An Atlanta company that brokers warehouse space to online retailers has raised $65 million in venture capital.
Stord said in a news release that San Francisco-based Bond Capital led the $65 million investment round. Other investors included business software maker Salesforce, industrial real estate company Lineage Logistics and Dynamo Ventures in Chattanooga, Tennessee.
The fundraising round comes as Atlanta’s industrial real estate market is booming, and online shopping has skyrocketed. Rental prices for metro Atlanta warehouse space rose an average of 3.8% in 2020 compared to 2019, according to real estate firm Colliers International.
Stord will use the proceeds to “build its technology platform and logistics infrastructure to help brands deliver products to their customers faster and more efficiently than they can do on their own,” the news release said.
Stord, founded in 2015, uses cloud computing to match online retailers with unused capacity in warehouses and distribution facilities. The company specializes in retailers that are attempting to compete with Amazon.
“Stord is helping to democratize access to the logistics software traditionally only available to the world’s largest retailers,” said Adam Ghetti, a Bond Capital adviser.
Stord’s customers include Tyson Foods and Dollar General. Its platform is connected to a logistics network of about 500 warehouses and 20,000 trucking carriers.
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