Softbank Capital Infusion Takes E-commerce Firm Fabric’s Valuation to $1.5 Billion

E-commerce tech platform Fabric has announced that its valuation has reached $1.5 billion after the latest funding round led by SoftBank. Fabric is looking to make the most of the recent opportunities that have opened up in the online shopping space fueled by the pandemic. 

Some of the other investors that participated in the Series C round include Glynn Capital, Redpoint Ventures, Forerunner Ventures, and Norwest Ventures. 

Fabric provides a headless commerce platform as a service to merchandisers, sellers, and retailers to organize their e-commerce processes. The self-proclaimed “headless” e-commerce platform primarily separates the front and the back-end of e-commerce applications and websites. This gives them flexibility and faster page-loads to help them grow their business. 

SEE ALSO: MoxiWorks Completes Acquisition of Lead Nurturing Platform ActivePipe

Tech companies taking the IPO route

Over the past couple of years, a lot of tech companies have taken the IPO route and raised capital at a very high valuation as their services and products cater to the digital economy. 

In December, Rezolve landed a deal with $2 billion to go public in the U.S. The company did so by merging with a company that is backed by billionaire Betsy Cohen. 

Fabric’s clients and how the platform helps them

Some of Fabric’s clients include fast-food franchise McDonald’s Corp, The Honest Company Inc., and apparel retailer Chico’s FAS Inc. and more. 

The Washington-Seattle-based company’s software enables companies to personalize their website and also provides back-end technology for online payment transactions. 

Fabric has built the platform for large retailers who sell their products through multiple online channels. The platform allows retailers to perform operational tasks across their sales channels, minimizing duplicate activities. 

A set of features on Fabric’s website primarily focuses on enabling companies to manage their product information. Another bunch of features allows the retailer to manage inventory levels and logistics. The e-commerce platform also offers functions to manage a lot of operational tasks such as payment processing and more. 

What makes Fabric stand out from Shopify? The company says that its modular approach makes the difference providing them an edge over their competitors. 

How will Fabric utilize the funds from Softbank?

Fabric e-commerce will use the recently raised funds in the latest round to improve product development and enter new markets. 

In 2021, the e-commerce tech platform successfully raised $100 million in a Series B round that was led by private equity company Stripe. 

SEE ALSO: Audi and Aptiv PLC Invests $285 Million in Software Firm TTTech Auto

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Karandeep V

Karandeep V

Karandeep was born in Pune, Maharashtra, an upcoming metropolitan city in the Western region of India. While most members of his family are engineers, he had different ideas. He was more inclined toward exploring the non-technical aspects of a business, which is why he studied Bachelors of Business Administration at Symbiosis International University, Pune.  Having said that, his love for new and upcoming technologies remained intact, which is why he has written extensively about technology throughout his career. After a brief stint with a gaming company at the beginning of his career, he discovered that his love for writing was not temporary.  Being a tech geek, he always liked installing and playing around with new applications on his mobile devices and the home desktop. He was fascinated by how technology can simplify even the most mundane and complex tasks with just a few commands. He keeps a close eye on how businesses use different tools to streamline their operations to boost productivity and efficiency. At ToolsMetric, he writes product reviews that cover the main features and specifications of different enterprise applications. The sheer amount of innovation and hard work that goes into building these tech solutions is one of the reasons why Karandeep loves reviewing these tools. Besides product reviews, he also writes interesting news articles and blogs that track the latest developments in the tech industry.  When he is not writing, you can find him rooted to his seat playing video games, watching movies, or supporting his favorite football team. Since his childhood, he has always loved to travel and explore new places. Traveling is a major part of his life due to a myriad of reasons such as experiencing new cultures, food, and traditions. His other hobbies include playing football, cooking, and running.  You can find him on LinkedIn here.

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