Stord this month said it has obtained a $400 million credit facility led by Citi and joined by Morgan Stanley and JPMorgan, alongside First Citizens, Citizens, and KeyBank. The company reported that it has seen significant demand, closing the facility oversubscribed at nearly double the amount it went to market seeking.
“Stord is transforming commerce. Our industry-leading scale, fulfillment infrastructure, commerce technology, and applied AI and robotics have rapidly separated Stord as the leader,” stated Sean Henry, co-founder and CEO of Stord. “This facility, combined with our $250 million Series F, gives us the balance sheet to match the scale, potential, and impact of what we’re building. We will use this capital to expand our fulfillment network, accelerate our deployment of robotics, and invest aggressively in AI through Stord Labs.”
Founded in 2015, Stord described itself as “the physical intelligence layer for independent commerce.” The Atlanta-based company asserted that its technologies help brands to compete with high-quality direct consumer relationships, from the delivery promise shown at checkout to the return that converts into a repurchase. This enables them to grow revenue, reduce costs, and delight consumers, it claimed.
With nearly 100 fulfillment locations worldwide, more than 1,000 brands, and over $15 billion in gross merchandise value (GMV) processed annually, Stord said its packages reach one in four U.S. households every year.
Credit to expand AI through Stord Labs
The company noted that it is approaching $1 billion in revenue run rate, has grown 10x over the past four years, and has secured $650 million in equity and credit capacity just in 2026 alone.
Combined with Stord’s Series F at a $3 billion valuation earlier this year, the credit facility gives the company the liquidity and flexibility to grow and launch rapidly. Stord said the capital will let it expand its fulfillment network, accelerate the automation and robotics work under way at Stord Labs, and improve its software and AI.
Stord Labs tests, develops, and deploys agentic robotics and AI across the Stord network on a single unified stack, according to Stord. That same team embeds forward-deployed engineers directly inside Stord’s own operations and its customers’ businesses. The company said it has already demonstrated increased speed and accuracy across its network.
New executives join company
In addition to the financing, Stord announced two executive appointments. Bill Zerella is joining the company as chief financial officer. He has led finance at three public companies, all of which he brought to the public equity markets, including Fitbit’s IPO in 2015, where the company grew from roughly $300 million to more than $2 billion in revenue and reached a market capitalization of about $12 billion.
Zerella most recently served as CFO at ACV Auctions, a $1 billion-plus business combining software, fintech, marketplace sales, and vehicle logistics. He said that he understands brands the way Stord’s customers do and that he has spent his career building finance inside complex, physical AI businesses like Stord’s own.
Mark Wayland is joining Stord as chief revenue officer. He has more than three decades of enterprise sales and revenue leadership, most recently as CRO at Box. Before that, Wayland was CRO at Tanium and spent more than a decade at Salesforce, rising to senior vice president of the Marketing Cloud. He has built global and enterprise sales organizations at public software companies throughout his career.
“The banks in this facility, and the leaders joining us in Bill and Mark, are both a vote of confidence in the foundation we’ve created at Stord, as well as a signal of where we are headed,” said Henry.