Cart.com, the first end-to-end ecommerce services provider, has 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. The round was led by Oak HC/FT, 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.
Also 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, as well as executives at Discover Financial, Robinhood, Blinds.com, and Uber.
“At Cart.com, we believe ecommerce brands should be free to scale up without having to juggle countless outside vendors, and without compromising their unique vision for their brand,” said Omair Tariq, CEO of Cart.com. “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.”
“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,” said Allen Miller, Principal at Oak HC/FT. “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.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.