/Investor DB

Commerce Ventures

Venture capital

San Francisco · Pre-Seed–Series B · 16 people tracked

Also known as COMMERCE VENTURES MANAGEMENT, LLC

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Investment thesis

Commerce Ventures invests in companies shaping the future of retail and financial services, taking a narrow, sector-specific and deeply thematic approach. Its focus areas span what the firm calls the Commerce Continuum, including retail tech, payment tech, insurance tech, and banking tech. The firm leverages a sector-specific network to help portfolio companies find customers, distribution partners, advisors, and key executives. Themes are informed by the visions of entrepreneurs and the needs voiced by corporate executives in its network.

Source: firm website, verified Sep 29, 2026.

Stage
Pre-Seed–Series B
Check
$1M – $5M
HQ
San Francisco, CA, US
Leads rounds
Follows
Instruments
Equity
Founded
2013
Last 12 months
13 investments
AUM
$500M
VC funds
38
Tracked investments
174
Unicorns
5
IPOs
1
Acquisitions
6

Team · 16 people

from the firm's website & public directories

Founder mafia

3 people who came through Commerce Ventures went on to found or lead other companies.

What they invest in

from 143 of 174 portfolio companies

SaaS ×95Fintech ×83Enterprise Software ×62AI & Machine Learning ×51Data & Infrastructure ×16E-commerce ×16InsurTech ×15Retail Tech ×15

HQs:United States×98United Kingdom×4Indonesia×2India×2United Arab Emirates×1Argentina×1

Who they back

founder profiles across 73 portfolio companies
32%
solo founders
23 of 73 mapped founding teams
51%
repeat founders
of 94 founders with career history
~4 yrs
old at investment
median across 27 dated deals

Founding team size:solo founder×232 founders×303 founders×114+ founders×9

Where their founders studiedfrom 94 founders with education data

Stanford University ×6Cornell ×5Harvard Business School ×5University of Pennsylvania ×5Stanford University Graduate School of Business ×4University of California, Berkeley ×4Columbia Business School ×3NYU Stern School of Business ×3

What their founders studiedfrom 87 founders with field-of-study data

Computer Science ×22Business & Management ×19Economics ×16Finance & Accounting ×14Engineering ×11Mathematics & Statistics ×3Design & Architecture ×2Life Sciences ×2

Where their founders worked beforefrom 94 founders with career history

McKinsey & Company ×5Microsoft ×5Google ×4Circle Medical ×3Bain & Company ×2Fide Partners ×2Fiserv ×2Goldman Sachs ×2

Accelerator rootsportfolio companies that came through a program

Y Combinator ×11500 Global ×2

1 founders hold a PhD · 23 hold an MBA (of 98 with degree data)

Investments · 174 tracked

founders shown can be your intro path

By year:2026 · 92025 · 152024 · 112023 · 112022 · 122021 · 132020 · 42019 · 22018 · 52017 · 42015 · 32014 · 393 dated

Bill.com Holdings, Inc.bill.comin𝕏NYSE: BILLJun 2021

BILL is a unified financial operations platform that automates accounts payable, receivables, and spend management for businesses.

AI & Machine LearningEnterprise SoftwareFintechSaaSSan Jose, US

René Lacerte(Founder)inBora Chung(Executive Officer)inThomas J. Clayton(Executive Officer)inJohn R. Rettig(Executive Officer)inRajesh A. Aji(Executive Officer)Rene Lacerte(Founder)

Co-investorsAugust CapitalBling CapitalBYU Cougar Capitalcoreteq venturesCross Creek AdvisorsDCM Ventures+11 more

Card 91card91.ioin𝕏✓ verified

Card91 provides a payment issuance platform for banks and PPI (Prepaid Payment Instrument) license holders to create and manage customizable card programs and wallets, including digital, virtual, physical, NFC, and wearable cards.

Enterprise SoftwareFintechSaaS

Ajay Pandey(Founder)inFounding Team(Founder)Kush Srivastav(Founder)Shikhar Maini(Founder)Vineet Saxena(Founder)

Co-investorsPoint72 VenturesCore91.vcEmphasis VenturesInfinity VenturesRainmatterSabre Ventures Pvt Ltd

Constraforconstrafor.comin𝕏✓ verified

Constrafor provides a SaaS and fintech platform for general contractors and subcontractors to manage back-office operations, procurement, invoicing, and payments, with integrated AI-powered job costing and receivables financing capabilities.

Construction TechEnterprise SoftwareFintechSaaSNew York, US

Anwar Ghauche(Founder & CEO)in

Co-investorsFJ LabsNFXVillage GlobalFifth WallFinTech CollectiveClocktower Ventures+5 more

Kevelkevel.comin𝕏✓ verified

Kevel provides API-based ad-serving and audience technology for retailers, marketplaces, and other commerce leaders to build and scale their own retail media networks.

