Cart.com – a leading provider of comprehensive commerce solutions that enable merchants to sell and fulfill everywhere – recently announced it has raised a $60 million Series C equity funding round at a valuation of $1.2 billion.
The funding round includes participation from B. Riley Venture Capital, Kingfisher Investment Advisors, Snowflake Ventures, Prosperity7 Ventures, Legacy Knight, and other strategic corporate and financial investors. The company will use the new investment to meet increased demand from enterprise and B2B clients, accelerate its international expansion, and expand product development across its software portfolio.
Cart.com’s software, services and fulfillment offerings have been solving the staggering inventory, supply chain and promotional challenges multichannel commerce brands and large enterprises face in a fiercely competitive macroeconomic environment. And the company will continue to invest in the expansion of its software and artificial intelligence capabilities to enable even greater order and inventory control across the commerce value chain, powered by predictive and prescriptive analytics.
Cart.com has been building a next-generation commerce backbone unifying enterprise-grade software, expert services and digitally driven logistics capabilities that enable merchants to sell and fulfill on every channel. Last year, the company’s software powered over $5 billion in gross merchandise value, 140 million product listings, $10 trillion in product ads and 11 billion marketplace repricing events.
KEY QUOTES:
“We are proud to partner with this prestigious group of investors to accelerate our growth and continue to deliver best-in-class solutions to our customers. As a leading commerce software and services provider, we are focused on enabling our customers to compete and win across every channel through digital tools and digitally driven logistics capabilities. We will continue to invest in our industry-leading commerce data capabilities, which are built to address the specific inventory, channel and supply chain challenges facing enterprises.”
— Omair Tariq, CEO and Co-Founder of Cart.com
“Cart.com is driving the evolution of commerce and unlocking business value through unified data across the entire value chain. With Cart.com’s data processing and data storage in Snowflake’s Data Cloud, they can provide customers with new options to keep control of their own data and take full advantage of Snowflake’s data analytics and data-sharing capabilities. We look forward to continuing our shared commitment to innovation, growth and technology that delivers a competitive advantage in the market.”
— Harsha Kapre, Industry Principal for Retail Data & Technology at Snowflake Ventures
