Stord, a logistics and fulfillment company that competes with Amazon's services, has raised $250 million in funding at a $3 billion valuation, the company announced.

The Atlanta-based startup was founded in 2015 by Sean Henry, who serves as CEO, and Jacob Boudreau, the company's CTO. Both founders were college students at Georgia Tech when they launched the company.

Stord operates in the competitive fulfillment and logistics sector, where it provides warehousing and distribution services to businesses. The company positions itself as an alternative to Amazon's fulfillment services, offering third-party logistics solutions to retailers and e-commerce companies.

The funding round represents significant growth for the nine-year-old company, which has built its business around providing supply chain infrastructure to companies looking to compete with or reduce dependence on Amazon's logistics network.

The logistics technology sector has seen increased investor interest as more companies seek alternatives to established players like Amazon, particularly as e-commerce continues to grow and businesses look for diversified supply chain solutions.