Cart.com raises $60 million in latest funding round

Commerce solutions provider Cart.com announced it has raised $60 million in a Series C funding round, taking the U.S. firm ​to a pre-money valuation of $1.2 billion.

The round included participation from B. Riley Venture Capital, Kingfisher Investment Advisors, Snowflake Ventures, Prosperity7 Ventures, Legacy Knight, and other strategic corporate and financial investors. The Austin-based company said it 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.

“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,” said Omair Tariq, CEO and co-founder of Cart.com. 

“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.”

​Founded in November 2020, Cart.com is among the fastest-growing commerce and logistics enablement leaders, with nearly 6,000 brands on its platform. In 2022, the company grew revenue by more than 500% across its software, services and fulfillment offerings and doubled its gross merchandise value and fulfillment footprint.