Cart.com provides both physical and digital infrastructure to unify operations across channels, offering a complete suite of digitally driven logistics capabilities and enterprise-grade channels for middle-market and enterprise companies. The company currently empowers over 6,000 multichannel merchants to sell and fulfil orders anywhere their customers are, supporting over USD 8 billion in gross merchandise value.
Previously, in June 2023, Cart.com announced that it had raised USD 60 million in a Series C equity funding round at a valuation of USD 1.2 billion, with participation from B. Riley Venture Capital, Kingfisher Investment Advisors, Snowflake Ventures, Prosperity7 Ventures, Legacy Knight, and other strategic corporate and financial investors. This investment is part of a larger USD 100 million debt refinancing that included Trinity and Silicon Valley Bank, a division of First Citizens Bank.
As per an official statement, Trinity expressed its excitement about adding Cart.com to their portfolio as an innovative company that's proving to be an indispensable commerce and logistics partner to a wide range of merchants. In response, Cart.com explained that with Trinity's financing, the company will double down on investments that support the growing demand for innovative logistics and commerce infrastructure solutions that help its customers unlock more efficient growth.
Cart.com is an ecommerce platform that offers software, services, and fulfilment solutions for multichannel commerce brands and enterprises. The company plans to expand its software and artificial intelligence offerings, to provide its customers with greater control over ordering and inventory management. To achieve this, Cart.com will utilise predictive and prescriptive analytics.
The funding round from June 2023 saw an increase of nearly 50% in Cart.com’s evaluation from the previous Series B funding in February 2022. At the time, the ecommerce company extended its services to around 3,000 brands.
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