Funding round
Cart.com Series B
Cart.com, which works in unified commerce and logistics solutions in Houston, raised $98M in a Series B round announced on 11 Aug 2021, led by Oak HC/FT. 18 firms took part. It is Cart.com's second venture round on record; the one before was a Series A in Apr 2021.
$98M
Amount raised
Not disclosed
Post-money valuation
18
Investors
1 lead
Valuation
What this round says about the price
Cart.com did not disclose a valuation in this round. It came 4 months after Cart.com's Series A. It is 14% of the $683M Cart.com has raised in the venture rounds on record. Cart.com raised again 6 months later: a Growth round of $240M in Feb 2022. 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 15 Apr 2021, led by Mercury Fund and Arsenal Growth $25M
- Series B this round 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
Oak HC/FT led the round with 17 other firms.
Lead investor
- Oak HC/FT backs 106 venture-backed companies new investor
Also in the round
- PayPal Ventures new investor
- Clearco new investor
- backs 12 venture-backed companies new investor
- backs 43 venture-backed companies new investor
- backs 5 venture-backed companies new investor
- backs 8 venture-backed companies new investor
- Raven One Ventures new investor
- backs 29 venture-backed companies new investor
- Discover Financial new investor
- Robinhood new investor
- Blinds.com new investor
- Uber new investor
- Bombas new investor
- backs 17 venture-backed companies new investor
- Montauk Ventures new investor
- Y Combinator backs 1,295 venture-backed companies new investor
- Sebastian Rymarz
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
1,003 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $31M, and this round was 3.2 times the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Nuro Tech Companies | 16 Aug 2021 | $940M | not disclosed | not named |
| Tech Companies | 12 Aug 2021 | $130M | $1.33B | Institutional Venture Partners and Insight Partners |
| Tech Companies | 2 Aug 2021 | $100M | not disclosed | VNV Global |
| Tech Companies | 31 Aug 2021 | $90M | not disclosed | Elysian Park Ventures |
| Tech Companies | 26 Aug 2021 | $85M | not disclosed | Sageview Capital |
| Tech Companies | 17 Aug 2021 | $75M | not disclosed | Tiger Global and Meritech Capital |
| Tech Companies | 24 Aug 2021 | $73M | $450M | Globis Capital Partners and World Innovation Lab |
| Athelas Tech Companies | 1 Aug 2021 | $72M | $1.50B | General Catalyst |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Cart.com raise in its Series B round?
Cart.com raised $98M in its Series B round, announced in Aug 2021.
Who led Cart.com's Series B round?
Oak HC/FT led it, with PayPal Ventures, Clearco, G9 Ventures, Mercury Fund and Valedor Partners and 12 more.
What was Cart.com's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
1,003 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $31M, and this round was 3.2 times the median.
Did Cart.com raise again after this round?
Yes: a Growth round in Feb 2022 of $240M.