Funding round
Cart.com Growth
Reported as "Growth Equity"
Cart.com, which works in unified commerce and logistics solutions in Houston, raised $240M in a Growth round announced on 3 Feb 2022, led by Legacy Knight Capital Partners. 5 firms took part. It is Cart.com's third venture round on record; the one before was a Series B in Aug 2021.
$240M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Cart.com did not disclose a valuation in this round. It came 6 months after Cart.com's Series B. It is 35% of the $683M Cart.com has raised in the venture rounds on record. Cart.com raised again 16 months later: a Series C round of $60M in Jun 2023, at $1.20B post-money.
Cart.com's funding rounds
Cart.com has 7 venture rounds on record and 1 other deal. This one is highlighted.
- Series A 15 Apr 2021, led by Mercury Fund and Arsenal Growth $25M
- Series B 11 Aug 2021, led by Oak HC/FT $98M
- Growth this round 3 Feb 2022, led by Legacy Knight Capital Partners $240M
- Series C 27 Jun 2023, led by B. Riley Venture Capital $60M$1.20B post-money
- Growth 21 Dec 2023 $30M
- Debt not a venture round 17 Jul 2024 $105M
- Growth 12 May 2025 $50M$1.60B post-money
- Growth 3 Mar 2026, led by Springcoast Capital Partners $180M
Investors
Who put money in
Legacy Knight Capital Partners led the round with 4 other firms.
Lead investor
- Legacy Knight Capital Partners new investor
Also in the round
- Citi Ventures new investor
- Visa new investor
- J.P. Morgan new investor
- backs 33 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
427 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 4.0 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Securonix Tech Companies | 15 Feb 2022 | $1.00B | not disclosed | Vista Equity Partners |
| RELEX Solutions Tech Companies | 17 Feb 2022 | $568M | $5.68B | Blackstone |
| Tech Companies | 1 Feb 2022 | $350M | not disclosed | K1 Investment Management |
| Branch Tech Companies | 10 Feb 2022 | $300M | $4.00B | New Enterprise Associates |
| Chargebee Tech Companies | 1 Feb 2022 | $250M | $3.50B | Tiger Global and Peak XV Partners |
| Tech Companies | 14 Feb 2022 | $200M | not disclosed | Spectrum Equity and 22C Capital |
| Tech Companies | 22 Feb 2022 | $150M | not disclosed | Tiger Global |
| Tech Companies | 15 Feb 2022 | $100M | $2.00B | Blackstone |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Cart.com raise in its Growth round?
Cart.com raised $240M in its Growth round, announced in Feb 2022.
Who led Cart.com's Growth round?
Legacy Knight Capital Partners led it, with Citi Ventures, Visa, J.P. Morgan and TriplePoint Capital.
What was Cart.com's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
427 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $60M, and this round was 4.0 times the median.
Did Cart.com raise again after this round?
Yes: a Series C round in Jun 2023 of $60M at $1.20B post-money.