Cart.com Closes $240M Equity and Debt Financing
Gunderson Dettmer represented client Cart.com, an end-to-end eCommerce platform, in the closing of its $240 million equity financing led by Legacy Knight Capital Partners and venture debt financing co-led by J.P. Morgan and TriplePoint Capital. In addition to the recent acquisitions, the new financings cap off a tremendous year of strategic growth that enables the company to prepare for an international rollout of its platform for online brands.
In the announcement of the transaction, CEO of Cart.com Omair Tariq said, “Cart.com's strategic growth underscores our status as the undisputed end-to-end eCommerce champion, giving today's top merchants the tech-driven edge and operational capabilities they need to grow fast and realize their full potential. With this new funding, we're poised to continue our strategy of acquiring top providers from across the eCommerce value chain, while staying hyper-focused on meeting the evolving needs of the brands we serve.”
The Gunderson deal team was led by Wes Watts and included Jay DelMonico, Samuel Willie, Alex Devine, Mike Peragine, and Muskan Mumtaz.