Cart.com Announces $60M Series C and $1.2B Valuation
Gunderson Dettmer represented client Cart.com, the leading provider of comprehensive commerce solutions, in its $60 million Series C equity funding round bringing its valuation to $1.2 billion. The new capital, which includes participation from B. Riley Venture Capital, Kingfisher Investment Advisors, Snowflake Ventures, Prosperity7 Ventures and Legacy Knight, will be used to meet increased demand from enterprise and B2B clients, accelerate its international expansion, and expand product development across its software portfolio.
Cart.com enables merchants and enterprises to sell and fulfill everywhere and is among the fastest-growing commerce and logistics enablement leaders, with nearly 6,000 brands on its platform.
In the announcement of the transaction, Cart.com CEO and co-founder Omair Tariq said, “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. 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.”
The Gunderson Dettmer deal team was led by Wes Watts and included Luke Thomas and Emma Anderson.