Austin-based Cart.com, a unified commerce and logistics solutions provider, has secured $30 million in growth capital from Trinity Capital (NASDAQ: TRIN). The company, led by Founder and CEO Omair Tariq, aims to utilize the funds to scale its operations further.
“With Trinity’s financing, Cart.com will double down on investments that support the growing demand for innovative logistics and commerce infrastructure solutions that help our customers unlock more efficient growth,” said Cart.com Founder and CEO Omair Tariq.
Cart.com offers physical and digital infrastructure to streamline operations across various channels. With a client base exceeding 6,000 multichannel merchants, the company enables businesses to sell and fulfill orders seamlessly, regardless of their customers’ locations.
Impressive Growth and Valuation
The recent infusion of $30 million follows Cart.com’s announcement of a $60 million Series C equity funding round in June, valuing the company at $1.2 billion.
Notable participants in the funding round included B. Riley Venture Capital, Kingfisher Investment Advisors, Snowflake Ventures, Prosperity7 Ventures, Legacy Knight, and other strategic corporate and financial investors.
“In 2023, Cart.com reached unicorn status while growing revenue by 50 percent and achieving profitability. We’re excited to partner with Trinity, a proven and trusted provider of capital to growth-stage companies, to fuel our next chapter of profitable growth in the years to come,” said Omair Tariq.
This latest investment is part of a broader $100 million debt refinancing initiative involving Trinity and Silicon Valley Bank, a division of First Citizens Bank. Beyond fortifying Cart.com’s balance sheet, the capital injection strategically positions the company as it continues its ambitious scaling efforts.
Market Presence and Operations
Cart.com currently supports a substantial $8 billion in gross merchandise value and operates 14 omnichannel facilities across the United States, encompassing over 8 million square feet of space.
The company’s enterprise-grade software, logistics infrastructure, and fulfillment and distribution centers are leveraged by globally recognized brands and complex companies to unify commerce operations seamlessly.
With its comprehensive suite of solutions, Cart.com has become the go-to partner for B2C and B2B companies seeking to enhance their global presence. The company’s software, services, and logistics infrastructure are pivotal in unifying commerce operations and driving efficient growth for some of the world’s most beloved brands.
Paving the Way for Future Growth
Cart.com’s latest financial injection reinforces its position as a significant player in the unified commerce and logistics space. The funds will undoubtedly propel the company to new heights as it continues to empower businesses to navigate the complexities of modern commerce seamlessly.
“We’re excited to add to our portfolio an innovative company proving itself to be an indispensable commerce and logistics partner to a wide range of B2B, B2C and direct-to-consumer merchants,” said Ryan Thompson, Managing Director of Tech Lending at Trinity.
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