Commerce Ventures

Commerce Ventures is a venture capital firm focusing on investments in the e-commerce, retail, FinTech, and Insurance sectors

ActiveVenture Capital

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Updated: Feb 17, 2026 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Feb 4, 2026	EnFi	$15.0M Series A	FINTOP Capital	Boston Seed Capital, Patriot Financial Partners, Unusual Ventures
Sep 1, 2025	Extend	$20.0M Venture Round	—	B Capital Group, FinTech Collective, Innovation Endeavors, March Capital, Momenta Ventures, Oak HC/FT, Piva Capital, Point72 Ventures, Reciprocal Ventures, WorldQuant Ventures, Derrick Li, Konstantin von Unger, Scott Belsky
Sep 1, 2025	Inbox Health	$20.0M Venture Round	—	Adverb Ventures, Chloe Sladden, C2 Investment, Catapult Capital, Connecticut Innovations, Convective Capital, Expa, Greylock, Healthy Ventures, Innovation Endeavors, Kleiner Perkins, Quiet Capital, Softbank Group, Thrive Capital, TY, Aaron Levie, Bradley Horowitz, Jim Pitkow, Marc Benioff
Sep 1, 2025	Kin Insurance	$50.0M Series E	—	Alex, Avanta Ventures, Better Tomorrow Ventures, Bora&Sons, Flourish Ventures, Geodesic Capital, Hercules Capital, Infinite Niches, JLL Spark, Ligature, Lobby Capital, Picus Capital, QED Investors, Runway Growth Capital, Sandalphon Capital, Vouch Insurance, Chad Nitschke, Francisco Larrain, John M. Mueller, Jonathan Gheller, Sahin Boydas, Sung ho Choi
Sep 1, 2025	Accordance	$3.0M Seed	—	B Capital Group, FinTech Collective, General Catalyst, Innovation Endeavors, Khosla Ventures, March Capital, Oak HC/FT, Point72 Ventures, Reciprocal Ventures, WorldQuant Ventures, Derrick Li, Scott Belsky
Sep 1, 2025	Hero Assistant	$4.0M Seed	—	Andreessen Horowitz, Basis Set Ventures, B Capital Group, FinTech Collective, Hoxton Ventures, Innovation Endeavors, Lightspeed Venture Partners, March Capital, Brooke Seawell, Northzone, Oak HC/FT, Point72 Ventures, Reciprocal Ventures, Seven Seven Six, WorldQuant Ventures, Akin Babayigit, Arash Ferdowsi, Derrick Li, Ime Archibong, Julie Zhuo, Mandeep Singh, Max Mullen, Scott Belsky
Aug 1, 2025	Accordance	$10.0M Seed	—	B Capital Group, Drive Capital, FinTech Collective, Innovation Endeavors, Khosla Ventures, March Capital, Oak HC/FT, Point72 Ventures, Reciprocal Ventures, WorldQuant Ventures, Nkechi Iregbulem, Scott Belsky
Jun 1, 2025	Profound	$20.0M Series A	—	B Capital Group, FinTech Collective, G2VP, Innovation Endeavors, Insight Partners, IVP, Kleiner Perkins, March Capital, Oak HC/FT, Point72 Ventures, Quiet Capital, Reciprocal Ventures, Renegade Partners, Scale Venture Partners, WorldQuant Ventures, Derrick Li, Scott Belsky, Vivek Patel, Guillermo Rauch
Jun 1, 2025	Extend	$17.0M Series A	—	Accel, B Capital Group, Coatue, Designer Fund, Felicis Ventures, FinTech Collective, Flex Capital, Innovation Endeavors, Lightspeed India Partners, March Capital, Oak HC/FT, Shailendra Singh, Point72 Ventures, Preston-Werner Ventures, Reciprocal Ventures, Sequoia Capital, Todd and Rahul's Angel Fund, WorldQuant Ventures, Y Combinator, Augusto Marietti, Ben Tossell, Christian Reber, Christopher Golda, Derrick Li, Guillermo Rauch, Kevin Weil, Koen Bok, Mario Götze, Niklas Jansen, Scott Belsky
