perkins Caufield & Byers and Susa Ventures.
June 12, 2020
Today, the company officially announced that it had purchased Springfield, Missouri-based Cove Logistics for a sum under $10 million.

With $15 million in funding from investors like Kleiner Perkins and Revolution, Stord now has 85 employees across four locations.

June 20, 2019
Stord is named as one of 50 Hot Tech Companies Globally in 2019 by Crunchbase

April 2019
Stord raises a $12,300,000 series A round from Susa Ventures.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Stord, Inc. funding round, December 2020
31,949,975
December 2020
3 Results
Results per page:
Page 1 of 1

People

Name
Role
LinkedIn

Abhinav Agarwal

Employee

Alex Kent

Employee

Autumn Calhoun

Employee

Blake Patton

Investor

Christopher Klaus

Investor

Douglas Spear

Attorney

Emily Gay

Employee

Erica Batista

Employee

George Akers

Attorney

Jacob Boudreau

Board member

Jared Willis

Employee

Joseph Gracek

Employee

Justin Turner

Employee

Michael Otis

Employee

Santosh Sankar

Board member

Scott Arogeti

Employee

Sean Henry

Board member

Sharoz Zindani

Employee

Ted Alling

Investor

Thiago Olson

Investor

Tiffany Dang

Employee

Further reading

Title
Author
Link
Type
Date

Atlanta startup builds an Amazon 'for everyone else' - FreightWaves

Web

December 4, 2020

Warehousing Startup Stord, Founded By Georgia Tech Students, Raises $31 Million As Shipping Surges In Advance Of Holidays

Amy Feldman

Web

December 2, 2020

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
AlleyWatch
April 5, 2021
AlleyWatch
The Pulse of New York Tech
AlleyWatch
December 6, 2020
AlleyWatch
The Pulse of New York Tech
STORD
December 4, 2020
www.prnewswire.com:443
/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...

References

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