Funding round
Cart.com Series C
Cart.com, which works in unified commerce and logistics solutions in Houston, raised $60M in a Series C round announced on 27 Jun 2023, led by B. Riley Venture Capital, at a $1.20B post-money valuation. 5 firms took part. It is Cart.com's fourth venture round on record; the one before was a Growth in Feb 2022.
$60M
Amount raised
$1.20B
Post-money valuation
5
Investors
1 lead
5.0%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Cart.com at $1.20B after the new money. The $60M bought investors about 5.0% of the company. It came 16 months after Cart.com's Growth. It is 8.8% of the $683M Cart.com has raised in the venture rounds on record. Cart.com raised again 6 months later: a Growth round of $30M in Dec 2023. Its next priced round, a Growth in May 2025, valued it at $1.60B.
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 3 Feb 2022, led by Legacy Knight Capital Partners $240M
- Series C this round 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
B. Riley Venture Capital led the round with 4 other firms.
Lead investor
- B. Riley Venture Capital new investor
Also in the round
- Kingfisher Investment Advisors new investor
- Snowflake Ventures new investor
- backs 48 venture-backed companies new investor
- Legacy Knight 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 and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
234 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 1.3 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cohere Tech Companies | 8 Jun 2023 | $270M | $2.20B | Inovia |
| Runway Tech Companies | 29 Jun 2023 | $141M | $1.50B | GV |
| Tech Companies | 29 Jun 2023 | $141M | $1.50B | not named |
| Tech Companies | 15 Jun 2023 | $109M | $353M | not named |
| Tech Companies | 27 Jun 2023 | $100M | not disclosed | Lightspeed Venture Partners |
| Tech Companies | 8 Jun 2023 | $88M | not disclosed | ICONIQ Growth |
| Tech Companies | 21 Jun 2023 | $75M | not disclosed | ICONIQ Growth |
| Tech Companies | 12 Jun 2023 | $67M | not disclosed | Koch Disruptive Technologies and Zimmer Partners |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Cart.com raise in its Series C round?
Cart.com raised $60M in its Series C round, announced in Jun 2023.
Who led Cart.com's Series C round?
B. Riley Venture Capital led it, with Kingfisher Investment Advisors, Snowflake Ventures, Prosperity7 Ventures and Legacy Knight.
What was Cart.com's valuation at the Series C round?
$1.20B post-money.
How does it compare with other Series C rounds in Tech Companies?
234 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 1.3 times the median.
Did Cart.com raise again after this round?
Yes: a Growth round in Dec 2023 of $30M.