Cart.com, an Austin, TX-based provider of commerce solutions that enable merchants to sell and fulfill globally, raised $60M in Series C funding, at $1.2 Billion valuation.
The round saw participation from B. Riley Venture Capital, Kingfisher Investment Advisors, Snowflake Ventures, Prosperity7 Ventures, Legacy Knight, and other corporate and financial investors.
The company intends to use the funds to invest in the expansion of its software and artificial intelligence capabilities, as well as to expand its business reach among B2B and enterprise customers.
Led by Omair Tariq, CEO, Cart.com is a commerce and logistics enablement company that enables merchants and enterprises to get order and inventory control across the commerce value chain, powered by predictive and prescriptive analytics. Services and logistics infrastructure enable customers to solve the inventory, supply chain and promotional challenges multichannel commerce brands and large enterprises face in a competitive macroeconomic environment.
The company has nearly 6,000 brands on its platform. In 2022, the software powered over $5 billion in gross merchandise value, 140 million product listings, $10 trillion in product ads and 11 billion marketplace repricing events.
FinSMEs
27/06/2023