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E-commerce logistics startup Stord has bought CEVA Logistics subsidiary Shipwire, the company said Monday.
The deal, which closed Jan. 1 for a undisclosed amount, adds 12 new locations to Stord’s growing logistics network and about 60 new employees. Shipwire is an AI fulfillment platform used by e-commerce firms.
“This is a great network, great customers, great team to pull onto our technology and our combined scale,” CEO Sean Henry told CNBC. “And with that scale, it spins our flywheel up.”
This is the seventh acquisition from the Atlanta-based startup that’s challenging e-commerce giants such as Amazon by building out a network of infrastructure to help lower shipping costs and speed up deliveries for smaller merchants.
The company has been on an expansion spree in recent months.
In May, Stord bought third-party delivery company and UPS subsidiary Ware2Go for an undisclosed amount earlier this year. The company bought Pitney Bowes’ e-commerce fulfillment business and freight and logistics platform ProPack in 2024.
Stord also recently announced a major investment plan in Kentucky and tech platform Penny Black.
The Atlanta-based company raised $200 million at $1.5 billion valuation in May. Stord’s investors include Kleiner Perkins, Founders Fund, Salesforce Ventures 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.
The two-year program currently pays aspiring entrepreneurs $200,000 to quit college to build their startups, according to its website. Famous fellows have included design software firm Figma‘s Dylan Field, Anthropic’s Chris Olah and ethereum founder Vitalik Buterin.