AdTechAI & Machine LearningRetail TechSaaSDurham, US

James Avery(Founder & CEO)in

Co-investorsFulcrumPilot Growth EquityCarnrite VenturesFulcrum Equity PartnersGreat Oaks Venture CapitalYork IE

Moovmoov.ioin𝕏✓ verified

Moov builds payments infrastructure software that enables businesses to embed payment processing capabilities into their products through direct connections to major payment networks.

Enterprise SoftwareFintechSaaS

Wade Arnold(Founder)inRobert Smith(Founder)inBob Smith(Founder)

Co-investorsAndreessen HorowitzAbstract VenturesB3 CapitalBain Capital VenturesCanapi VenturesCurql Collective, LLC+7 more

Relcurelcu.cominSeed · Aug 2025✓ verified

Relcu is an AI-driven platform for financial institutions that unifies lead management, omnichannel engagement (voice, SMS, email), pricing, marketing automation, and analytics for mortgage and deposit teams.

AI & Machine LearningFintechSaaS

Abhijat Thakur(CEO & Founder)inSergey Mamyan(Chief Technology Officer)inTrip Jendron(Product & Corporate Development)in

Co-investorsClocktower VenturesDetroit Venture PartnersMenlo VenturesMUFG Innovation Partners

Zealzeal.comin𝕏Oct 2024 · $15M✓ verified

Zeal is an embedded payroll and workforce payments platform for staffing companies, labor marketplaces, and workforce management tools.

FintechHR TechSaaSSan Francisco, US

Pranab Krishnan(Founder)inKirti Shenoy(Founder)inJonathan MairenaHenry Guillen(Founding Engineer)Alex Dees(Partner Growth Manager)Grace Turner(Lead Recruiter)

Co-investorsSpark CapitalBoxGroupCohen CircleLorimer VenturesY CombinatorAgrolimen Ventures+15 more

Billgobillgo.comin𝕏Series A · Jan 2024 · $34M

BillGO operates BillGO Exchange, a payments platform that converts paper checks into digital payments and aggregates them into a single self-service portal for reconciliation.

FintechSaaSFort Collins, US

Daniel W. Holt(Executive Officer, Director)Kenneth Wayne Allen(Director)Scott M. Miller(Executive Officer, Director)Stephen R. Biddle(Director)

BoardPeter J. Kight(Director)inLarry Mazza(Director)

Board seatDan Rosen· per SEC Form D

Co-investorsBankTech VenturesCaruso VenturesCohen CircleStructural Capital

Bloom Creditbloomcredit.ioin𝕏Sep 2023

Bloom Credit provides credit data infrastructure and APIs that let banks, credit unions, and fintechs access validated tri-bureau consumer credit data, furnish Metro2-compliant reports, and build credit-building products.

Data & InfrastructureFintechSaaSNew York, US

Corey KaplaninMatthew Harris(Executive Officer, Director)Mo G.(Founder)inChristian Widhalm(CEO)inMike Esler(CTO)inMatt Keleshian(COO)in

Board seatDan Rosen· per SEC Form D

Co-investors500 GlobalConnecticut InnovationsFlucas VenturesGaingelsKindred VenturesMana Ventures+1 more

InBox Health Corp.inboxhealth.comin𝕏Series A · May 2023 · $15M

Inbox Health provides automated patient billing and communication tools for medical practices and billing companies, sending customized billing messages via email, text, paper mail, or voice calls with follow-ups that adapt to patient interactions.

Digital HealthFintechSaaSNew Haven, US

Lawrence Walker(Executive Officer, Director)David Sturek(Director)Alphonse Ippolito(Executive Officer)

BoardMatthew D. Storeygard(Director)inSteven Piaker(Director)Vivek Krishnamurthy(Director)in

Board seatDan Rosen· per SEC Form D

Co-investorsAtento CapitalCollaborative FundConnecticut InnovationsHealthy VenturesLaunchCapitalMana Ventures+1 more

Kin Insurancekin.comin𝕏Jan 2024

Kin is a home insurance provider that offers both self-service and agent-assisted policy purchase and management for homeowners.

ConsumerFintechInsurTechChicago, US

Sean Harper(Founder)inLucas Ward(Founder)inSebastian Villarreal(Founder)inBret Bret HarperinJason Heidkampin

BoardEric Carlborg(Director)in

Board seatDan Rosen· per SEC Form D

Co-investors500 GlobalACTIVATE CAPITAL PARTNERSAlpha EdisonAugust CapitalAvanta VenturesBetter Tomorrow Ventures+27 more

Socuresocure.comin𝕏Nov 2021 · $450M

Socure provides an AI-driven platform for digital identity verification, fraud prevention, and risk decisioning, serving enterprises and government agencies across financial services, gaming, healthcare, e-commerce, and other sectors.

