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Cart.com hires finance exec Frank Parker as CFO, sets sights on public markets

Cart.com hires finance exec Frank Parker as CFO, sets sights on public markets

This article was originally posted to BizJournals on November 10, 2021

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Cart.com, one of the fastest-growing tech startups in Houston, named Frank Parker as its new CFO Nov. 9.

Parker brings nearly two decades of experience from e-commerce, logistics, technology and services firms, the company said. He joined Cart.com from New Jersey-based Managed Health Care Associates Inc., a health care services and software company, where he served as executive vice president of finance. Prior to MHA, Parker was CFO of global e-commerce for Connecticut-based Pitney Bowes (NYSE: PBI), where he managed teams responsible for finance, pricing, loss prevention and more.

Cart.com develops a suite of products to assist companies with scaling their digital presences, including offerings for online storefronts, payment processing, digital marketing, order fulfillment and more. Parker is charged with leading Cart.com's global expansion over the next six to nine months as the firm prepares to go public within the next two years.

"I've been privileged to work with some of the world's biggest and best tech, logistics and e-commerce operations, and I'm thrilled to now be joining the Cart.com family," Parker said. "The Cart.com team has already achieved extraordinary rapid growth as they've raised capital, completed key acquisitions and built out a game-changing one-stop e-commerce solution. I'm looking forward to helping sustain and expand that growth as we prepare for the company's next chapter."

It was not immediately clear whether Parker is the first CFO at Cart.com. The Houston Business Journal has reached out for more information.

Since launching in November 2020, Cart.com has raised more than $140 million, including a $98 million Series B funding round announced in August. Cart.com has also made seven acquisitions to grow its capabilities in e-commerce services, storage and fulfillment, digital marketing strategies and more.

Cart.com CEO Omair Tariq previously was COO of Houston-based Blinds.com, which was acquired by The Home Depot Inc. (NYSE: HD) in 2014. Jim Jacobsen, co-founder and executive chairman at Cart.com, previously served as CEO of Cypress-based outdoors retailer RTIC Outdoors.

"Frank brings invaluable breadth of experience leading global teams across a wide range of sectors, coupled with the financial acumen and high-level leadership that Cart.com needs as we prepare for our next phase of growth," said Tariq.

In October, Cart.com hired Sara Patterson as chief people officer tasked with developing the firm's talent acquisition strategy. She had previously worked as chief people officer for New York-based insurance startup Lemonade Inc. (NYSE: LMND) and as chief people officer for direct-to-consumer brand Bonobos, which was acquired by Walmart (NYSE: WMT) for $310 million.

In mid-September, Cart.com said it hired Randy Ray as the firm's first chief revenue officer. He oversees sales growth across Cart.com's entire portfolio of e-commerce services and software tools. Ray was formerly senior vice president at Minneapolis-based supply chain management company HighJump, now called Körber, and global vice president of sales at New York-based enterprise software firm Infor. He also spent nine years with Oracle Corp. (NYSE: ORCL), now based in Austin, rising to lead sales efforts across North America, Cart.com said.