US-based logistics company Stord closed a $90m series D round featuring logistics and warehousing company Lineage Logistics on Tuesday.
Venture capital firm Kleiner Perkins led the round, which featured Lux Capital, D1 Capital, Palm Tree Crew, Dynamo Ventures, Bond, Founders Fund, Susan Ventures and assorted private investors. It valued the company at $1.1bn.
Stord provides supply chain services, including warehousing, freight and fulfillment to business-to-business and business-to-consumer enterprises across the US.
In addition to the series D, Stord completed its acquisition of logistics provider Fulfillment Works to boost its growth on both coasts. Through the purchase, Fulfillment Works’ customers will gain access to Stord’s supply chain software while Stord will benefit from a network of facilities in key markets.
Lineage Logistics and enterprise software provider Salesforce’s corporate venturing unit Salesforce Ventures participated in the $65m series C round in March 2021, which was led by Bond and also featured Susan Ventures, Founders Fund and Dynamo.
Founders Fund led a December 2020 series B round that raked in $31m and also saw participation from Kleiner Perkins, Susan Ventures, Dynamo and several private investors.
Sean Henry, founder and chief executive of Stord, said: “The supply chain is the new competitive battleground.
“Today’s buying expectations set by Amazon and the rise of the omnichannel shopper have placed immense pressure on companies to maintain more nimble and efficient supply chains.
“This new funding and the outstanding Fulfillment Works team bring us that much closer to our goal of being the last logistics partner businesses will ever need. We want every company to have world-class, Prime-like supply chains.”
