Cart.com Announces $180 Million Strategic Investment Led by Springcoast Partners

New growth capital to help scale the company's logistics network and expand AI capabilities as it pursues sustainable, profitable growth

Cart.com, Inc. ("Cart.com" or the "Company"), a leading unified commerce and logistics solutions provider, today announced a $180 million growth equity investment led by Springcoast Partners ("Springcoast"). Springcoast is joining existing investors PayPal Ventures, Arsenal Growth Equity, Mercury Fund, and Oak HC/FT. The strategic investment provides Cart.com with additional growth capital to advance its proprietary software, deepen client investments, and continue pursuing operational efficiency improvements.

Cart.com operates a comprehensive commerce enablement platform, integrating enterprise-grade technology, fulfillment infrastructure, and operational expertise into a single solution. The Company supports brands and retailers, including TOMS Shoes, PacSun, and Janie and Jack, by enabling them to sell across digital and omnichannel environments while managing fulfillment, customer experience, and supply chain operations at scale.

"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. "We've built a platform that combines commerce software with a scaled logistics network, and we're just getting started. With long-term capital and aligned partners, we believe we can accelerate innovation across our platform, expand our AI capabilities, continue improving automation across our operations, and pursue sustainable profitability as we grow."

The financing will support continued development of Cart.com's commerce operating system, including workflow automation tools, predictive analytics, and agentic AI solutions designed to autonomously route inventory, reduce shipping times, and lower fulfillment costs for enterprise brands. The Company also plans to continue building out its nationwide fulfillment footprint and investing in infrastructure to help merchants navigate an increasingly demanding commerce environment.

"In an increasingly fragmented commerce landscape, Cart.com has differentiated itself by uniting enterprise software with physical logistics," said Evan Nawrocki, Principal at Springcoast Partners. "Their end-to-end offering and demonstrable ROI for enterprise customers makes them an outlier in commerce enablement technology. We're excited to partner with Omair and the team to drive the next phase of profitable growth."

In connection with the transaction, Cart.com has appointed Russell Klein to its board of directors. Russell Klein is an operating partner and executive-in-residence at Springcoast Partners. Prior to joining Springcoast, he served as Chief Commercial Officer at Commerce.com (NASDAQ:CMRC, fka BigCommerce)), which he helped scale from $30 million to more than $350 million in annual recurring revenue. During his tenure, he played a key leadership role in multiple financing rounds, drove the company's M&A strategy, co-led its IPO, and helped guide the business through its transition to sustainable profitability.

"The team at Cart.com has demonstrated excellence in their ability to scale efficiently while continuing to innovate," said Russell Klein. "I'm excited to join the board and support the company as it expands its AI-driven capabilities, deepens enterprise relationships, and further strengthens its position as a category-defining commerce and fulfillment platform."

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the Company's expected use of investment proceeds, anticipated growth, planned expansion of its logistics network and AI capabilities, expected operational improvements, and intentions regarding board appointments. These statements are based on the Company's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause actual results to differ include, but are not limited to, general economic conditions, competitive factors, changes in the regulatory environment, and the Company's ability to execute on its strategic initiatives. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

About Cart.com

Cart.com provides a unified e-commerce platform and logistics services that enable brands to sell across digital channels while managing fulfillment, operations and customer experience at scale. Headquartered in Houston, Texas, the Company operates fulfillment and warehouse facilities across the United States.

About Springcoast Partners

Established in 2023, Springcoast is a New York-based growth equity firm focused on partnering with market leading software and technology companies. To learn more about Springcoast, please visit www.springcoast.com.

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