Funding round
Cart.com Series A
Cart.com, which works in unified commerce and logistics solutions in Houston, raised $25M in a Series A round announced on 15 Apr 2021, led by Mercury Fund and Arsenal Growth. 4 firms took part. It is Cart.com's first venture round on record.
$25M
Amount raised
Not disclosed
Post-money valuation
4
Investors
2 leads
Valuation
What this round says about the price
Cart.com did not disclose a valuation in this round. It is Cart.com's first venture round on record, 1 year after it was founded in 2020. It is 3.7% of the $683M Cart.com has raised in the venture rounds on record. Cart.com raised again 4 months later: a Series B round of $98M in Aug 2021. Its next priced round, a Series C in Jun 2023, valued it at $1.20B.
Cart.com's funding rounds
Cart.com has 7 venture rounds on record and 1 other deal. This one is highlighted.
- Series A this round 15 Apr 2021, led by Mercury Fund and Arsenal Growth $25M
- Series B 11 Aug 2021, led by Oak HC/FT $98M
- Growth 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
Mercury Fund and Arsenal Growth led the round with 2 other firms.
Lead investors
- backs 43 venture-backed companies new investor
- backs 8 venture-backed companies new investor
Also in the round
- backs 29 venture-backed companies new investor
- Scarlet Venture Fund new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,699 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 2.1 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 28 Apr 2021 | $64M | not disclosed | Israel Growth Partners |
| Tech Companies | 5 Apr 2021 | $51M | not disclosed | Sompo Holdings, Inc. |
| Tech Companies | 26 Apr 2021 | $50M | not disclosed | Transformation Capital |
| Tech Companies | 14 Apr 2021 | $26M | $93M | nference |
| Tech Companies | 20 Apr 2021 | $25M | not disclosed | Northpond Ventures |
| Tech Companies | 22 Apr 2021 | $21M | not disclosed | Spark Capital |
| Tech Companies | 1 Apr 2021 | $21M | not disclosed | Addition |
| Tech Companies | 20 Apr 2021 | $20M | not disclosed | Altos Ventures |
Sources
Where this comes from
Reported by 3 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Cart.com raise in its Series A round?
Cart.com raised $25M in its Series A round, announced in Apr 2021.
Who led Cart.com's Series A round?
Mercury Fund and Arsenal Growth led it, with Moonshot Capital and Scarlet Venture Fund.
What was Cart.com's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,699 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $12M, and this round was 2.1 times the median.
Did Cart.com raise again after this round?
Yes: a Series B round in Aug 2021 of $98M.