AI & Machine LearningCybersecurityFintechNew York, US

Johnny Ayers(Founder)in

BoardJohn F. Frankel(Director)inSunil Madhu(Founder)inAlessandro Piol(Director)Pavlo Protopapa(Director)Philip Eytan(Director)

Board seatDan Rosen· per SEC Form D

Co-investorsAccelAlpha PartnersAltaIR CapitalAmity VenturesBain Capital VenturesConnectivity Ventures+23 more

Adzerkadzerk.comJul 2021

Kevel (formerly Adzerk) provides infrastructure APIs that companies use to build their own custom ad platforms for sponsored listings, internal promotions, native ads, and retail media.

AdTechMarketing TechRetail TechSaaSDurham, US

JAMES AVERY(Executive Officer, Director)PETER HORAN(Director)PHILIP LEWIS(Director)TIM HUNTLEY(Director)JAMES DOUGLASS(Director)James Avery(Founder & CEO)

Co-investorsNat Turner

Arianeearianee.orgin𝕏May 2022 · $21M

Arianee provides an open-source blockchain protocol for issuing digital product passports and dynamic NFTs, letting brands assign unique digital identities to physical products for traceability, ownership, and post-purchase services.

Circular EconomyCrypto & Web3Retail Tech

Co-investorsIsaiISAI GestionMotier VenturesWind VentureAlvenBpifrance+3 more

Astradaastrada.coin

Astrada provides an API that connects platforms directly to card networks, letting employees enroll existing personal or corporate cards through an embedded widget so structured transaction data flows to the platform at authorization or clearing.

AI & Machine LearningData & InfrastructureFintechSaaS

Salman Syed(Founder)

Co-investorsVisa VenturesNycaNyca PartnersQED InvestorsBain Capital Ventures

Authenticauthenticinsurance.cominSep 2023 · $5.5M

Authentic builds technology infrastructure for specialized insurance programs, enabling brokers and carriers to develop tailored coverage for specific niches and classes.

Enterprise SoftwareInsurTechSaaSNew York City, US

Cole Riccardi(CEO & Cofounder)inKyle Babirad(COO & Cofounder)inSaravana Kumar(CTO)in

Co-investorsAltai VenturesClocktower VenturesCore Venture CapitalFirstMark CapitalMGV.VCSlow Ventures+8 more

Autobooksautobooks.coinMay 2025

Autobooks provides embedded banking technology to financial institutions to help them attract and retain small business customers by enabling business owners to manage finances and cash flow directly through their bank's digital platform.

Enterprise SoftwareFintechSaaSDetroit, US

Steven Robert(Executive Officer)inJohn Schmid(Executive Officer)Jeff Blackman(Executive Officer)in

Co-investorsBaird CapitalDraper TriangleInvest MichiganMissionOGDetroit Venture PartnersRunway Growth Capital

Baton Systemsbatonsystems.comin𝕏Jun 2018 · $12M

Baton Systems provides DLT-based post-trade infrastructure for automating and optimizing collateral management, intraday liquidity management, and payment-versus-payment (PvP) settlement for banks and financial market participants in the derivatives and FX markets.

Crypto & Web3Data & InfrastructureEnterprise SoftwareFintechFremont, US

Arjun Jayaram(Founder & CEO)inAndres Choussy(Executive Officer)inDavid Ornstein(COO)inLewis Kaden(Director)

BoardSchwark Satyavolu(Director)inMark Beeston(Director)in

Co-investorsAlsop Louie PartnersIlluminate FinancialTrinity Ventures

Betterdoctorquestanalytics.comin𝕏Jun 2014

Quest Analytics provides cloud-based software and services for healthcare provider network management, including its Quest Enterprise Services (QES) platform for measuring, monitoring, and modeling network adequacy, compliance, performance, and provider data accuracy.

Digital HealthEnterprise SoftwareHealthtechSaaSSan Francisco, US

Ari Tulla(Founder)inTapio Tolvanen(Founder)in

BoardMohamad Makhzoumi(Director)Jean-Francois Clavier(Director)inJaakko Kokko(Director)in

Co-investors500 GlobalHealth Catalyst CapitalKima VenturesLifeline VenturesMetaplanetTEXO Ventures+2 more

Bouncergetbouncer.comSeedAcquired

Bouncer provides a mobile software development kit that scans and verifies credit cards and photo identification documents.

Developer ToolsEnterprise SoftwareSan Francisco, US

Will Megson(Founder)inSam King(Founder)in

Co-investorsY CombinatorFirebolt Ventures Management Company, LlcKogito VenturesPioneerVenture Investment AssociatesWing

Bouncerusebouncer.comin𝕏

Bouncer is an email verification SaaS founded in 2017, providing tools that validate email addresses for businesses.

