We believe that when companies work together, they succeed. For Carro, the core message has always been the same: we are stronger together. Today, we are proud to announce that the future of Collaborative Commerce is supported by a 20 million dollar Series B funding round!
We want to express deep gratitude to all of our merchants, creators, investors, and partners for making us what we are today. Thank you, we are here because of YOU!
We started Carro with our flagship Influencer Marketing product to facilitate authentic connections (and growth) between creators and brands. Then, amidst the global pandemic last year, we pivoted our product to create brand-to-brand connections with our cross-store selling product.
In 2020 and 2021, our merchants began to focus on overcoming supply chain issues and rising acquisition costs, so we focused on those issues with them. Though the Influencer Marketing product remains a core part of the Carro foundation, Cross-Store Selling is seeing explosive growth for brands amidst the current global state and climate.
Our network of brands has grown over 500% since early 2020 to over 30k Shopify Stores. Our hypothesis that collaboration is the future, is supported by some of the top D2C brands like Blendjet, Curateur, Fear of God, Oatly, Chubbies, and Rachel Zoe. The network continues to grow and we are here to support that growth.
We are proud to announce that the Series B round was led by Alpha Edison, with participation from PayPal Ventures, GC1 Ventures, Corazon Capital, and a number of individuals who use the Carro platform including high-profile influencers and retail executives. Our investors believe that collaboration will drive growth for the successful brands of the future.
The funding will be used to invest heavily in customer experience and to develop the largest collaborative network of premium brands.
The product roadmap and the direction of Carro will always be centered around enabling collaboration in order to foster growth and success. Thank you to all 30k of our merchants and their 7 million influencer connections for making Carro what it is today. The feedback and support drives our team.
And, for those of you who haven’t used Carro in a while OR have only used the influencer marketing product, we’d love to have you back. Carro is now a curated network of the best and premium brands on Shopify. You product can be sold alongside thousands of the top products available to the market and you could add those to your store today.
This is truly just the beginning. Buckle up, we’ve got lots in store.
With gratitude and excitement,
Co-Founder & President,
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