Cart.com will finish the year with a big score for investment funds.
The Houston company provides ecommerce platform, fulfillment, marketing, customer service, and analytics software and services. It has received $30 million in funds from Trinity Capital Inc.
Cart.com focuses primarily on middle-market and enterprise companies and says it supports over $8 billion in gross merchandise value. I also says it operates 14 omnichannel facilities nationwide, totaling over 8 million square feet of space.
“We’re excited to add to our portfolio an innovative company that’s proving itself to be an indispensable commerce and logistics partner to a wide range of B2B, B2C and direct-to-consumer merchants,” says Trinity managing director, tech lending Ryan Thompson. “We look forward to playing an important role in supporting Cart.com‘s growth.”
Cart.com investment
In June, Cart.com raised $60 million to bring its valuation to $1.2 billion, the company says. The round included participation from B. Riley Venture Capital, Kingfisher Investment Advisors, Snowflake Ventures, Prosperity7 Ventures, Legacy Knight, and other strategic corporate and financial investors.
The latest investment is part of a larger $100 million debt refinancing that included Trinity and Silicon Valley Bank, a division of First Citizens Bank.
“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.
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