Data & InfrastructureMarketing TechSaaSSales Tech

Co-investorsKogito Ventures

Builder iobuilder.ioin𝕏

Builder.io provides visual development tools that enable teams to collaborate on software development through a plug-and-play approach.

Cloud ComputingDeveloper ToolsSan Francisco, US

Brent Locks(Co-founder & COO)inSteve Sewell(Founder)inMisko Hevery(Chief Technology Officer)inLindsay Brunner(Head of Communications)in

BoardMike Duboe(Board Member (Venture Partner, Greylock))in

Co-investorsGaingelsGood FriendsGreylock PartnersHabitat PartnersImaginary Venture CapitalInsight Partners+5 more

bumpedbumped.comJun 2018 · $11.5MAcquired

Bumped was a Portland, Oregon fintech offering a no-fee app that rewarded consumers with fractional shares of stock for purchases at partner brands, and provided similar stock-rewards infrastructure to banks and businesses.

Portland, US

DAVID A. NELSEN(Executive Officer, Director)

Co-investorsCanaan PartnersElevate CapitalOregon Venture FundPeninsula Ventures

Bureaubureau.idin𝕏

Bureau provides payment fraud prevention and account takeover detection technology for financial institutions and digital platforms.

AI & Machine LearningCybersecurityFintech

Ranjan R Reddy(Founder)inRanjan Reddy(Founder)

Co-investorsCore91.vcEmphasis VenturesGMO VenturePartnersQuona CapitalVillage GlobalXYZ Venture Capital+2 more

Canary Technologiescanarytechnologies.comin𝕏Series A · Feb 2022 · $15M

Canary Technologies provides digital management software for hotels, replacing traditional paper-based administrative and operational workflows used across the hospitality industry.

Enterprise SoftwareSaaSNew York City, US

Harman Narula(Founder)inSJ Sawhney(Principal)inBryan Michalis(Strategic Initiatives)Stuart Moncada(Vice President Product)Blake VanLandingham(Head of engineering)

Co-investors7BC Venture CapitalBrighton Park CapitalDERIVE VENTURESF-Prime CapitalG VenturesInsight Partners+13 more

Candexcandex.com

Candex provides a platform to manage vendor engagement, tracking, and payment for organizations, eliminating manual administrative overhead in procuring and paying service vendors.

B2B MarketplacesEnterprise SoftwareFintechSaaSNew York, US

Co-investorsCamp One VenturesCraft VenturesEdenred VenturesNFXPartech VenturesPROOF+9 more

Canopy Technology Corpcanopyservicing.comin𝕏

Canopy provides an event-driven, immutable lending core that companies use as a system of record or integration layer to build and manage business lending products.

Enterprise SoftwareFintechSaaS

Matt Bivons(Founder)Will Hanson(Founder)

Co-investorsCanaan PartnersFoundation CapitalHomebrewInfinity VenturesWestern Technology Investment75 & Sunny+6 more

Cardlesscardless.com

Cardless provides a modular credit card platform that allows companies to embed credit products directly into their applications and websites.

Enterprise SoftwareFintechSaaS

Michael Spelfogel(Founder)inScott Kazmierowicz(Founder)in

Co-investorsActivant CapitalAssurant VenturesClocktower VenturesDrive by DraftKingsGreat Oaks Venture CapitalGreycroft+13 more

Carefull Corporationgetcarefull.comin𝕏

Carefull provides a financial safety platform designed for families managing the financial complexities of aging, helping prevent fraud, scams, and financial mismanagement while enabling coordinated decision-making across family members and trusted financial institutions.

Digital HealthEnterprise SoftwareFintechWellness & Fitness

Max Goldman(Founder)inTodd Rovak(Founder)in

Co-investorsBessemer Venture PartnersLongevity Venture PartnersMarram VenturesNextView VenturesMontage VenturesSpringbank+1 more

Casapcasaphq.comin

Casap is an AI agent platform for dispute and fraud operations at financial institutions including banks, credit unions, and fintechs.

AI & Machine LearningEnterprise SoftwareFintechSaaSSan Francisco, US

Shanthi Shanmugam(Chief Executive Officer, Co-Founder)inSaisi Peter(Co-Founder)Saisi ​‌‌‍(Founder)

Co-investorsEmergence Capital PartnersGener8torLightspeed Venture PartnersPrimary Venture Partners

Cimulatecimulate.aiDec 2024

Cimulate is an LLM-based operating system for e-commerce that uses natural language understanding to model customer intent in real-time and drive conversion.

