The headless commerce software provider received a capital injection from SoftBank as the e-commerce space looks to be more flexible.
Fabric, a US-based e-commerce software provider, has received $140m in a series C round led by internet and telecommunications group SoftBank at a valuation of about $1.5bn.
Stripes, Forerunner Ventures, Redpoint Ventures, Norwest Venture Partners and Glynn Capital filled out the participants, helping lift the company to unicorn status.
Fabric provides headless commerce services, which decouple the frontend from the backend of e-commerce applications to offer more multichannel experiences through a suite of application programming interfaces (APIs). It claims to have achieved year-on-year revenue growth of 4.5-times in 2021.
The company plans to use the proceeds from the round to boost its geographical expansion and its product development for automation and intelligence technology.
Robert Kaplan, investment director at SoftBank Investment Advisers, the corporate’s subsidiary that manages its Vision Funds, is set to join Fabric’s board of directors in conjunction with the round.
As e-commerce sales exploded throughout the pandemic, the…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
