The ongoing supply chain disruptions around the world are not disturbing the flow of capital into startups in the field.
Atlanta-based Stord is the latest supply chain startup to pocket a large tranche of money, as it announced an additional $ 120 million to its Series D led by Franklin Templeton — bringing the total of the round to $ 210 million and upping its valuation to $ 1.3 billion .
In September, the company announced it raised a $ 90 million Series D funding led by Kleiner Perkins that valued the company at $ 1.1 billion.
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Stord — whose cloud supply chain platform helps customers 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 past year-plus. In 2020, venture-backed startups in the supply chain and logistics industry saw about $ 7.7 billion in investment, according to Crunchbase numbers. That amount ballooned to $ 13.4 billion last year and already sits at around $ 7.7 billion this year after just four-plus months, according to Crunchbase data.
In its release, Stord said it recently crossed $ 200 million in annualized revenue run-rate, and plans to use the new cash to expand its capabilities, as well as build out its team. In the past six months alone, the company has grown from 400 employees to over 700, and expects to close the year with more than 1,000 employees.
Illustration: Dom Guzman
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