Cart.com intends to utilise the new capital for its global expansion push through investments in infrastructure, technology, and M&A.
Cart.com, a commerce platform and logistics network, has raised additional funding of $50 million and notched up a post-money valuation of $1.6 billion.
This includes financing from funds and accounts managed by BlackRock and Neuberger Berman, new backers such as eGateway Capital, as well as other venture capital firms, strategic investors and family offices. Since its founding, Cart.com has raised a total of $475 million.
The company intends to utilise the new capital for its global expansion push through investments in infrastructure, technology, and M&A. It will also support and enhance its platform with capabilities that enable customers to drive demand and grow profitably while navigating rapid marketplace change, including global trade disruptions resulting from evolving policy decisions.
“We are continuing our strong growth trajectory across all operating metrics, and we intend to utilise this additional capital to accelerate the expansion of our platform and bring our customers new capabilities to enable their growth,” said Omair Tariq, Founder and CEO at Cart.com.
“We founded Cart.com just four years ago and are well on our way to building the largest and most comprehensive platform in our space.”
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