Total amount raised
$759.2 Millions
Latest funding date
Location
Cart.com has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company offers a unified commerce platform that integrates various services from order management to logistics.
Keep reading to delve into the details of Cart.com's funding journey and the key investors supporting its growth.
What Is Cart.com?
Cart.com, founded in September 2020, is based in Houston, Texas. The company was established by Ed Sturrock, Jim Jacobsen, Omair Tariq, and Remington Tonar.
Cart.com provides a unified commerce platform that integrates services from order management to logistics, helping brands streamline their operations. Their offerings include omnichannel fulfillment, contract logistics, and comprehensive commerce software.
With a workforce of 1001-5000 employees, Cart.com supports over 6,000 customers, including well-known consumer brands and complex B2B organizations.
How Much Funding Has Cart.com Raised?
- Round Name: Series B
- Amount Raised: $240M
- Date: February 3, 2022
- Lead Investors: Legacy Knight
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology offerings.
- Round Name: Series B
- Amount Raised: $68.6M
- Date: March 31, 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and operational capabilities.
- Round Name: Series C
- Amount Raised: $60M
- Date: June 27, 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product offerings.
- Round Name: Debt Financing
- Amount Raised: $30M
- Date: December 21, 2023
- Lead Investors: Trinity Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To consolidate venture debt and support growth.
- Round Name: Debt Financing
- Amount Raised: $70M
- Date: January 18, 2024
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and enhance technology solutions.
- Round Name: Venture Round
- Amount Raised: $17.7M
- Date: March 27, 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and expand product offerings.
- Round Name: Series C
- Amount Raised: $25M
- Date: July 17, 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: $1.2 billion
- Motivation Behind the Round: To support growth and operational capabilities.
- Round Name: Debt Financing
- Amount Raised: $105M
- Date: July 17, 2024
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To consolidate venture debt and support rapid growth.
Total Amount Raised: $616.3M. Current Valuation: $1.2 billion.
Key Investors
- BlackRock
- Details: BlackRock is a global investment management corporation, known for its extensive portfolio and financial services. It manages assets for clients worldwide, including institutions, governments, and individuals.
- Investment Focus Areas: Equities, fixed income, real estate, alternative investments.
- Notable Investments: Technology, healthcare, financial services.
- Silicon Valley Bank
- Details: Silicon Valley Bank is a high-tech commercial bank that provides various financial services to high-growth companies. It is well-regarded for its support of the technology and life sciences sectors.
- Investment Focus Areas: Technology, life sciences, venture capital.
- Notable Investments: Early-stage and growth-stage technology companies, life sciences companies.
- Legacy Knight
- Details: Legacy Knight is an investment firm that focuses on providing capital to high-growth companies. It aims to support businesses with strong potential for market disruption.
- Investment Focus Areas: Technology, consumer goods, financial services.
- Notable Investments: Not publicly disclosed.
- Trinity Capital
- Details: Trinity Capital is a provider of venture debt and equipment financing to growth-stage companies. It focuses on supporting innovative businesses with flexible financing solutions.
- Investment Focus Areas: Technology, life sciences, clean energy.
- Notable Investments: Not publicly disclosed.
- BlackRock
- Details: BlackRock is a global investment management corporation, known for its extensive portfolio and financial services. It manages assets for clients worldwide, including institutions, governments, and individuals.
- Investment Focus Areas: Equities, fixed income, real estate, alternative investments.
- Notable Investments: Technology, healthcare, financial services.
What's Next for Cart.com?
Cart.com is poised to seize significant opportunities by expanding into new markets and enhancing its technology solutions, particularly the Constellation OMS offering. With a robust customer base of over 6,000 and the capacity to process 75 million orders annually, the potential for growth is substantial. The recent $105 million term loan from BlackRock underscores the confidence in Cart.com's ability to scale and innovate.
Future fundraising opportunities seem promising, given the company's impressive growth trajectory and the successful completion of recent funding rounds. However, challenges such as maintaining operational excellence and competing with other commerce and logistics providers remain. Adapting to the evolving needs of a diverse customer base will be crucial for sustained success.
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