Fundraising Fox

Commerce Ventures

Venture capital

San Francisco · Pre-Seed–Late Stage · 20 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 Aug 25, 2026.

Stage
Pre-Seed–Late Stage
Check
$1M – $5M
HQ
San Francisco, CA, US
Leads rounds
Follows
Instruments
Equity
Founded
2013
Last 12 months
14 investments
AUM
$500M
VC funds
38
Tracked investments
132

Team · 20 people

from the firm's website & public directories
Rima Reddy· Principalin𝕏
Erika Hull· Senior Strategy Associate
Neelesh Satpute· Senior Associatein𝕏

What they invest in

from 115 of 132 portfolio companies

SaaS ×74Fintech ×69Enterprise Software ×47AI & Machine Learning ×44E-commerce ×14Data & Infrastructure ×12Retail Tech ×12InsurTech ×11

HQs:United States×76India×2Colombia×1United Kingdom×1Indonesia×1Israel×1

Who they back

founder profiles across 59 portfolio companies
53%
solo founders
31 of 59 mapped founding teams
56%
repeat founders
of 43 founders with career history
~4 yrs
old at investment
median across 11 dated deals

Founding team size:solo founder×312 founders×193 founders×64+ founders×3

Where their founders studiedfrom 45 founders with education data

Stanford University ×5Stanford University Graduate School of Business ×4Cornell University ×3University of Pennsylvania ×3Columbia Business School ×2Esade ×2Harvard Business School ×2Massachusetts Institute of Technology ×2

Where their founders worked beforefrom 43 founders with career history

McKinsey & Company ×3Fide Partners ×2

Accelerator rootsportfolio companies that came through a program

Y Combinator ×11

1 founders hold a PhD · 11 hold an MBA (of 45 with degree data)

Investments · 132 tracked

founders shown can be your intro path

By year:2026 · 72025 · 102024 · 42023 · 42021 · 22020 · 12018 · 22015 · 12014 · 132 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

Rene A. Lacerte(Executive Officer, Director)René Lacerte(Founder)inBora Chung(Executive Officer)Thomas J. Clayton(Executive Officer)John R. Rettig(Executive Officer)Rajesh A. Aji(Executive Officer)

Co-investorsAugust CapitalBYU Cougar Capitalcoreteq venturesCross Creek AdvisorsDCM VenturesEmergence Capital Partners+6 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)in

Co-investorsPoint72 VenturesEmphasis VenturesInfinity VenturesRainmatter

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-investorsNFXVillage GlobalFifth WallFinTech CollectiveFJ LabsClocktower Ventures+2 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 TechDurham, US

James Avery(Founder & CEO)

Co-investorsFulcrumPilot Growth EquityCarnrite VenturesFulcrum Equity Partners

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 ArnoldRobert Smith(Founder)inBob Smith

Co-investorsAndreessen HorowitzAbstract VenturesB3 CapitalCurql Collective, LLCDarco CapitalGradient Ventures+5 more

Relcurelcu.comin✓ 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 Ventures

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)in

Co-investorsSpark CapitalCohen CircleLorimer VenturesY CombinatorForm CapitalLong Journey Ventures

Amore Holdings Topco LPAug 2025SEC filingmedium confidence

New York, US

William Mitchell(Manager and Chief Executive Officer)

BoardAlexander Venino(Manager)Asif Ramji(Manager)Jeremy Schein(Manager)

Board seatDaniel J. Eckert· per SEC Form D · filed Aug 2025

Billgobillgo.comin𝕏Jan 2024

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 Creditbloomcred.itin𝕏Sep 2023

Bloom provides credit infrastructure and data APIs for financial institutions, fintechs, and platforms to make lending decisions and build credit-reporting tools.

Data & InfrastructureFintech

Board seatDan Rosen· per SEC Form D

Co-investorsResolute Ventures

InBox Health Corp.inboxhealth.comin𝕏May 2023

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 CapitalConnecticut InnovationsHealthy VenturesLaunchCapitalVertical Venture PartnersMana Ventures

Kin Insurancekin.comin𝕏Jan 2024SEC filingmedium confidence

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

InsurTechChicago, US

Sean Harper(Co-Founder and Chief Executive Officer)inLucas Ward(Executive Officer and Director)Bret Bret HarperJason HeidkampSebastian Villarreal

BoardEric Carlborg(Director)in

Board seatDan Rosen· per SEC Form D · $15M raise · filed Jan 2024

Co-investors500 GlobalACTIVATE CAPITAL PARTNERSAlpha EdisonAugust CapitalAvanta VenturesBetter Tomorrow Ventures+16 more

