Headless commerce firm fabric announces $140m Series C funding round
fabric, a startup that provides a headless platform for e-commerce experiences, has closed a Series C funding round of $140 million led by Softbank Vision Fund 2, with participation from Forerunner Ventures, Glynn Capital and existing investors Redpoint Ventures, Norwest Ventures and Stripes.
This closely follows a Series B round and values fabric at approximately $1.5 billion.
“We truly appreciate the vote of confidence that Softbank and our other world class investors have in our vision, our execution and our experienced team,” says Faisal Masud, CEO at fabric.
“This round will allow us to increase the velocity of our innovation and product development while we continue to create technology that, unlike our competitors, bends to the needs of our customers, not the other way around. fabric truly is the future of digital commerce and our new customers Chico’s, McDonald’s, TriMark, L’azurde and most recently The Honest Company, are embracing it.”
Funds from the Series C round will be utilised for accelerating product development largely through automation and intelligence, and geographic expansion.
“Retailers need to meet modern consumers wherever they are – whether online, offline, mobile, social, or any future entry point. This means merchants of all sizes, and especially mid-market and enterprise, need the right commerce platform to keep pace with evolving trends,” says Robert Kaplan, Investment Director at SoftBank Investment Advisers.
“We believe that fabric has built the industry’s best API-first modular commerce platform and accompanying commerce applications to give merchants unrivaled power and flexibility, all in a manner that reduces the pain of migrating over from legacy, outdated commerce platforms."
