Carro, a Los Angeles CA-based cross-store selling and influencer commerce company, raised $20M in Series B funding.
The round was led by Alpha Edison, with participation from PayPal Ventures, GC1 Ventures and Corazon Capital.
The company intends to use the funds to accelerate growth, connect additional ecommerce platforms to their network, and expand its offerings to hundreds of thousands of brands, creators and influencers.
Led by David Perry, CEO, Carro provides an ecommerce application used by over 30,000 top-tier brands, retailers, creators, and influencers to sell more by working together. Its main service connects ecommerce stores together to facilitate cross-store selling, capturing new customers and revenue for customers through collaborative commerce.
Its Brand Partnership platform makes it easy for premium stores to sell each other’s products without having to purchase any inventory, handle logistics, or deal with returns. When a sale occurs, the order is sent directly to the brand that manufactures that product for fulfillment. They ship it as if it were a regular order from within their store. Both brands benefit from added exposure, new customers, and new revenue. Carro also helps brands discover which influencers already love their products from within their social networks and email ecosystems helping them to build authentic selling relationships.
The company now serves over 30,000 partners, including Blendjet, Arizona Iced Tea, Chubbies Shorts, Hint, NOBULL, Oatly, ZigZag, Fear of God, Rhone, BruMate, MUDWTR, Truff, Barstool Sports, Harney & Sons, Rachel Zoe, Curateur, Sommer Ray, Olive & Rain, Teddy & Bear, and many more.
FinSMEs
18/11/2021