Cart.com, raises $60M in Series C round and becomes unicorn and raising it to a $1.2 billion valuation. This significant milestone is a testament to their dedication and perseverance in the e-commerce industry.
Cart.com has consistently demonstrated their commitment to providing exceptional e-commerce solutions, and their latest funding further strengthens their position in the market. We applaud their innovative approach and the value they bring to online businesses.
Cart.com said the valuation was nearly 50% higher with this round than its Series B extension funding raised in February 2022. Participating in the round were B. Riley Venture Capital, Kingfisher Investment Advisors, Snowflake Ventures, Prosperity7 Ventures, Legacy Knight and a group of other investors.
Though revenue in the global e-commerce market is forecasted to reach $3.65 trillion this year, the sector has had its share of ups-and-downs. Most shopping during the pandemic moved online, but once restrictions eased, consumers also eased back to in-person shopping trips. This not only halted some online growth, but the industry was also hit with a challenging macroeconomic environment and the addition of privacy restrictions.