Mar 1, 2025	Norm AI	$48.0M Series A	—	Abstract Ventures, Alliance of Angels, Andreessen Horowitz, Atreides Management, Bain Capital Ventures, Bold Capital Partners, Chemistry VC, Creative Juice, Curie.Bio, Exponent Founders Capital, Gradient Ventures, Khosla Ventures, Kindred Capital VC, Lightspeed Venture Partners, NFX, Operator Partners, The Community Fund, Uncorrelated Ventures, Gokul Rajaram, Jason Henrichs, Mark Cuban, Mengxi Lu, William Hockey
Mar 1, 2025	ReFiBuy	$2.0M Seed	—	G20 Ventures, Magma Partners, Ravelin Capital, Shaan's All Access Fund, Tribe Capital, Anthony Pompliano, Paul Rabil, Sam Parr
Oct 1, 2024	Pacific Fusion	$900.0M Series A	—	Addition, Adverb Ventures, Alumni Ventures, Andreessen Horowitz, Chloe Sladden, Bond, C2 Investment, Catapult Capital, Contrary Capital, DST Global, Expa, Floodgate, gener8tor, General Catalyst, Gradient Ventures, Greylock, Haystack, Idealab, Infinite Niches, Initialized Capital, Innovation Endeavors, Jetstream, Khosla Ventures, Kleiner Perkins, Lakestar, LGF, Long Journey Ventures, Lux Capital, Matrix, Mohamad Makhzoumi, Next Level Ventures, Quiet Capital, Rethink Education, Saga, Sherpalo Ventures, Softbank Group, Sound Ventures, SV Angel, The Hit Forge, Thrive Capital, Tribe Capital, Venture Highway, Aaron Levie, Anne Wojcicki, Bradley Horowitz, Dylan Field, Elad Gil, Emil Michael, Gokul Rajaram, Henry Kravis, Immad Akhund, Jim Pitkow, Kunal Shah, Mandeep Singh, Manik Gupta, Marc Benioff, Mato Peric, Max Mullen, Nico Rosberg, Omid Ashtari, Scott Banister, Tony Xu
Oct 1, 2024	Flueid	$8.0M Venture Round	—	FirstMark Capital, LiveOak Venture Partners, Pareto Holdings, Vertical Venture Partners, Gregory Waldorf
Aug 1, 2024	Companion Protect	$20.0M Series A	—	Alex, Avanta Ventures, Better Tomorrow Ventures, Bora&Sons, Flourish Ventures, Geodesic Capital, Hercules Capital, Infinite Niches, JLL Spark, Ligature, Lobby Capital, Picus Capital, QED Investors, Runway Growth Capital, Sandalphon Capital, Vouch Insurance, Chad Nitschke, Francisco Larrain, John M. Mueller, Jonathan Gheller, Sahin Boydas, Sung ho Choi
Jun 1, 2024	Norm AI	$27.0M Series A	—	Abstract Ventures, Andreessen Horowitz, Atreides Management, Bain Capital Ventures, Chemistry VC, Creative Juice, Curie.Bio, Exponent Founders Capital, Gradient Ventures, Kindred Capital VC, Lightspeed Venture Partners, NFX, Operator Partners, The Community Fund, Uncorrelated Ventures, Gokul Rajaram, Jason Henrichs, Mark Cuban, Mengxi Lu, William Hockey
May 1, 2024	Forward	$16.0M Seed	—	Abstract Ventures, Andreessen Horowitz, Atreides Management, Bain Capital Ventures, Chemistry VC, Creative Juice, Curie.Bio, Exponent Founders Capital, Gradient Ventures, Kindred Capital VC, Lightspeed Venture Partners, NFX, Operator Partners, The Community Fund, Uncorrelated Ventures, Gokul Rajaram, Jason Henrichs, Mark Cuban, Mengxi Lu, William Hockey