AI & Machine LearningE-commerceSaaS

Vivek Farias(Founder)John Andrews(Founder)

Co-investorsLFX Venture PartnersPillar VCSierra VenturesSpark Capital

Clara.com Clara.com Clara.comclara.comin𝕏Apr 2023

Clara Travel Pay is a corporate travel payment product that centralizes CTA and virtual card number (VCN) tools, generating single-use virtual cards for each reservation and connecting to travel management companies and global distribution systems.

AI & Machine LearningEnterprise SoftwareFintechSaaSTravel & Hospitality

Gerry Giacomán Colyer(Founder)inCaitlin Swift(Founder)inDiego García(Founder)Diego García Escobedo(Founder)George Favvas(Founder)inGerry Colyer(Founder)

Co-investorsA*Acrew CapitalAdapt VenturesAlter GlobalAvid VenturesBoxGroup+33 more

Class 8class8.comin𝕏

Class8 processes fleet telematics data from trucking companies to provide operational insights and management tools.

Data & InfrastructureEnterprise SoftwareIoTLogistics & Supply Chain

Co-investorsAlumni VenturesInspired CapitalNVP CapitalPanache VenturesResolute VenturesNewark Venture Partners+1 more

Clerqclerq.ioOct 2025 · $21M

Clerq is a payment platform that lets businesses accept guaranteed bank-account payments from customers in store or online, reducing card processing fees and chargeback risk.

FintechSaaSNew York, US

Truett Dwyer(Executive Officer, Director)inBenjamin Markowitz(Executive Officer, Director)

BoardAdam Nelson(Director)inNnamdi Okike(Director)in

Co-investors645 VenturesCoalition OperatorsFikaFirstMark CapitalDash FundFika Ventures

Clickswitchclickswitch.com𝕏Series A · Aug 2018 · $4M

ClickSWITCH, part of Q2, automates the process of switching direct deposits and recurring payments during digital account opening and onboarding for financial institutions.

Enterprise SoftwareFintechSaaS

Cale Johnston(Founder)Hank Seale(Founder)

Co-investorsPoint72 VenturesCohen Circle

CNotemycnote.comin

CNote is a cash management and fixed-income investing platform that channels deposits and investments into mission-driven financial institutions such as CDFIs, MDIs, and low-income designated banks and credit unions.

FintechImpact & Social Good

Catherine Berman(Founder & CEO)in

Co-investors37 AngelsAmerican Family Insurance Institute for Corporate and Social ImpactAstiaBand of AngelsBankTech VenturesBerkeley Angel Network+12 more

Coala Paycoalapay.orgin𝕏

Coala Pay simplifies cross-border money transfers for humanitarian aid organizations, delivering more local currency than traditional banking rates.

Crypto & Web3FintechImpact & Social GoodSaaS

Co-investorsCV VCFactor CapitalLattice CapitalReflexive CapitalCastle Island Ventures

Cognososcognosos.comSeries A · Sep 2017 · $7M

Atlanta, US

James A. Stratigos, Jr.(Director)Stephen Robb(Executive Officer)David Blau(Director)Peter Kight(Director)Sanjoy Malik(Director)

Co-investorsRiverwood Capital

Complifcomplif.comin𝕏Seed · Dec 2022 · $3M

Complif simplifies operational processes and reduces administrative burden for financial services institutions, enabling them to focus on growth and innovation.

Enterprise SoftwareFintechSaaSBuenos Aires, AR

Lucas Ranallo(Founder)inMathias Caramutti(Founder)in

Co-investorsFundersClubPioneerPrimary XY CombinatorPrimary Venture PartnersTheVentureCity+1 more

Conduitconduitpay.comin𝕏May 2025

Conduit provides payment infrastructure for fast, cross-border global transactions.

Developer ToolsEnterprise SoftwareFintechSaaS

Matt Zisow(Founder)Kirill Gertman(Founder)in

Co-investorsCore Venture CapitalDiagramDiscovery Ventures III Gmb H & Co. KGGaingelsGradient VenturesHelios Digital Ventures+17 more

ControlHubcontrolhub.comin𝕏SeedDefunct

ControlHub is a procurement software platform that automates purchase-to-pay (P2P) workflows for businesses, including requisition management, purchase order generation, approval workflows, and supplier management.

Enterprise SoftwareFintechSaaS

Rodrigo Santibanez(Founder)inLeonardo de la Cerda(Founder)in

Co-investorsBrainstorm VenturesMerus CapitalOpen Opportunity FundStartXUlu VenturesVentureSouq+8 more

Covrcovrtech.comin𝕏acquired by Optifino

Covr develops AI-powered digital platforms for life insurance sales and servicing, serving financial brands, advisors, and insurance carriers.

