The funding round was led by New York-based Left Lane Capital with participation from Ontario-based Shopify Inc., San Francisco-based SignalFire, New York-based Greycroft, Bel Air-based Act One Ventures and Venice-based Amplify LA.
The round brings Tapcart’s total funding to more than $65 million. The company plans to use the funding to expand its team and develop and launch new products.
“Tapcart helps merchants create mobile-first shopping experiences that customers love, reinforcing Shopify's mission to make commerce better for everyone,” Satish Kanwar, vice president of product acceleration at Shopify, said in a statement.
Founded in 2017, Tapcart works with Shopify-powered businesses to set up mobile apps using a “codeless drag-and-drop builder” to customize their user experiences, the company said.
Tapcart’s major clients include clothing retailer Fashion Nova, home goods company Pier 1 Imports Inc. and streetwear brands The Hundreds, Patta and Culture Kings.
As ecommerce soared, Tapcart boomed amid the pandemic.
In the past 12 months, Tapcart has transacted more than $1.2 billion in gross merchant value for the businesses that use it. The company said its recurring revenue tripled in 2020.
With the funding, Tapcart also plans to add new products like marketing automation and software development kits.
“Customers want and expect unique, engaging, and personalized shopping experiences,” Tapcart Chief Executive Eric Netsch said in a statement. “This is why Tapcart exists.”
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