Mar 1, 2024	Applied Intuition	$250.0M Series E	—	10100, 1confirmation, Abstract Ventures, Kevin Hartz, Adverb Ventures, AirAngels, Amplo, Andreessen Horowitz, Chloe Sladden, Anti fund, Atomico, Base Partners, Bond, BoxGroup, Brainchild, C2 Investment, Catapult Capital, Coatue, Collab Capital, Construct Capital, Daffy, Divergence Ventures, Dynamo Ventures, Electric Capital, Entrepreneur First, Expa, Founders Fund, Fuel Capital, General Catalyst, Great Oaks Venture Capital, Greylock, Haystack, Hersh Interactive Group, Index Ventures, Innovation Endeavors, InterWest, IVP, Kleiner Perkins, LGF, Liquid 2 Ventures, Lux Capital, MaC Venture Capital, Menlo Ventures, Rick Yang, New Form Capital, Next Play Ventures, No Label Ventures, Otherwise Fund, Outcast Ventures, Polychain Capital, Quiet Capital, Robert Bosch Venture Capital, Robot Ventures, Sequoia Capital, Softbank Group, Sound Ventures, SparkLabs Group, The Hit Forge, Thrive Capital, UpHonest Capital, Visionaire Ventures, Aaron Levie, Aston Motes, Balaji Srinivasan, Bradley Horowitz, Carmelo Anthony (Melo7 Tech Partners), Diego Berdakin, DJ Patil, Dylan Field, Erik Moore, Gokul Rajaram, Jim Pitkow, John Legend, Justin Mateen, Kevin Colas, Marc Benioff, Mark Pincus, Mike Krieger, Rick Wagoner, Sahin Boydas, Stani Kulechov, Thomas Tull, Vitalik Buterin
Mar 1, 2024	Conduce Health	$3.0M Seed	—	Connecticut Innovations, Convective Capital, Healthy Ventures, TY
Mar 1, 2024	Monit	$4.0M Venture Round	—	Operate, Peter Kight
Jan 1, 2024	Hyperexponential	$73.0M Series B	—	Abstract Ventures, Andreessen Horowitz, Atreides Management, Bain Capital Ventures, Battery Ventures, Chemistry VC, Creative Juice, Curie.Bio, Exponent Founders Capital, Gradient Ventures, Kindred Capital VC, Lightspeed Venture Partners, NFX, Operator Partners, The Community Fund, Uncorrelated Ventures, Gokul Rajaram, Jason Henrichs, Mark Cuban, Mengxi Lu, William Hockey
Nov 1, 2023	Forward	$100.0M Series E	—	11, Adverb Ventures, Andreessen Horowitz, Chloe Sladden, C2 Investment, Catapult Capital, DBL Partners, DTCP, Expa, Greylock, ICONIQ Capital, Innovation Endeavors, Kleiner Perkins, O'Reilly AlphaTech Ventures, Qualcomm Ventures, Quiet Capital, sequel, Softbank Group, SOSV, Thrive Capital, Aaron Levie, Anjney Midha, Bartek Pucek, Bradley Horowitz, Brendan Iribe, Jim Pitkow, Marc Benioff, Mattia Astori, Mike Krieger, Rob Theis, Siqi Chen
Sep 1, 2023	Kin Insurance	$33.0M Series D	—	Alex, Avanta Ventures, Better Tomorrow Ventures, Bora&Sons, Flourish Ventures, Geodesic Capital, Hercules Capital, Infinite Niches, JLL Spark, Ligature, Lobby Capital, Picus Capital, QED Investors, Runway Growth Capital, Sandalphon Capital, Vouch Insurance, Chad Nitschke, Francisco Larrain, John M. Mueller, Jonathan Gheller, Sahin Boydas, Sung ho Choi
Aug 1, 2023	Companion Protect	$27.0M Series A	—	Alex, Avanta Ventures, Better Tomorrow Ventures, Bora&Sons, Flourish Ventures, Geodesic Capital, Hercules Capital, Infinite Niches, JLL Spark, Ligature, Lobby Capital, Picus Capital, QED Investors, Runway Growth Capital, Sandalphon Capital, Vouch Insurance, Chad Nitschke, Francisco Larrain, John M. Mueller, Jonathan Gheller, Sahin Boydas, Sung ho Choi
Aug 1, 2023	Trove	$30.0M Series E	—	ArcTern Ventures, Celesta, Earthshot Ventures, G2VP, Maveron, Lisa Gansky
Jul 1, 2023	Flueid	$10.0M Series B	—	—

