Cart.com Secures $105 Million in Debt Refinancing From BlackRock
2024年7月17日 - 10:30PM
ビジネスワイヤ(英語)
Commerce and Logistics Unicorn Further
Strengthens Balance Sheet as It Continues to Scale
Cart.com (the “Company”), a leading provider of unified commerce
and logistics solutions that enable merchants to sell and fulfill
wherever their customers are, today announced it has secured a $105
million term loan facility provided by funds and accounts managed
by BlackRock (“BlackRock”). The latest facility, among other
things, consolidates Cart.com’s venture debt at competitive terms
as the Company continues its rapid growth trajectory.
“Cart.com is one of the fastest growing providers of commerce
and logistics solutions today and I’m excited to partner with
BlackRock as we continue to aggressively invest to help our
customers operate more efficiently,” said Cart.com Founder and CEO
Omair Tariq. “This latest facility allows us to further expand into
new markets while enhancing our innovative technology solutions,
particularly our Constellation OMS offering. It also underscores
our teams’ relentless work in driving operational excellence and
profitability as we continue to partner with larger and larger
customers across industries.”
Cart.com provides the physical and digital infrastructure that
unifies operations across channels and makes it easy for
multichannel merchants to win in a channel-rich world. The Company
offers a complete suite of tech-enabled logistics capabilities,
enterprise-grade channel and order management software and expert
services to simplify commerce for middle-market and enterprise
companies and public sector agencies. Cart.com supports over 6,000
customers and 75 million orders per year and operates 14
omnichannel fulfillment centers nationwide. This capital follows
the closing of a $25 million Series C extension round which brings
the Company’s Series C total to $85 million at a $1.2 billion
valuation.
"BlackRock is pleased to support Cart.com as it advances its
mission to unify digital and physical commerce infrastructure,"
said Keon Reed, Director at BlackRock. “This latest facility
underscores our confidence in the company’s differentiated product
offerings and financial strategy as it enters its next stage of
growth.”
ABOUT CART.COM
Cart.com is the leading provider of unified commerce and
logistics solutions that enable B2C and B2B companies as well as
public sector agencies to sell and fulfill wherever their customers
are. The company’s enterprise-grade software, services and
logistics infrastructure, including its own network of fulfillment
and distribution centers, are used by some of the world’s most
beloved brands and most complex organizations to unify commerce
operations across channels and drive more efficient growth.
For more information, please visit Cart.com and
LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20240716623616/en/
MEDIA:
Cart.com: media@cart.com