Continued business expansion has created the need for additional executive-level expertise at cloud supply chain company Stord. On Thursday, the Atlanta-based company named Tom Barone, an experienced e-commerce and logistics executive, its first president and chief commercial officer.
Most recently chief revenue officer for CommerceHub, Barone boasts more than 20 years of experience in e-commerce with a focus on technology and the supply chain. He has spent the past four years at CommerceHub, where he has led revenue growth, playing a significant role in the company’s scaling and investment by Insight Partners that valued the firm at $1.9 billion.
Barone also founded Execution Edge Consulting, which provided expertise to mid-market companies in e-commerce, business-to-business services, software-as-a-service technology and manufacturing. He served as president and COO of MDLive, a provider of telehealth, medical and behavioral services, and also worked as vice president of North America operations for eBay Enterprise.
“Stord’s vision of a cloud supply chain solution is a true paradigm shift for the industry, enabling a fully integrated, infinitely elastic and consistently optimized supply chain delivered as a scalable utility, in place of the currently inflexible, disconnected and expensive pieces currently plaguing brands,” said Barone. “I’m excited to join Stord in bringing this vision to life and making a difference for any brand requiring logistics services and technology.”
At eBay Enterprise, which merged with e-commerce company Innotrac in 2016 to form Radial, Barone was responsible for a $700 million fulfillment, transportation, customer care and omnichannel software business.
Prior to his time with eBay Enterprise, Barone served as senior vice president of client services at GSI Commerce, which he helped grow to $1 billion in revenue before the company’s acquisition by eBay Enterprise in a $2.4 billion deal.
“Stord has been in a period of immense hypergrowth as brands require more agile, connected and rapid fulfillment to increase customer satisfaction and their bottom line,” said Sean Henry, CEO and co-founder of Stord. “A relentless focus on creating value for customers is foundational to Stord. With Tom’s appointment, we look forward to aligning all of our go-to-market and external-facing functions, throughout the entire customer lifecycle, under a proven leader with vast experience across both technology and logistics and a deep understanding of today’s omnichannel brands.”
Barone joins a group of experienced executives at Stord, including Steve Swan, COO (formerly Amazon); Shyam Sundar, vice president of engineering (formerly Amazon, Zendesk and Mapbox); Bradley Weill, vice president of product (formerly Walmart and Apple); Sarah Feulner, vice president of people (formerly Bumble and ARM); Mark Satisky, interim CFO (formerly NCR); and Mario Paganini, vice president of marketing (formerly Shippo).
Stord’s year of news
Stord has been busy in 2022 as it scales its business amid a tight warehouse capacity market.
Earlier this month, Stord announced the inclusion of drayage, temperature-controlled fulfillment, custom packaging and e-commerce returns solutions to its Stord One Commerce platform.
The solution also includes warehousing and fulfillment, retailer compliance prep and value-added services such as kitting and labeling.
Stord One Commerce allows brands to piece together their various logistics technology across providers, eliminating siloed data and additional software implementations. Stord said the tech solution serves as a “digital glue” that acts as a control tower and connects all elements of a brand’s supply chain.
In July, Stord announced a partnership with Fresh Del Monte that opened excess space inside 22 Fresh Del Monte cold storage facilities across the U.S. to Stord customers. As of last fall, refrigerated and frozen foods accounted for 9% and 13%, respectively, of total e-commerce grocery sales. Henry told Modern Shipper at the time that Stord customers, as part of the agreement, would be able to leverage some of Fresh Del Monte’s logistics capabilities.
In June, Stord added 780,000 square feet of combined warehouse space in Las Vegas and Reno, Nevada, and in New Haven, Connecticut. The markets are part of Stord’s six-node first-party fulfillment network, which also includes Atlanta, Chicago and Dallas. Combined with more than 1,000 partner facilities, Stord is able to reach 99% of U.S. consumers in two days or less via ground shipping.
In May, Stord announced the closing of a $210 million Series D funding round with a final installment of $120 million. The first part of the round, $90 million, was announced in September 2021. The May funding was led by Franklin Templeton. The entire Series D included participation from new investors Sozo Ventures, Strike Capital and 137 Ventures, along with existing investors Kleiner Perkins, Founders Fund, Bond, Susa Ventures, Dynamo Ventures, Lux Capital and Salesforce Ventures.
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