Cart.com announced a $98 mn Series B funding round

By Joy Dumasia

Cart.com, the first end-to-end e-commerce services provider, announced the close of a $98 million Series B round, bringing the company’s total funding since its launch eight months ago to more than $140 million. Oak HC/FT led the round, a premier venture growth equity fund investing in tech-enabled healthcare and financial services companies, with participation from PayPal Ventures, the venture capital arm of the global payments company.

Joining the round are Clearco, Raven One Ventures, G9 Ventures and prior investors Mercury Fund, Moonshots Capital, Valedor Partners, and Arsenal Growth. Other strategic investors in this round include Sebastian Rymarz, CEO of Heyday, Phillip Krim, CEO of Casper, and executives at Discover Financial, Robinhood, Blinds.com, and Uber.

The new financing will enable Cart.com to strengthen its eCommerce-as-a-Service (ECaaS) further fully integrated platform, which brings the entire range of eCommerce functions including storefront engine, payments, marketing and creative design, sales enablement, fulfilment, and customer service under a single umbrella.

Omair Tariq, CEO of Cart.com, said: “At Cart.com, we believe e-commerce brands should be free to scale up without having to juggle countless outside vendors and without compromising their unique vision for their brand. Our one-stop platform supports sellers across the full range of eCommerce functionality, empowering them to efficiently scale up and reach new markets using proven, best-of-breed services and technologies.”

Allen Miller, Principal at Oak HC/FT, commented: “Realizing the potential of a promising eCommerce brand is never easy, but Cart.com’s true full-service platform gives both startups and established brands the tools they need to succeed at scale. In the fragmented world of eCommerce, Cart.com’s unified platform puts merchants back in control of their business, empowering them to stay focused on their brand, product, and customers. We’re thrilled to be supporting their mission.”

Cart.com is the first end-to-end eCommerce solutions provider delivering a fully integrated and owned suite of software, expert services and infrastructure to scale businesses online.