AI & Machine LearningFintechInsurTechSaaS

Co-investorsConnectivity VenturesContour Venture PartnersNeer Venture PartnersSony Ventures Corporation

Credit Mountaincreditmountain.coinSeed · Aug 2022 · $4M

Credit Mountain provides a white-labeled platform that converts a credit union's loan declines and adverse action notices into a "path back to approval," giving declined members plain-English explanations, a credit-improvement roadmap, and branded credit monitoring, then alerting the credit union when members are ready to reapply.

FintechSaaS

Co-investors412 Venture FundAUTHENTIC VENTURESCurql Collective, LLCEarly Light VenturesJHH vcNext Level Ventures+4 more

Crossmint, Inc.crossmint.comin𝕏

Crossmint builds developer tools that let companies, AI agents, and users work with blockchain and stablecoin rails without dealing with the underlying complexity.

Crypto & Web3Developer ToolsEnterprise SoftwareFintechSaaSNew York, US

Alfonso Gómez-Jordana Mañas(Founder)inRodri Fernández Touza(Founder)inAlfonso Gomez-Jordana(Founder)Rodri Fernandez(Founder)Rodrigo Fernandez Touza(Founder)

Co-investors6th Man VenturesAbstract VenturesBig Brain HoldingsFactionFinancial Venture StudioFirst Round Capital+15 more

Diestadiesta.co.uk

Diesta provides AI-driven reconciliation software for insurance companies, managing premium payments, bank transactions, and remittance matching across multiple payment channels.

AI & Machine LearningFintechInsurTechSaaSLondon, GB

Julian Schoemig Chris Davis(Founder)

Co-investorsAntlerRestive VenturesFinTech CollectiveSixThirty Ventures

Duplotryduplo.comin𝕏Seed

Duplo provides a financial platform enabling African businesses to manage local and international payments through multi-currency wallets, facilitating cross-border commerce across the continent.

B2B MarketplacesEnterprise SoftwareFintechSaaSLA, NG

Yele Oyekola(Founder)inTunde Akinnuwa(Founder)inEmeka Okwuagwu

Co-investorsAlumni VenturesGaingelsGlobivestManta International Consultancy S.A.LOui CapitalPioneer+18 more

EnFienfi.aiin

EnFi builds AI agents for commercial lending that automate the deal screening and underwriting workflow, including document collection, financial spreading, credit box matching, term sheet creation, credit analysis, and credit memo generation.

AI & Machine LearningFintechSaaSBoston, US

Scott Weller(Founder)inJoshuaJoshua Summers(Founder)Michelle Breitman Hipwood(Founder)Michelle Hipwood(Founder)

Co-investorsBoston Seed CapitalFINTOP CapitalUnusual VenturesPatriot Financial Partners

Estimote, Inc.estimote.com𝕏Seed

Estimote develops Ultra Wideband (UWB) tags and proximity sensors for precise indoor and outdoor location tracking, automation, and asset management across warehousing, logistics, healthcare, retail, and hospitality.

Developer ToolsEnterprise SoftwareHardwareIoTLogistics & Supply ChainKraków, PL

Jakub Krzych(CEO)inLukasz Kostka(CTO)inSteve Cheney(Founder)

Co-investorsActivant CapitalDG Ventures, Inc.FundersClubHomebrewJavelin Venture PartnersY Combinator+12 more

Extendpaywithextend.comin𝕏

Extend provides a virtual card issuing platform and spend management software that banks can offer to their business customers.

Enterprise SoftwareFintechSaaSNew York City, US

Danny(Co-founder)Daniel Morrow(Executive Officer, Director)Andrew Jamison(Executive Officer, Director)inGuillaume Bouvard(Founder)in

BoardGareth Jones(Director)Sami Ahmad(Director)

Co-investorsB Capital GroupB4 CapitalLightbankMarch Capital PartnersPlug and Play VenturesPoint72 Ventures+3 more

Extendextend.aiin𝕏Sep 2025 · $20M

Extend builds infrastructure that processes unstructured data at scale for applications in healthcare, real estate, insurance, and finance.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareNew York City, US

Kushal Byatnal(Founder)inEli Badgio(Founder)inAndrew Jamison(Founder)Danny Morrow(Founder)Guillaume Bouvard(Founder)Kushal Byatnal Eli Badgio(Founder)

Co-investorsBlue Trail PartnersHawk Hill VenturesHomebrewInvest In DataY CombinatorAmerican Express Ventures (Amex)+15 more

Extendextend.comin𝕏Sep 2025 · $20M

Extend provides product protection plans that merchants offer shoppers at checkout to cover product failures and accidental damage such as drops, breaks, and spills, handling repairs or replacements with online claims support.

