Cart.com, a commerce solution provider, has announced it has raised 60 million dollars in a Series C equity funding round, bringing its valuation to 1.2 billion dollars.
The round saw participation from the likes of B. Riley Venture Capital, Kingfisher Investment Advisors and Snowflake Ventures, among other strategic corporate and financial investors.
Funds will be used to meet increased demand from enterprise and B2B clients, as well as accelerating the company’s international expansion and expanding product development.
Speaking on the investment, Cart.com CEO and co-founder, Omair Tariq, said: “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.”
Cart.com offers software, services and fulfilment solutions for multichannel commerce brands and large enterprises, for which it is looking to expand on its software and artificial intelligence capabilities to further enable greater order and inventory control.
In 2022, the company reported that its software powered over five billion dollars in gross merchandise value and 140 million product listings.