fabric, a Seattle, WA-based headless commerce company, raised $140M in Series C funding.
The round, which and valued fabric at approximately $1.5 Billion, was led by Softbank, with participation from Forerunner Ventures, Glynn Capital, Redpoint Ventures, Norwest Ventures and Stripes. Concurrent with the funding, Robert Kaplan from Softbank will join fabric’s Board of Directors.
The company intends to use the funds to accelerate product development through automation and intelligence, and geographic expansion.
Led by CEO Faisal Masud, fabric is a key component of the commerce stack, which allows merchants who aren’t served well by Shopify, Oracle, or Salesforce (and other hosted platforms) to grow in the e-commerce world. Customers like Chico’s, McDonald’s, TriMark, L’azurde and The Honest Company, BuildDirect, GNC, and MSC use fabric for its open and modular design that allows them to be live within a few months without having to replatform.
The company recently launched fabric Commerce Platform for B2B which enables online sales transactions for manufacturing, distribution, or wholesale business with a complete, scalable ecommerce system.