This news comes on the heels of its Series C round. The company plans to use the funds to support geographical expansion, particularly in Europe, the Middle East, and Africa. Here are the top-line bullets you need to know.
Fabric, a headless e-commerce platform provider, has raised $140M in a Series C round that drew participation from SoftBank Group, Forerunner Ventures, and Glynn Capital Management, among others.
HOW’S THE COMPANY PERFORMING?
- Washington-based Fabric enables brands and retailers to unify product, pricing, and order data across sales channels and deliver omnichannel e-commerce experiences to their customers.
- The company currently has 280 employees, up 6x from September 2020.
- Fabric has 60+ customers, including McDonald’s, Chico’s, The Honest Company, and TriMark.
- The company offers over 300 e-commerce APIs.
- In 2021, Fabric launched a B2B scalable commerce platform and saw its revenue grow 4.5x year-over-year.
Source: Fabric
WHY DOES THE MARKET MATTER?
- The global e-commerce market is expected to reach a value of $16.22T by 2027, growing at a CAGR of 22.9%, according to Meticulous Market Research.
- E-commerce adoption has increased considerably over the past year — in fact, e-commerce sales shot up 35% YoY in 2021, according to McKinsey. This has compelled retailers and brands to turn to e-commerce enablement tools to develop and enhance their digital properties.
- Given Amazon’s dominance in the online retail market, retailers are turning to solutions that enable them to differentiate their offerings through personalization, distinctive convenience, sustainability, and more.
