RTIH Innovation Awards winner Cart.com secures $105 million in debt refinancing from BlackRock

Cart.com, a provider of unified commerce and logistics solutions, has secured a $105 million term loan facility provided by funds and accounts managed by BlackRock. The company says that the latest facility, among other things, consolidates its venture debt at competitive terms.

“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,” says 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 offers a suite of tech enabled logistics capabilities, enterprise grade channel and order management software and expert services.

It supports over 6,000 customers and 75 million orders per year and operates 14 omnichannel fulfilment centres across the US. The aforementioned 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," says 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.”

2022 RTIH INNOVATION AWARDS

Cart.com emerged victorious at the 2022 RTIH Innovation Awards, picking up the Startup of the Year gong.

Our 2022 winners were revealed at a sold out event in central London on Tuesday, 6th December 2022.

Our judging panel praised Cart.com for “enabling brands to optimise their product listings, pricing and traffic, as well as their channel strategy by leveraging AI’s predictive capabilities to show up on the channels where their customers are buying.”

RTIH Editor, Scott Thompson, said: “Innovation and technology play a critical role in the success of the retail sector, so it is great to recognise standout examples through our awards.”

“Thanks to all those who entered the 2022 event. We received a record number of submissions and many fantastic examples of the continued resilience and dynamism of the retail space during hugely challenging times.”

“Congratulations to our 2022 retail technology hall of fame entrants.”

2024 RTIH INNOVATION AWARDS

The sixth edition of the RTIH Innovation Awards is now open for entries.

The awards, sponsored by CADS, 3D Cloud, and Retail Technology Show 2025, celebrate global tech innovation in a fast moving omnichannel world.

This year, we’re bringing you three new categories: AI Innovation, Sustainable Retail Innovation, and Inclusive Technology Innovation.

Key 2024 dates

Friday, 25th October: Award entry deadline 

Tuesday, 29th October: 2024 shortlist revealed

30th October-6th November: Judging days

Thursday, 21st November: Winners announced at the 2024 RTIH Innovation Awards ceremony, to be held at RIBA’s 66 Portland Place HQ in Central London.