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E-commerce logistics startup Stord has acquired CEVA Logistics subsidiary Shipwire, the company announced on Monday.
The deal, for an undisclosed amount and signed on January 1, adds 12 new locations to Stord’s growing logistics network and approximately 60 new employees. Shipwire is an AI fulfillment platform used by e-commerce companies.
“This is a great network, great customers, a great team that can leverage our technology and our collective scale,” CEO Sean Henry told CNBC. “And we spin the flywheel on that scale.”
The deal also brings dozens of new large and mid-market customers and a number of AI-powered internal execution, planning and routing tools to Stord’s network, he added.
Stord will consider partnering with CEVA’s 120 million square foot network across 170 countries.
This is the seventh acquisition from the Atlanta-based startup, which is challenging e-commerce giants such as: Amazon By building a network of infrastructure, we reduce shipping costs and speed up deliveries for small sellers.
Stord is part of a crowded market of startups that provide logistics and fulfillment services to online businesses, including ShipBob, Flexport’s Deliverr, Cart.com, and Shipmonk.
Demand for these services will only increase as more consumers shop online and merchants increasingly operate stores across multiple platforms.
Amazon is trying to capitalize on this trend by offering a competing service called “multichannel fulfillment,” which allows businesses to use its network to fulfill orders on other sites.
Stord continues to expand.
In May, Stord acquired a third-party delivery company. UPS It acquired subsidiary Ware2Go for an undisclosed amount earlier this year.
The company previously acquired Pitney Bowes’ e-commerce fulfillment business and freight and logistics platform ProPak in 2024. Stord recently announced plans for a major investment in Kentucky and technology platform PennyBlack.
Henry told CNBC that the company is considering more acquisitions like Shipwire in the coming months, and is also looking to expand into Australia and Asia. Stord’s current network includes facilities in the United States, Canada, the United Kingdom, and the Netherlands.
Last year, Stord raised $200 million at a valuation of $1.5 billion. Major investors include Kleiner Perkins, Founders Fund, sales force Ventures and Strike Capital.
Stord was founded in 2015 by Henry, an 18-year-old who dropped out of Georgia Tech to pursue the prestigious Thiel Fellowship established by Peter Thiel.
The two-year program currently pays out $200,000 to aspiring entrepreneurs who drop out of college and launch a startup, according to its website. Famous allies include design software companies figma‘s Dylan Field, Anthropic’s Chris Oller, and Ethereum founder Vitalik Buterin.
CNBC’s Annie Palmer contributed to this article.
