Stord Secures $400M Credit Facility to Scale AI Fulfillment Network

Stord, a physical intelligence platform for independent commerce, has secured a $400 million credit facility to scale its fulfillment network. The financing, led by Citi alongside Morgan Stanley and JPMorgan, was oversubscribed at nearly double the amount sought by the company. This additional liquidity will enable Stord to enhance its fulfillment infrastructure, accelerate automation and robotics development, and strengthen consumer experiences.

Founded in 2015 by Sean Henry and Jacob Boudreau, Stord operates nearly 100 fulfillment locations worldwide, serving over 1,000 brands across independent commerce. The company processes over $15 billion in gross merchandise value annually and has grown tenfold in the past four years, reaching an approximate $1 billion in revenue run-rate.

Stord Labs, an Atlanta-based facility, develops physical intelligence technologies for the company's fulfillment network. The lab focuses on agentic robotics and AI, testing these technologies on a unified technology stack directly within Stord operations and customer businesses. Recent innovations include autonomous carts for warehouse picking efficiency and vision technology for security, safety, and employee training.

The new capital will be used to increase investment in automation, robotics, and AI development, as well as expand the fulfillment network. Stord expects automation to improve both speed and accuracy across its network. The company believes its approach allows proven technologies to move quickly across its network without the need for separate systems at each facility.

Two senior executives have recently joined Stord's leadership to support its enterprise commerce growth plans. Bill Zerella, previously CFO at Fitbit, has been appointed as Chief Financial Officer, while Mark Wayland, who held the same position at Box and Tanium and Senior Vice President at Salesforce, has become Chief Revenue Officer. These appointments strengthen Stord's financial and commercial leadership as it aims to compete with major commerce platforms like Amazon.