Stord mentioned Thursday it closed a $400 million credit score facility led by Citi and employed new finance and income chiefs. The Atlanta-based success firm mentioned the ability closed oversubscribed at practically double its unique goal.
Morgan Stanley, JPMorgan, First Residents, Residents and KeyBank additionally participated. The deal follows a $250 million Sequence F led by Strike Capital in Could that valued Stord at $3 billion. That brings Stord’s 2026 fairness and credit score capability to $650 million, the corporate mentioned.
“This facility, mixed with our $250 million Sequence F, provides us the stability sheet to match the size, potential, and impression of what we’re constructing,” mentioned Sean Henry, CEO and co-founder of Stord, within the announcement. “We’ll use this capital to increase our success community, speed up our deployment of robotics, and make investments aggressively in AI by means of Stord Labs.”
The announcement didn’t disclose the ability’s construction, pricing or maturity.
Practically 100 success areas
Income run-rate is approaching $1 billion, and the corporate has grown tenfold over the previous 4 years, Stord mentioned. Henry informed Axios Professional the corporate has grown materially since its Could increase. Stord, which is privately held, didn’t disclose income or revenue figures.
The corporate says it runs practically 100 success areas worldwide for greater than 1,000 manufacturers and processes greater than $15 billion in gross merchandise quantity a yr. Its packages attain 1 in 4 U.S. households yearly, in accordance with Stord.
Acquisitions constructed a part of that footprint: ProPack Logistics and Pitney Bowes’ e-commerce success unit in 2024, Ware2Go from UPS in Could 2025 and Shipwire from Ceva Logistics in January. Ware2Go alone added 21 e-commerce warehouses with about 2.5 million sq. ft of storage capability, and Shipwire introduced 12 success facilities.
Two hires from public firms
Invoice Zerella, the brand new chief monetary officer, has led finance at three public firms and took all three to the general public markets, together with Fitbit in its 2015 IPO. He most not too long ago served as CFO of ACV Auctions.
Mark Wayland, the brand new chief income officer, was most not too long ago chief income officer at Field and held the identical title at Tanium earlier than that. He spent greater than a decade at Salesforce, the place he rose to senior vp of Advertising Cloud.
Each males come to Stord from NYSE-listed firms.
The brand new lenders and executives are “a vote of confidence within the basis we’ve created at Stord, in addition to a sign of the place we’re headed,” Henry mentioned.
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