Moov FinancialOct 2025

Cedar Falls, US

David Wade Arnold(Executive Officer, Director)Robert L. Smith(Executive Officer, Director)Joel Tosi(Executive Officer)

BoardMatt Harris(Director)inAngela Strange(Director)in

Board seatDan Rosen· per SEC Form D

Co-investorsAndreessen HorowitzBain Capital Ventures

Socuresocure.comin𝕏Nov 2021

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

John Ayers(Executive Officer, Director)inPhilip Eytan(Director)Samuel Leinhardt(Director)Oscar Salazar(Director)

BoardJohn F. Frankel(Director)inSunil Madhu(Executive Officer, Director)in

Board seatDan Rosen· per SEC Form D

Co-investorsAccelAlpha PartnersAltaIR CapitalAmity VenturesConnectivity VenturesDeviation Capital+15 more

34grabango.com

Berkeley, US

Will Glaser(Founder)inWilliam Glaser(Executive Officer, Director, Promoter)

Co-investorsAurum Venture PartnersComet LabsCrunchFundPropel Venture PartnersRidge VenturesTuesday Capital+1 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 & CEO)

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 SoftwareInsurTech

Cole Riccardi(CEO & Cofounder)Kyle Babirad(COO & Cofounder)Saravana Kumar(CTO)

Co-investorsAltai VenturesClocktower VenturesCore Venture CapitalSlow VenturesUpper90Core Innovation Capital+2 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)John Schmid(Executive Officer)Jeff Blackman(Executive Officer)in

Co-investorsDraper TriangleInvest MichiganMissionOGRunway Growth Capital

Baton Systemsbatonsystems.comin𝕏Jun 2018

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)David Ornstein(COO)Lewis 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 HealthHealthtechSaaSSan Francisco, US

Mohamad Makhzoumi(Director)Ari Tulla(Executive Officer, Director)Jean-Francois Clavier(Director)Jaakko Kokko(Director)Tapio Tolvanen(Director)

Co-investorsHealth Catalyst CapitalLifeline VenturesMetaplanetTEXO VenturesUncork Capital

Bouncergetbouncer.comAcquired

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 Combinator

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(Co-founder & CEO)inMisko Hevery(Chief Technology Officer)Lindsay Brunner(Head of Communications)

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

Co-investorsGood FriendsGreylock PartnersHabitat PartnersImaginary Venture CapitalM12 (Microsoft's Venture Fund)Mango Capital+3 more

Bumpedbumped.com

Portland, US

DAVID A. NELSEN(Executive Officer, Director)

Co-investorsCanaan PartnersElevate CapitalOregon Venture Fund

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)in

Co-investorsEmphasis VenturesGMO VenturePartnersQuona CapitalVillage GlobalXYZ Venture CapitalGeneral Partnership

Canary Technologiescanarytechnologies.comin𝕏

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(Founder)in

Co-investors7BC Venture CapitalDERIVE VENTURESF-Prime CapitalInsight PartnersOyster VenturesY Combinator+2 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 VenturesNFXPROOFXG Ventures+6 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

Co-investorsCanaan PartnersHomebrewInfinity VenturesWestern Technology Investment

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)in

Co-investorsActivant CapitalClocktower VenturesGreat Oaks Venture CapitalGreycroftMischiefOperator Stack+4 more

Carefullcarefull.com

Co-investorsFin Capital

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(Co-CEO / Founder)Todd Rovak(Co-CEO / Founder)

Co-investorsBessemer Venture PartnersLongevity Venture PartnersNextView VenturesMontage VenturesSpringbankTTV Capital

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)Saisi Peter(Co-Founder)Saisi ​‌‌‍(Founder)

Co-investorsEmergence Capital PartnersPrimary Venture Partners

Claraclara.comin𝕏

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)in

Co-investorsA*Acrew CapitalAdapt VenturesAvid VenturesEthos VCEvolution Ventures+8 more

Class8class8.comin𝕏

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

Data & InfrastructureEnterprise SoftwareIoTLogistics & Supply Chain

Co-investorsInspired CapitalNVP CapitalPanache VenturesResolute VenturesNewark Venture PartnersXplorer Capital

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)Benjamin Markowitz(Executive Officer, Director)

BoardAdam Nelson(Director)Nnamdi Okike(Director)

Co-investors645 VenturesCoalition OperatorsFikaFirstMark CapitalDash FundFika Ventures

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

Co-investorsAmerican Family Insurance Institute for Corporate and Social ImpactAstiaBand of AngelsBankTech VenturesForefront VentureGolden Seeds+8 more

Coala Paycoalapay.orgin𝕏

Coala Pay provides a settlement layer and payment infrastructure for humanitarian and development aid programs, handling institutional grants, household cash transfers, frontline worker payments, and vendor settlements.