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Commerce Ventures.

Matt Nichols

General Partner

Peter Kight

Angel Investor, Advisor

Leadership Team

Key people at Commerce Ventures.

Matt Nichols

General Partner

Peter Kight

Angel Investor, Advisor

Deep Dive

Commerce Ventures is an early-stage venture capital firm based in San Francisco that focuses on investing in startups transforming the e-commerce, retail, FinTech, and insurance sectors. Their mission is to partner with entrepreneurs building the foundational platforms for the future of retail and financial services, emphasizing a thematic and sector-specific approach to help portfolio companies access customers, distribution partners, advisors, and key executives. They invest primarily in companies with market-ready solutions and early customer adoption, typically at seed or Series A stages, and aim to empower the next generation of technology innovators in these industries[1][2][6].

Founded in 2013, Commerce Ventures was established by key partners including Dan Rosen and others who brought deep industry expertise and networks. Over time, the firm has evolved to focus on a narrow set of sectors—retail tech, payment tech, insurance tech, and banking tech—leveraging a strong network of limited partners from major banks, retailers, and insurers. This network enables Commerce Ventures to add significant value beyond capital through strategic introductions and operational support[1][5][7].

Core Differentiators

Unique Investment Model: Commerce Ventures typically invests with conviction but does not lead rounds, preferring to support companies where their thematic focus and network are highly relevant[4].
Network Strength: Their LP base includes large US banks, retailers, and insurers, providing portfolio companies with access to potential clients, distribution channels, and industry expertise[2][5].
Track Record: They have invested in over 60 startups, including category leaders like Bill.com (IPO), Marqeta, Narvar, and Socure, demonstrating a strong history of backing successful companies[1].
Operating Support: The firm acts as a thought and strategy partner, offering honest feedback and industry insights without the typical venture capital arrogance, helping CEOs focus on growth without unnecessary distractions[4].

Role in the Broader Tech Landscape

Commerce Ventures rides the wave of digitization and modernization in commerce and financial services, sectors undergoing rapid transformation due to consumer demand for seamless digital experiences and operational efficiency. The timing is critical as legacy systems in retail, payments, insurance, and banking face disruption from innovative startups. By focusing on infrastructure and platform companies, Commerce Ventures influences the broader ecosystem by accelerating the adoption of new technologies that enable better customer experiences and more efficient business operations[6].

Quick Take & Future Outlook

Looking ahead, Commerce Ventures is likely to deepen its commitment to diversity and inclusion, as evidenced by initiatives like the CV Access Fellowship, which aims to mentor and support underrepresented talent in venture capital and startups. The firm will continue to capitalize on trends such as programmable payments (e.g., stablecoins), digital insurance platforms, and next-generation retail technologies. Their influence is expected to grow as they maintain a strong network and thematic focus, helping shape the future infrastructure of commerce and financial services[1][3][6].

In summary, Commerce Ventures stands out as a specialized, network-driven venture capital firm dedicated to powering the future of commerce by backing entrepreneurs who build critical infrastructure across retail, payments, insurance, and banking.

Sources

Core Differentiators

Unique Investment Model: Commerce Ventures typically invests with conviction but does not lead rounds, preferring to support companies where their thematic focus and network are highly relevant[4].
Network Strength: Their LP base includes large US banks, retailers, and insurers, providing portfolio companies with access to potential clients, distribution channels, and industry expertise[2][5].
Track Record: They have invested in over 60 startups, including category leaders like Bill.com (IPO), Marqeta, Narvar, and Socure, demonstrating a strong history of backing successful companies[1].
Operating Support: The firm acts as a thought and strategy partner, offering honest feedback and industry insights without the typical venture capital arrogance, helping CEOs focus on growth without unnecessary distractions[4].