Warehouse Tech Startup Stord Receives $12.4 Million Investment
Stord Inc., an Atlanta-based startup that offers a technology platform for warehouse operators to market unused space, has received $12.4 million in funding from a group of investors that includes Tom Noonan and Chris Klaus, Dynamo, Rise of the Rest Fund and Engage Ventures.
The new funding comes a year after the company received $2.6 million in seed money from Noonan, a venture capitalist with experience in developing enterprise software businesses.
“I back companies that are transforming their industries, and I’m thrilled to have made this strategic investment,” Noonan said in a statement issued by Stord in December after the company received a follow-on investment from Noonan and announced plans to double its headcount to meet demand for its software and services. “Companies are craving a way to get their products into their customers’ hands better, faster, cheaper, easier, more reliably.”
Stord helps companies locate space in warehouses on a flexible, on-demand basis and provides tools to help shippers track and manage their inventory.
Stord was started in 2015 by Sean Henry and Jacob Boudreau, who met at the Georgia Institute of Technology. The company has received assistance from the Dynamo, a supply chain business incubator based in Chattanooga, Tenn., to develop its product and to test ideas with local transportation companies. — Transport Topics