Crypto & Web3FintechImpact & Social Good

Co-investorsCV VCLattice CapitalReflexive CapitalCastle Island VenturesFactor Capital

Conduitconduitpay.comin𝕏

Conduit provides an API for embedding USD accounts, payments, wallets, and FX into other companies' products, with near-instant end-customer onboarding and automated KYB/AML compliance.

Developer ToolsFintechSaaS

Kirill Gertman(Founder)in

Co-investorsDiagramHelios Digital VenturesAltos VenturesBankless VenturesCoinbase VenturesCredibly Neutral+8 more

ControlHubcontrolhub.comin𝕏Defunct

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 FundUlu VenturesY Combinator

Covrcovrtech.comin𝕏acquired by Optifino

Covr provides digital insurance platforms that let financial brands, advisors, agents, carriers, and consumers sell and buy life, long-term care, disability, and supplemental health insurance across multiple carriers.

FintechInsurTechSaaS

Co-investorsConnectivity VenturesContour Venture PartnersNeer Venture PartnersSony Ventures Corporation

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 ToolsFintechSaaSNew York, US

Rodri(Co-founder)Alfonso(Co-founder)Alfonso Gómez-Jordana Mañas(Founder)Rodri Fernández Touza(Founder)in

Co-investors6th Man VenturesAbstract VenturesBig Brain HoldingsGMO VenturePartnersHash3 CapitalInformed Ventures Advisors, Llc+2 more

Duplotryduplo.comin𝕏

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)in

Co-investorsGlobivestOui CapitalPoint NineVibe CapitalWayfinder VenturesY Combinator+4 more

EnFienfi.aiin

EnFi builds multi-agent AI software for commercial lending workflows, converting unstructured documents into structured data for deal screening, underwriting, portfolio monitoring, and risk analysis.

AI & Machine LearningFintechSaaSBoston, US

Scott Weller(Founder)

Co-investorsBoston Seed CapitalFINTOP CapitalUnusual VenturesPatriot Financial Partners

Estimote, Inc.estimote.com𝕏

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(Founder/CEO)inLukasz Kostka(Founder/CTO)in

Co-investorsHomebrewJavelin Venture PartnersY Combinator

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

Andrew(Founder)Danny(Co-founder)Guillaume(Co-founder)Guillaume Bouvard(Founder)

Co-investorsB Capital GroupB4 CapitalLightbankMarch Capital PartnersPoint72 VenturesReciprocal Ventures+2 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)in

Co-investorsHawk Hill VenturesHomebrewY CombinatorB CapitalCharacterFinTech Collective+2 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 CapitalSoftBank Vision FundB CapitalFinTech Collective+2 more

Fi Navigatorfi-navigator.comin𝕏Jul 2018

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 a developer platform that securely connects to users' payment cards, captures purchases in real time, and triggers event-based rewards and loyalty experiences.

Developer ToolsFintechSaaS

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)in

Co-investorsAccelLightspeed Venture PartnersVesey VenturesAleph

Fleetopsfleetops.aiin

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

Logistics & Supply Chain

Co-investorsHike VenturesInspired Capital

Flextractflextract.com

Flextract provides software for financial advisory firms that automates client document collection, data extraction, and organization.

AI & Machine LearningFintechSaaS

Flipside Cryptoflipsidecrypto.xyz

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-investorsBitDAOCeras VenturesCollab+CurrencyDigital Currency GroupFounder CollectiveLightShed Ventures+5 more

Flueidflueid.com

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

Co-investorsEastward Capital Partners

Forterforter.comin𝕏

Forter provides identity intelligence and fraud prevention for digital commerce.

AI & Machine LearningE-commerceFintech

Michael(Co-founder)Liron(Co-founder)Alon Shemesh(Founder)Michael Reitblat(Founder)in

Co-investors11.2 CapitalActivant CapitalAngular VenturesArbor VenturesBessemer Venture PartnersFELIX CAPITAL+7 more

Forwardgetfwd.comin

Forward provides an embedded payments platform for SaaS companies, offering white-label payments sales, merchant onboarding, underwriting, compliance, developer tools, and settlement so software platforms can monetize payments.

Enterprise SoftwareFintechSaaS

Fountainfountain.comin𝕏

Fountain provides an applicant tracking system designed specifically for hiring hourly workers at scale.

