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Fabric raises $43 Million Series A Funding for development

15
Feb '21
Pic: Fabric
Pic: Fabric
Fabric, a headless commerce platform purpose-built for growth, has announced a $43 million Series A funding round led by Norwest Venture Partners, with additional participation from Redpoint Ventures and Sierra Ventures. Based in the US, Fabric is a force multiplier on retailers’ existing technology investments proven to grow digital revenue by up to 3x.

The investment, just months after announcing the company’s $9.5 million in seed funding, will be used to accelerate product development of its headless commerce platform, expand the Fabric team and meet the growing demand for its commerce technology. Scott Beechuk, partner at Norwest Venture Partners, will join the board of directors, Fabric said.

Fabric’s platform is an API-driven, modular system, built for how growing D2C and B2B brands, including ABC carpet & home, GNC, and Juicy Couture, need to scale. With Fabric, marketers and merchants can execute on creative decisions, without pulling in extensive engineering resources. Companies can utilise either the entire, extensive Fabric suite or incorporate specific tools into their existing system, including an Experience Manager (XM), Product Information Manager (PIM) and Order Management System (OMS). Unlike the traditional laborious processes required to modernise a brand’s e-commerce platform, Fabric takes only weeks to on-board, saving time and money, Fabric said in a media statement.

Following the successful launch of its cloud-native experience and commerce product suite in October 2020, with this latest round, Fabric is focused on expanding its product offerings, accelerating retailer on-boarding and workflow, continuing to meet the ever-changing needs of retailers and eliminating the need for re-platforming. The round will also go toward recruiting top talent, according to Fabric.

“Successful retail companies win today by differentiating their brand and delivering modern customer experiences. However, they are faced with inferior options; either compromise on commerce platforms that weren't built for their needs, or sell via Amazon and lose control of their brand and data. Fabric was built for growing D2C and B2B brands, and is run by industry veterans. We know what it takes to scale and want to end re-platforming in e-commerce,” Faisal Masud, CEO at Fabric said in a press release.

“E-commerce reached new heights in the past year and it's not slowing down, but too many D2C and B2B brands don’t have the right technology to capture the opportunity. With Fabric’s headless commerce platform, retailers can effortlessly extend the immersive in-store shopping experience to the digital world,” Scott Beechuk, partner at Norwest Venture Partners said.

Fibre2Fashion News Desk (GK)


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