Palo Alto – February 28, 2022 – Cooley advised Fabric, a leader in “headless” commerce “connecting every sales channel (head) to a single source,” on its $140 million Series C funding round, which brings the company’s valuation to $1.5 billion. Lawyers Josh Seidenfeld and Daniel Lee led the Cooley team advising Fabric.
The funding round was led by SoftBank Vision Fund 2, with participation from Forerunner Ventures and Glynn Capital, as well as existing investors Redpoint Ventures, Norwest Venture Partners and Stripes.
“This round will allow us to increase the velocity of our innovation and product development while we continue to create technology that, unlike our competitors, bends to the needs of our customers, not the other way around,” Faisal Masud, CEO of Fabric, said in a press release.
Headquartered in Seattle, Fabric is a key component of the modern commerce stack. By democratizing access to best-in-class digital commerce tooling, Fabric allows merchants who aren’t served well by hosted platforms to thrive in an ecommerce world. Customers trust Fabric for its open and modular design that allows them to be live within just a few months without having to replatform. Fabric also is a force multiplier on retailers’ existing technology investments, and has been proven to grow digital revenue by up to 300%.
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