Cart.com secures $180 million investment led by Springcoast Partners

Cart.com Inc., a commerce and logistics solutions provider, announced a $180 million growth equity investment led by Springcoast Partners. The Houston-based company said the funding will support expansion of its logistics network and artificial intelligence capabilities.

Springcoast Partners joins existing investors PayPal Ventures, Arsenal Growth Equity, Mercury Fund, and Oak HC/FT in the financing round. Cart.com operates a commerce platform that integrates technology, fulfillment infrastructure, and operational services for brands including TOMS Shoes, PacSun, and Janie and Jack.

"This investment will strengthen our balance sheet and provide us with the flexibility to accelerate our strategic priorities," said Omair Tariq, chief executive officer of Cart.com. The company plans to use the capital to develop workflow automation tools, predictive analytics, and AI solutions designed to route inventory and reduce shipping times.

Cart.com also intends to expand its nationwide fulfillment footprint and invest in infrastructure improvements. The company's platform enables brands to sell across digital channels while managing fulfillment and customer experience operations.

Russell Klein has been appointed to Cart.com's board of directors in connection with the transaction. Klein serves as an operating partner at Springcoast Partners and previously held the role of chief commercial officer at BigCommerce, helping scale the company from $30 million to more than $350 million in annual recurring revenue.

"The team at Cart.com has demonstrated excellence in their ability to scale efficiently while continuing to innovate," Klein stated. Springcoast Partners was established in 2023 as a New York-based growth equity firm focused on software and technology companies.

The information is based on a company press release statement.

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