The company stated on Monday that E-commerce logistics startup Stord has acquired CEVA Logistics subsidiary Shipwire. The acquisition, completed January 1 at an undisclosed price, brings 12 new outlets to the expanding Stord logistics network with approximately 60 new staff.
Shipwire is an AI-based fulfillment company utilized by e-commerce companies. CEO Sean Henry informed CNBC that “This is a great network, great customers, great team to pull onto our technology and our combined scale. And with that scale, it spins our flywheel up.”
He said that the deal adds dozens of new large and mid-market customers and dozens of AI-powered internal execution, planning, and routing tools into Stord’s network.
Therefore, the Stord will seek to collaborate with the 120 million square foot network that CEVA has in 170 nations.
It is the seventh acquisition of the Atlanta-based startup that is competing with e-commerce giants such as Amazon by developing a network of infrastructure to enable it reduce shipping and deliveries faster to smaller merchants.
Stord is operating in a relatively saturated market of startup companies offering logistics and fulfillment services to online companies such as ShipBob, Flexport’s Deliverr, Cart.com, and Shipmonk.
The demand for such services has merely increased with more consumers buying products online and more merchants opening storefronts across various platforms.
Amazon has tried to take advantage of the trend by providing a competing service through which businesses can use its network to ship orders placed with other sites, also known as multi-channel fulfillment.
Meanwhile, Stord, which owns a third-party delivery company and UPS subsidiary Ware2Go, also acquired it in May this year without disclosing the price.
The company previously acquired Pitney Bowes’ e-commerce fulfillment business and freight and logistics platform ProPack in 2024. Recently, Stord stated that it is making a significant investment in Kentucky and the technology platform Penny Black.
Henry stated to CNBC that the company has plans to acquire more companies similar to Shipwire in the next few months and plans expansion to Australia and Asia. Stord’s existing network includes facilities in the U.S., Canada, the U.K., and the Netherlands.
Stord had raised $200 million last year at $1.5 billion valuation. Key investors include Kleiner Perkins, Founders Fund, Salesforce Ventures, and Strike Capital.
Stord was established in 2015 by Henry, an 18-year-old who dropped out of the Georgia Institute of Technology to receive a prestigious program, the Thiel Fellowship, founded by Peter Thiel.
According to its website, the two-year program currently pays aspiring entrepreneurs $200,000 to quit college to create their startups. The prominent individuals have included design software company Figma’s Dylan Field, Anthropic’s Chris Olah, and Ethereum founder Vitalik Buterin.
