Seattle e-commerce startup Fabric named veteran tech leader Mike Micucci as CEO.
Micucci founded GroupSwim, a business networking startup acquired by Salesforce in 2009. He then spent 11 years at the customer-relationship management giant, rising to become the CEO of Commerce Cloud, the company’s e-commerce platform.
Micucci most recently worked as the COO of Automation Anywhere, a San Francisco-based artificial intelligence and robotics company.
He takes over from Fabric CFO Wesley Pua, who acted as interim CEO after former CEO Faisal Masud transitioned out of the role in May.
“Returning to e-commerce feels both familiar and amazing. I’m honored to lead a powerhouse team of e-commerce disruptors backed by world-class investors,” Micucci wrote on LinkedIn. “This is my dream job!”
Fabric offers software, APIs, and other behind-the-scenes technology used by retailers and business-to-business brands for many aspects of online commerce, including pricing/promotion, inventory management, digital storefronts, and payments/checkout.
The company last year announced a $140 million Series C funding round, led by SoftBank, at a valuation of about $1.5 billion. The deal made Fabric one of a handful of “unicorns” in the Seattle region.
Fabric was founded in 2017 by Ryan Bartley and Shiv Agarwal, previously technology leaders at Staples. Masud, also a former tech leader at Staples, succeeded Agarwal as CEO in 2020.
Masud announced earlier this summer that he was stepping down as CEO. He remains on the board.
“Excited for Mike and the next chapter for Fabric,” Masud told GeekWire. “He’s an amazing hire for us.”
Former Fabric CFO Nevin Shetty was indicted earlier this year after allegedly funneling around $35 million in company funds to a crypto business he controlled. Shetty pled not guilty in May.
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