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Fabric becomes a unicorn following a USD 140 million Series C funding

Fabric becomes a unicorn following a USD 140 million Series C funding
Fabric becomes a unicorn following a USD 140 million Series C funding

Fabric, a pioneer in headless commerce, has reportedly raised USD 140 million in a Series C round which was led by Softbank, with added participation from Glynn Capital, Forerunner Ventures, and existing investors Norwest Ventures, Redpoint Ventures, and Stripes.

Now entering the prestigious unicorn club, Fabric is now valued at around USD 1.5 billion following the latest fundraising, which closed just 219 days after its previous Series B funding. The firm’s income has increased 4.5 times year over year in 2021 alone.

The Series C funds will be used to speed up product development processes, primarily through automation and intelligence, as well as global growth.

Notably, trillions of dollars have been moved online, with any company selling digitally is now required to prepare for a post-Covid world given the significantly different client expectations. Now that user experience has become paramount, companies and retailers have started providing modern, streamlined, and omnichannel experiences which are likely to expand significantly over the upcoming years.

It is also worth mentioning here that Fabric's collection of hundreds of powerful commerce APIs and robust API orchestration framework allows it to serve a wide range of business models, experiences, and managed service offerings across all channels and industry verticals.

Fabric Marketplace is also known to allow marketers to create seamless interactions with their customers, allowing them to offer their customers the things they want right now.

Faisal Masud, CEO of Fabric was quoted saying that the company looking forward to working with Softbank and other world-class investors and that this round will help Fabric to accelerate the product development & innovation. Fabric is the future of digital commerce, as seen by their new customers McDonald's, Chico's, TriMark, L'azurde, and The Honest Company.

As per sources, Fabric has recently added The Honest Company to its customer roster. The firm is a goal-oriented, digitally native brand focused on leading the clean lifestyle movement.

Source Credit:

https://www.prnewswire.com/news-releases/headless-commerce-leader-fabric-announces-140-million-series-c-funding-led-by-softbank-301489632.html

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Vinisha Joshi

Vinisha Joshi

Despite graduating with an engineering degree in electronics and communication, Vinisha Joshi chose the road less travelled, and decided to pursue her career in content writing . Currently, she pens down articles for cuereport.com and a few other distinguished news platforms, pertaining to business and finance.