Digital B2B Opps: Cart.com wraps up funding round, appoints new top marketer (Score 65)

Sales lead: Get in touch if you can offer ad space or agency assistance.

• Cart.com completed a Series C funding round worth $60m in June 2023.
• This brings the company's valuation to $1.2b. 
• It plans on using the funds to meet customer demand, expand internationally, and innovate its products. 

In other news:

• Rachel Truair, the CMO we told you about last year, has left the company.
• The company named its co-founder, Remington Tonar, chief communications officer to replace Truair.
• Tonar leads corporate marketing, communications, branding, PR, and investor relations. 

Target demographic: Businesses

The company will likely:

• Ramp digital spend back up
• Roll out new products
• Seek additional agency assistance

Digital and social insights (digital ad spend, effectiveness, impressions, and performance)

• YTD spend: Cart.com spent $13.3k on digital display ads YTD, a significant decrease from $136.4k spent in this channel during the same time period of 2022. 
• YTD data: 1.9m impressions via Facebook (90%) and Instagram (10%). 
• 2021-2022 spend: Full-year spend jumped from $32.6k in 2021 to $448.8k in 2022. 
• Ad location: It placed 100% of these ads directly onto facebook.com and instagram.com. 

Additional channel insights  

• Top podcasts sponsored: History Extra Podcast and Typology. 

Agency analysis:

• Opportunity: The company may use a portion of the new funding to build out its agency roster. 
• Current roster:
  • Berns Communications Group: PR AOR