E-commerce startup Stord buys AI fulfillment platform Shipwire

E-commerce logistics startup Stord acquired CEVA Logistics subsidiary ship wire, the company said Monday.

The deal, which closed Jan. 1 for an undisclosed amount, adds 12 new locations and approximately 60 new employees to Stord’s growing logistics network. Shipwire is an artificial intelligence fulfillment platform used by e-commerce companies.

“It’s a great network, great customers, a great team that will leverage our technology and combined scale,” CEO Sean Henry told CNBC. “And that scale turns our flywheel upward.”

The deal also brings dozens of new large- and mid-sized customers to Stord’s network and a suite of AI-powered internal execution, planning and routing tools, he added.

Stord will seek to partner with CEVA’s 120 million square meter network in 170 countries.

This is the Atlanta-based startup’s seventh acquisition, challenging e-commerce giants like Amazon By creating an infrastructure network that will help reduce shipping costs and speed up deliveries for small sellers.

Stord is part of a crowded marketplace of startups providing logistics and fulfillment services to online businesses, including ShipBob, Flexport’s Deliverr. Sepet.com and Shipmonk.

As more consumers shop online and merchants operate storefronts on more and more platforms, demand for these services has continued to grow.

Amazon has tried to capitalize on this trend by offering a competing service that allows businesses to leverage its network to fulfill orders placed from other sites. omnichannel fulfillment.

Stord is on an expansion spree.

In May, Stord acquired third-party delivery company and POWER SUPPLY It acquired subsidiary Ware2Go for an undisclosed amount earlier this year.

The company previously acquired Pitney Bowes’ e-commerce business and shipping and logistics platform ProPack in 2024. Investment plan in Kentucky And technology platform Penny Black.

Henry told CNBC that the company plans to make more acquisitions like Shipwire in the coming months and expand into Australia and Asia. of stord current network It includes facilities in the US, Canada, the UK and the Netherlands.

Last year, Stord raised $200 million at a $1.5 billion valuation. Major investors include Kleiner Perkins, Founders Fund, sales force Enterprises and Strike Capital.

Stord was founded in 2015 by 18-year-old Henry, who dropped out of the Georgia Institute of Technology to pursue the prestigious Thiel Fellowship founded by Peter Thiel.

The two-year program currently pays aspiring entrepreneurs $200,000 to drop out of college and start their own startups. According to their website. There is also a design software company among famous friends. figmaDylan Field, Anthropic’s Chris Olah, and Ethereum founder Vitalik Buterin.

CNBC’s Annie Palmer contributed to this article.