The ongoing supply chain disruptions around the world are not disrupting the flow of capital to startups in the field.
Atlanta-based Stord is the latest supply chain startup to pocket a big chunk of money, as it announced an additional $120 million to its Franklin Templeton-led Series D, bringing the round’s total to $210 million and increases its valuation to $1.3 billion. .
In September, the company announced that it had raised a $90 million Series D financing led by Kleiner Perkins that valued the company at $1.1 billion.
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Stord, whose cloud supply chain platform helps clients with logistics including warehousing, freight and fulfillment, has now raised a total of $325 million, according to the company.
The supply chain management space has seen an unprecedented amount of funding in the last plus year. In 2020, venture-backed startups in the supply chain and logistics industry saw investment of around $7.7 billion, according to figures from Crunchbase. That amount ballooned to $13.4 billion last year and is already hovering around $7.7 billion this year after just four months, according to data from Crunchbase.
In his statement, Stord said he recently surpassed $200 million in annualized revenue run rate and plans to use the new cash to expand his capabilities as well as build his team. In the last six months alone, the company has grown from 400 employees to more than 700 and expects to close the year with more than 1,000 employees.
Illustration: Dom Guzman
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