Warehousing Tech Startup STORD Moves to Double Headcount—Hiring 20+—Following Seed Round and Adding Strategic Investment from Tom Noonan
ATLANTA, GA—December 13, 2018—STORD®, the networked warehousing and distribution partner on a mission to help modern shippers distribute products brilliantly, today announced plans to hire 20+ following their April 2018 seed funding and with the addition of a strategic follow on investment from Tom Noonan, finalized in June 2018. Noonan is a prolific tech investor, entrepreneur, and founding partner of Atlanta-based venture capital firm TechOperators. STORD is using the seed funding and strategic investment to accelerate the expansion of a world-class team, to drive greater software platform innovation, and to meet demand from mid-market and enterprise businesses shifting rapidly to cutting-edge warehousing models.
In recent months, STORD has quickly emerged as a high-growth disruptor in the warehousing category, more than quadrupling revenue, doubling headcount, and increasing volume from their largest Fortune 500 customer by a factor of 8. This growth is a direct result of the company’s relentless commitment to excellence in both service and innovation.
In June 2018, after the company’s $2.4 million seed round in April 2018, STORD received a strategic follow on investment from Tom Noonan, a prolific investor with deep domain expertise in enterprise software. Tom Noonan has presided over several successful investments and exits both personally and during his tenure at TechOperators. Noonan also has a long history of building billion-dollar companies, including JouleX which was acquired by Cisco for $107 million in 2013, and Internet Security Systems, Inc. which was acquired by IBM for $1.9 billion in 2006.
“I back companies that are transforming their industries and I’m thrilled to have made this strategic investment in STORD,” said Noonan. “Companies are craving a way to get their products into their customers hands better – faster, cheaper, easier, more reliably. They have been looking for a partner who can help them put in place the right warehousing capability to get them there. STORD clearly understands this need and is revolutionizing the way companies distribute their products. That’s why they are growing so fast.”
“Buyer expectations are increasing exponentially so shippers are taking their product distribution capabilities to the next level,” said Sean Henry, STORD’s CEO. “With STORD, modern shippers can move beyond the challenges of traditional warehousing and freight: several disconnected warehouses, no inventory visibility, little operational support. STORD offers a completely different warehousing experience for the modern age: a single partner, flexible coverage across the country, total inventory visibility, high-touch operational support, and more.”
Jacob Boudreau, STORD’s CTO commented, “STORD’s explosive growth and passionate community of shippers and warehouse operators reinforces the uniqueness of what we’re doing. Adding this strategic investment following our seed round has enabled us to scale, touch new markets and expand our vision to perfect warehousing for businesses of all sizes.”
As the company readies itself to meet the growing demand of mid-market businesses and enterprises, this strategic investment is helping further position STORD as the leader in networked distribution. The $2.4 million round of seed funding raised in April of 2018 was co-led by Susa Ventures and Dynamo and included investments from Chris Klaus, Revolution’s Rise of the Rest Seed Fund and the Atlanta-based corporate-backed fund, Engage.
To learn more about STORD careers, visit https://www.stord.com/careers/jobs