Commerce Ventures logo

Commerce Ventures

North America, California, United States, San Francisco

Description

Commerce Ventures is a San Francisco-based venture capital firm with a specialized focus on the FinTech, Retail & Brand, and InsurTech sectors. Established to capitalize on the digital transformation sweeping through these industries, the firm primarily invests in early-stage companies, typically from Seed to Series B rounds. Their investment thesis centers on identifying innovative technologies and business models that are poised to disrupt or significantly enhance the commerce ecosystem.

The firm is known for its hands-on approach, leveraging its deep industry expertise and extensive network to support portfolio companies beyond just capital infusion. Commerce Ventures seeks to partner with founders who are building scalable solutions in areas such as payments, lending, e-commerce infrastructure, supply chain optimization, and insurance technology. They often act as lead or co-lead investors, demonstrating a strong commitment to their portfolio companies' growth trajectories.

Since its inception, Commerce Ventures has built a substantial portfolio, having made over 150 investments across various stages and sub-sectors within their focus areas. This extensive activity underscores their position as a prolific investor in the commerce technology space. The firm continues to raise significant capital, with its latest fund, Commerce Ventures Fund V, targeting $150 million, indicating continued strong conviction in their investment strategy and market opportunities. Their typical initial investment ranges from $1 million to $5 million, allowing them to support promising startups from their formative stages.

Commerce Ventures' strategic focus allows them to develop a nuanced understanding of the unique challenges and opportunities within the FinTech, Retail, and InsurTech landscapes. This specialization enables them to provide targeted strategic guidance and operational support, fostering the success of their portfolio companies. Their consistent fundraising and broad investment activity reflect a robust and enduring presence in the venture capital ecosystem, particularly for companies innovating at the intersection of technology and commerce.

Investor Profile

Commerce Ventures has backed more than 189 startups, with 17 new investments in the last 12 months alone. The firm has led 17 rounds, about 9% of its total and boasts 19 exits across its portfolio.

Investment Focus Highlights

  • Concentrates on Series A, Seed, Series B rounds (top funding stages).
  • Majority of deals are located in United States, United Kingdom, India.
  • Strong thematic focus on FinTech, Financial Services, Software.
  • Led 1 rounds in the past year.
  • Typical check size: $1M – $5M.

Stage Focus

  • Series A (32%)
  • Seed (24%)
  • Series B (18%)
  • Series C (8%)
  • Series Unknown (6%)
  • Pre Seed (3%)
  • Series D (3%)
  • Series E (3%)
  • Convertible Note (1%)
  • Angel (1%)

Country Focus

  • United States (89%)
  • United Kingdom (2%)
  • India (1%)
  • Colombia (1%)
  • Israel (1%)
  • Canada (1%)
  • Brazil (1%)
  • Estonia (1%)
  • Australia (1%)
  • Argentina (1%)

Industry Focus

  • Fintech
  • Financial Services
  • Software
  • E-commerce
  • Finance
  • Information Technology
  • Payments
  • Saas
  • Retail
  • Artificial Intelligence (Ai)
circle-line
FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Commerce Ventures frequently co-invest with?

Two Sigma Ventures
North America, New York, United States, New York
Co-Investments: 7
Bain Capital Ventures
North America, California, United States, San Francisco
Co-Investments: 8
FinTech Collective
North America, New York, United States, New York
Co-Investments: 8
August Capital
North America, California, United States, Menlo Park
Co-Investments: 9
Scale Venture Partners
North America, California, United States, Foster City
Co-Investments: 7
IV
North America, California, United States, San Francisco
Co-Investments: 7
500 Global
North America, California, United States, San Francisco
Co-Investments: 8
Y Combinator
North America, California, United States, Mountain View
Co-Investments: 13
Clocktower Technology Ventures
North America, California, United States, Santa Monica
Co-Investments: 7
F-Prime Capital
North America, Massachusetts, United States, Cambridge
Co-Investments: 10

Which angels does Commerce Ventures often collaborate with?

PK
North America, Georgia, United States, Atlanta
Shared Deals: 4
GR
North America, California, United States, San Francisco
Shared Deals: 2
OD
North America, California, United States, Oakland
Shared Deals: 4
JW
North America, New York, United States, New York
Shared Deals: 3
WH
North America, California, United States, San Francisco
Shared Deals: 3
ML
North America, New York, United States, New York
Shared Deals: 2
EW
North America, California, United States, Los Angeles
Shared Deals: 2
CM
North America, New York, United States, New York
Shared Deals: 3
BD
North America, Utah, United States, Provo
Shared Deals: 2
CM
North America, New York, United States, New York
Shared Deals: 2

What are some of recent deals done by Commerce Ventures?

Canary Technologies

San Francisco, California, United States

Canary Technologies provides a digital guest management platform for hotels streamlining check-in, messaging, payments, and upsells.

Enterprise SoftwareHospitalityHotelProductivity Tools
Series DJun 12, 2025
Amount Raised: $80,000,000
GrailPay

New York, New York, United States

GrailPay’s embedded machine-learning risk analytics infrastructure safeguards ACH payments, so you can move money faster, safely.

Financial ServicesMobile PaymentsPaymentsRetail
SeedJun 11, 2025
Amount Raised: $6,700,000
PopID

Los Angeles, California, United States

PopID is a technology company that provides biometric authentication solutions for identity verification, payment, and access control.

BiometricsComputerFacial RecognitionIdentity ManagementSoftware
Series UnknownJun 4, 2025
Velocity

New York, New York, United States

Velocity provides a unified platform for efficiently moving and managing funds across both traditional banks and blockchains.

BlockchainFinancial ServicesFinTech
Pre SeedMay 28, 2025
Amount Raised: $10,000,000
Portless

Toronto, Ontario, Canada

Portless fulfills e-commerce orders directly from China to your customer's front door.

E-CommerceLogisticsTransportation
Series AApr 29, 2025
Amount Raised: $18,000,000
BloomCredit

New York, New York, United States

Bloom Credit helps companies launch valuable lending products, report consumers' payments, and create innovative credit experiences.

Developer APIsFinancial ServicesFinTechInformation TechnologyPaymentsPersonal Finance
Series UnknownApr 23, 2025
Amount Raised: $10,500,000
ReFiBuy

Raleigh, North Carolina, United States

ReFiBuy is building agentic solutions for retail/e-commerce's hardest problems

Enterprise Software
Pre SeedMar 13, 2025
Amount Raised: $1,700,000
Bureau

San Francisco, California, United States

Bureau is a no-code identity decisioning platform that facilitates end-to-end identity verification, compliance, and fraud prevention.

Cyber SecurityFraud DetectionIdentity ManagementRisk Management
Series BDec 18, 2024
Amount Raised: $30,000,000

Cimulate is a generative AI technology company revolutionizing commerce by optimizing the customer journey.

Artificial Intelligence (AI)E-CommerceE-Commerce PlatformsRetail Technology
Series ADec 18, 2024
Amount Raised: $28,000,000
Cardless

San Francisco, California, United States

Cardless operates the leading platform for consumer brands to launch credit card products.

Credit CardsFinanceFinTech
Series UnknownNov 26, 2024
Amount Raised: $30,000,000