E-commerceInsurTechRetail TechSaaS

Woodrow Levin(Founder)inJoe Moss(Founder)in

Co-investorsGraph VenturesGreatPoint VenturesLaunchpad CapitalPlug and Play VenturesSoftBank Vision FundB Capital+3 more

Fi Navigatorfi-navigator.comin𝕏Series B · Jul 2018 · $3M

FI Navigator provides a data analytics platform with performance, offering, technology, and personnel data on U.S.-based financial institutions.

Data & InfrastructureFintechSaaSSales TechAtlanta, US

Curry Pelot(Founder)inJ. Curry Pelot(Executive Officer, Director)Steven C. Cotton(Executive Officer, Director)

Fidelfidel.ukin𝕏

Fidel API provides financial infrastructure APIs that enable developers to build programmable experiences connected to real-time payment card transactions.

B2B MarketplacesData & InfrastructureDeveloper ToolsFintechSaaS

Fidel APIfidelapi.comin𝕏Apr 2022 · $65M

Fidel API provides a suite of financial infrastructure APIs that enable developers to build real-time, card-connected payment experiences for users and merchants.

B2B MarketplacesDeveloper ToolsFintechMarketing TechSaaS

Dev Subratain

Co-investors500 GlobalBain Capital VenturesRBCxCiti VenturesNyca PartnersQED Investors+1 more

Finaloopfinaloop.comin𝕏

Finaloop provides an AI-powered financial platform combining accounting software with oversight from dedicated accountants to deliver real-time accounting, inventory tracking, and finance operations, including reconciled P&L, balance sheet, cash flow, and SKU-level margins.

AI & Machine LearningE-commerceFintech

Yaron Revah(Founder)inEliran Azulai(Founder)Lio Pinchevski(Founder)Lioran Pinchevski(Founder)Omri Haim(Founder)

Co-investorsAccelAlephLightspeed Venture PartnersVesey VenturesIsrael Secondary Fund (ISF)Operator LP

Fleetopsfleetops.aiin

FleetOps, now rebranded as Class8, is a company operating in the transportation and logistics sector.

Logistics & Supply Chain

Co-investorsBCF VenturesXplorer CapitalGambit VenturesGood News VenturesHike VenturesInspired Capital

Flextractflextract.com

Flextract provides client onboarding tools for wealth management firms.

AI & Machine LearningEnterprise SoftwareFintechSaaS

Rajesh Jayaraman(Founder & CEO)Nick Blanchet(Co-founder & CTO)

Flipside Cryptoflipsidecrypto.xyzApr 2022 · $50M

Edisyl builds a semantic layer for enterprise data that encodes organizational understanding of metrics and data meaning, enabling AI tools to answer questions according to business logic.

AI & Machine LearningData & InfrastructureEnterprise SoftwareBoston, US

David Balter(Executive Officer, Director)in

BoardAdam D'Augelli(Director)inRalph Folz(Director)Shikar Ghosh(Director)

Co-investorsBitDAOBlockchain CoinvestorsCeras VenturesCollab+CurrencyDigital Currency GroupFounder Collective+17 more

Flipside Cryptoflipsidecrypto.comApr 2022 · $50M

Edisyl builds a semantic layer that encodes organizational understanding of data meaning, metrics definitions, and institutional knowledge to enable enterprise AI tools to answer questions aligned with business logic.

AI & Machine LearningData & InfrastructureEnterprise Software

Jim Myers(Founder)in

Co-investorsBoston Seed CapitalCoinbase VenturesConvergeF-Prime CapitalGalaxy VenturesM13+15 more

Flueidflueid.comSeries A · Feb 2021 · $7M

Austin-based Flueid provides verification of title (VOT) technology for residential real estate transactions.

Co-investorsAquiline Technology GrowthEastward Capital PartnersLiveOak Ventures

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Amore Holdings Topco LPMoov Financial1KontoCarefullInboxInterchecks TechnologiesKitman LabsLovelocalMulberry TechnologyOmnypayOmnywayPantasticPhrasetechPrecision GxPuzzl GroupQualtikSafeWireTelemetryTrizicZero Labs

Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.

Exits · 7

1 IPOs · 6 acquisitions · showing 2

Bill.com Holdings, Inc.NYSE: BILLCovracq. by Optifino

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Commerce Ventures made?
Commerce Ventures has 174 tracked investments, 7 of which have exited, including 27 dated in the last 24 months.
What stage does Commerce Ventures invest at?
Commerce Ventures invests at the Pre-Seed, Seed, Series A, Series B stages.
What is Commerce Ventures's typical check size?
Commerce Ventures typically writes checks of $1M – $5M.
What sectors does Commerce Ventures focus on?
Commerce Ventures focuses on E-commerce, Fintech, InsurTech, Marketplaces, Retail Tech.
Where is Commerce Ventures located?
Commerce Ventures is headquartered in San Francisco, US.
Does Commerce Ventures lead rounds?
Commerce Ventures typically participates in rounds rather than leading them.
Who does Commerce Ventures co-invest with?
Commerce Ventures most often shares deals with Y Combinator, Activant Capital, Clocktower Ventures, among 448 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Vivek Krishnamurthy, Commerce Ventures Partner on Fintech & Insurtech

