Cart.com, a commerce solution provider, has successfully raised US $ 60 million in a Series C equity funding round. The funding round has boosted the company’s valuation to US $ 1.2 billion.
The newly acquired funds will be utilised to meet the growing demand from enterprise and B2B clients. Additionally, the company plans to accelerate its international expansion efforts and invest in product development. Cart.com aims to enhance its software and artificial intelligence capabilities to provide greater order and inventory control for multichannel commerce brands and large enterprises.
Omair Tariq, the CEO, and co-founder of Cart.com, expressed the company’s focus on enabling customers to compete and succeed across various channels using digital tools and digitally-driven logistics capabilities. He also highlighted the company’s commitment to strengthening its commerce data capabilities, specifically tailored to address the inventory, channel, and supply chain challenges faced by enterprises.
In 2022, Cart.com reported that its software powered over US $ 5 billion in gross merchandise value and facilitated 140 million product listings.
