Stord Expands Warehouse Capacity in Key Markets to Meet Heightened Demand
Additional 780K+ sq ft. of warehouse and fulfillment space relieves pressure on brands as Stord executes on its mission to make supply chain a competitive advantage
ATLANTA, June 23, 2022 /PRNewswire/ -- Stord, the Cloud Supply Chain leader, announced expanded warehouse capacity in three key U.S. markets to meet increased demand amid record-low vacancy rates. The move also marks progress towards Stord's mission of making supply chain a competitive advantage with best-in-class port-to-porch logistics combined with the integrated technology that brands need to connect, orchestrate, and optimize their supply chains.
The expansion includes 780,000 square feet of new warehouse space in regions where availability is scarce: Las Vegas, Nevada; Reno, Nevada; and New Haven, Connecticut—three of six nodes in Stord's first-party fulfillment network. Combined with more than 1,000 integrated partner facilities across the U.S. Stord's network reaches over 99% of consumers in two days or less via cost-effective ground shipping, made possible by strategic positioning and intelligent routing.
Despite ever-rising consumer expectations and increasingly complex supply chains, brands have yet o solve the challenges posed by disparate logistics partners and disconnected technologies—slowing growth, hindering customer experience, and creating massive operational burdens. Increasing capacity is a strategic step in enabling fully-integrated, infinitely-elastic, and consistently-optimized supply chains for every brand, via Cloud Supply Chain.
"Our vision is to make best-in-class logistics a plug-and-play, scalable utility for brands. We're leading a paradigm shift from disparate and disconnected supply chain operations to Cloud Supply Chain, much like how cloud computing disrupted the slow and cumbersome build-it-yourself enterprise IT strategy," said co-founder and CEO of Stord, Sean Henry. "For this vision to be possible, Stord must be ahead of the curve with capacity and able to meet customer needs, even when capacity is sparse. These strategic investments ensure that we remain ahead and capable of fulfilling our vision of Cloud Supply Chain."
The new warehouses are currently open, fully functional, and already serving customers. This positions Stord and its customers for success in advance of the 2022 peak holiday season. Stord is hiring for several positions in each facility, and expects to create significant new jobs across Nevada and Connecticut in the coming years.
Today's announcement underscores Stord's continued momentum and comes just one month after the company extended its Series D round to over $200M in funding at a valuation of $1.3B with a new investment led by Franklin Templeton. The company has a strong balance sheet as customers continue to invest in the technology and logistics solutions they need to meet consumer expectations and fuel growth.
To learn more about Stord's Cloud Supply Chain approach, visit stord.com.
Stord is the leading Cloud Supply Chain platform enabling companies to compete and grow with world-class logistics—including warehousing, freight, and fulfillment—in a single, integrated platform that's available exactly when and where they need it. Hundreds of B2B and B2C companies like BODYARMOR, Native, Tula, Advance Auto Parts, Thrasio, and Dollar General use Stord to make their supply chains perform with the speed, flexibility, and ease of the cloud. Led by former operators from Amazon, XPO, and Manhattan Associates, Stord is headquartered in Atlanta and backed by leading investors, including Kleiner Perkins, BOND, Franklin Templeton, Founders Fund, Lux Capital, D1 Capital, Salesforce Ventures, Susa Ventures, and Lineage Logistics.
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