AI & Machine LearningEnterprise SoftwareHR TechMarketplacesSaaSSan Francisco, US

Keith Ryu(Founder/CEO)in

Co-investorsB Capital GroupB4 CapitalBling CapitalCrosslink CapitalDCM VenturesFlucas Ventures+14 more

Fusefuse.co.idMar 2026 · $25M

Fuse provides a WhatsApp-based platform that enables insurance agents and partners to manage automobile insurance transactions, from quotations to policy issuance.

InsurTechSaaSJakarta, ID

Co-investorsAC VenturesGolden Gate VenturesLowercarbon CapitalFootworkNextView VenturesPrimary Venture Partners

Fuseletsfuse.cominMar 2026 · $25MDefunct

Fuse provides a single API layer that connects to multiple bank data providers like Plaid, MX, and Teller, automatically routing each bank to its most reliable provider and normalizing data across them.

FintechSaaSNew York City, US

Boateng Opoku-Yeboah(Founder)inLandon Vago-Hughes(Founder)Tunde Alao(Founder)in

Co-investorsY CombinatorFootworkLowercarbon CapitalNextView VenturesPrimary Venture Partners

Fusefuseinsight.cominMar 2026 · $25M

Fuse uses AI and automation to provide price transparency in US healthcare by determining accurate insurance benefits, detecting underpayments, and delivering cost estimates to patients before treatment.

AI & Machine LearningEnterprise SoftwareFintechHealthtechSaaSLondon, GB

Sho Sugihara(Founder)inOscar Wilsby(Founder)in

Co-investorsDelight VenturesTranspose Platform ManagementY CombinatorFootworkLowercarbon CapitalNextView Ventures+1 more

Greenboardgreenboard.cominMay 2026 · $15.5M

Greenboard provides compliance software for financial institutions to manage SEC regulations and maintain compliance programs.

AI & Machine LearningEnterprise SoftwareFintechSaaSNew York City, US

Dave Feldman(Founder)inEdward Schembor(Co-Founder / CTO)inAlex Stickelman(CCO & COO)

Co-investorsTranspose Platform ManagementWayfinder VenturesY CombinatorBase10 PartnersGeneral Catalyst

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 · 2

IPOs and acquisitions across the tracked portfolio

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 97 tracked investments, 1 of which have exited via acquisition or IPO, including 7 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, Series C, Growth, Late Stage 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, Clocktower Ventures, Activant Capital, among 342 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

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

Miguel Armaza · Dan Rosen

Advantages of Second-Time Founders - 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

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 – $25M
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
Lightspeed Venture Partners

Lightspeed is a global venture capital firm that has spent over two decades backing innovative companies as an early and first investor.

$1.7M – $87M
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.

$5M – $100M
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
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 – $25M
Propel Venture Partners

Propel Venture Partners is an early-stage venture capital firm that backs founders building companies for the new economy.

Both backed · 3
$500K – $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
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.

Both backed · 2
$500K – $50M
B Capital Group

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

Both backed · 2
$10M – $50M
PICUS CAPITAL

Picus Capital is a privately financed venture capital investor focused on early-stage technology ventures, having backed over 170 companies with a long-term, entrepreneur-aligned approach.

Both backed · 2
$100K – $300M
Abstract Ventures

Abstract is a San Francisco-based venture capital firm managing $1.8 billion in assets, investing in seed and early-stage companies across all sectors.

Both backed · 2
$250K – $750K
57 more co-investors

Ridge VenturesMarch Capital PartnersMouro CapitalLobby CapitalNyca PartnersNewView CapitalG20 VenturesHealthy VenturesOperator StackCurql Collective, LLCMenlo VenturesGradient VenturesOak HC/FTAltaIR CapitalCiti VenturesPelion Venture PartnersWork-BenchFELIX CAPITALMucker CapitalFlint CapitalArbor VenturesConnecticut InnovationsSandalphon CapitalAvanta VenturesBenchmarkSV AngelUnknown VenturesNorwest Venture PartnersFreestyle CapitalAccel-KKRUncorrelated VenturesChemistrySpider CapitalFlourish VenturesPeakHighland Capital PartnersEXPONENT FOUNDERS CAPITALBlueRun VenturesConvective Capital20VCmuru-DMiramar Venture PartnersGrotech VenturesLigature VCKindred CapitalBroadhaven Capital PartnersLiveOak VenturesCathay InnovationJLL SparkEnergy Capital VenturesKaya FoundersStarframeEarthshot VenturesThompson Hutton, LLCAlphaPrime 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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