Grace Gong · Vivek Krishnamurthy

Funding the Future: Dan Rosen, Founder and GP at Commerce Ventures

Front Lines Media · Dan Rosen

VC Requires Analytical Skills and Sharp People Insights - Dan Rosen, Commerce Ventures

Miguel Armaza · Dan Rosen

Advantages of Second-Time Founders - Dan Rosen, Commerce Ventures Founder

Miguel Armaza · Dan Rosen

What are the Qualities of a Great VC? - Dan Rosen, Commerce Ventures Founder

Miguel Armaza · Dan Rosen

Dan Rosen, Commerce Ventures Founder - Advantages of Repeat Founders & How to Build a Top VC

Miguel Armaza · Dan Rosen

Images

Commerce Ventures photo

Co-investors · 69

Andreessen Horowitz

Andreessen Horowitz (a16z) is a venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz, known for pioneering the platform model with a large team of operators supporting founders across stages.

$500K – $50M
Lightspeed Venture Partners

Lightspeed Venture Partners is a global venture capital firm that backs founders from Seed through Series F and beyond, emphasizing deep, immersive partnerships with the companies it invests in.

$1M – $5M
Citi Ventures

Citi Ventures is the corporate venture capital arm of Citi, based in Palo Alto with additional offices in New York, Shanghai, and Singapore. The unit makes equity investments and develops innovations that align with Citi's strategic priorities, working with both internal business units and external companies.

Bain Capital Ventures

BCV Labs is the platform and hands-on support arm of Bain Capital Ventures, providing portfolio founders with go-to-market strategy, brand development, hiring assistance, and customer introductions.

$1M – $100M
Point72 Ventures

Point72 Ventures is a venture capital firm that backs founders across sectors, providing insight, industry expertise, and network support. Since 2016 it has invested in more than 130 companies.

$1M – $75M
Scale Venture Partners

Scale Venture Partners is an early-stage venture capital firm that partners with AI companies, supporting their transition from founder-led growth to a scalable go-to-market operation.

$5M – $50M
QED Investors

QED Investors is a venture capital firm focused on financial services, founded by former Capital One executives to back founders bringing transparency and fairness to fintech.

$30K – $20M
Nyca Partners

Nyca Partners is a thesis-driven fintech venture capital firm that partners with founders modernizing the financial system.

$1M – $10M
G20 Ventures

G20 Ventures is an early-stage venture capital firm that backs new businesses with capital, storytelling support, and connections, with a focus on enterprise SaaS companies.

Both backed · 4
$2M – $5M
FinTech Collective

FinTech Collective is a venture capital firm partnering with founders building companies that reshape financial markets and reimagine money in a digital world.

$100K – $10M
Bessemer Venture Partners

Bessemer Venture Partners is a global venture capital firm that partners with entrepreneurs across enterprise, consumer, and healthcare sectors from early stages through growth.

$50K – $100M
B Capital Group

B Capital is a global investment firm backing early to late-stage technology innovators across technology, healthcare, and energy & resilience sectors.

$10M – $50M
▶57 more co-investors

Abstract VenturesPropel Venture PartnersOperator StackCurql Collective, LLCMenlo VenturesNorwest Venture PartnersGradient VenturesOak HC/FTFreestyle CapitalPICUS CAPITALRidge VenturesAltaIR CapitalMarch Capital PartnersMouro CapitalLobby CapitalMucker CapitalNewView CapitalEXPONENT FOUNDERS CAPITALBlueRun VenturesBroadhaven Capital PartnersConnecticut InnovationsHealthy VenturesSV AngelPelion Venture PartnersSpider CapitalFlourish VenturesWork-BenchFELIX CAPITALGrotech VenturesFlint CapitalLiveOak VenturesCathay InnovationArbor VenturesSandalphon CapitalThompson Hutton, LLCAvanta VenturesBenchmarkUnknown VenturesAccel-KKRUncorrelated VenturesChemistryPeakHighland Capital PartnersConvective Capital20VCmuru-DMiramar Venture PartnersLigature VCKindred CapitalJLL SparkEnergy Capital VenturesKaya FoundersStarframeEarthshot VenturesAlphaPrime VenturesMonroe CapitalNCT Ventures

Firms observed investing alongside Commerce Ventures, from public investor directories. Shared companies are the overlap with Commerce Ventures's recorded portfolio.

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