Commerce Ventures

Commerce Ventures is a San Francisco-based venture capital firm that invests across early-stage and growth capital in commerce-related sectors, including mobile, payments, retail fintech, insureTech, and related software and services. The firm combines capital with strategic guidance to help portfolio companies scale their commerce innovations, drawing a network of entrepreneurs, senior executives, and corporate partners from its focus sectors. It pursues opportunities across North America, funding software, financial services, and retail technology companies that transform how consumers shop and transact.

Vivek Krishnamurthy

Partner

Ysbrant Marcelis

Partner

Matthew Nichols

General Partner

Rishabh Pudhota

Associate

Dan Raveh

Principal

Past deals in Market Research

ReFiBuy

Pre Seed Round in 2025
ReFiBuy is a technology company that aims to enhance the online shopping experience. It develops an AI-based platform that mimics human-like decision-making to improve the 'Research, Find, Buy' process for consumers. The platform uses advanced AI techniques such as Generative AI and Retrieval-Augmented Generation, along with agentic solutions, to understand and address complex retail challenges. This enables brands and retailers to better understand consumer behavior and improve product discovery and purchasing processes.

FI Navigator

Series B in 2019
FI Navigator Corporation is a provider of a web-based bank data and analytics platform tailored for the banking sector. Established in 2014 and based in Atlanta, Georgia, the company specializes in delivering institution-specific insights and comprehensive industry research. Its platform offers a range of solutions, including market research, performance analysis, and data enrichment for financial institutions and fintech providers. By leveraging a proprietary method to analyze unstructured website data, FI Navigator enables users to assess performance metrics such as profit, growth, and risk, while also highlighting product offerings and service channel discrepancies. The platform aggregates data across the industry, allowing for strategic market analytics that enhance decision-making for financial executives and their advisors. This innovative approach positions FI Navigator as a key player in the evolving landscape of banking analytics.

Reachify

Venture Round in 2017
Reachify Inc. is a software buying platform that assists enterprise brands in making informed decisions about software solutions, including website platforms, mobile applications, and web analytics. Founded in 2015 and headquartered in New York, the company provides a comprehensive intelligence platform that allows brands to access vetted technology solutions, understand competitor usage, and gather market insights. Reachify's offerings include tools that help brands shortlist reliable software vendors and provide technology vendors with the ability to manage their listings and update their information. By combining robust data collection and industry expertise, Reachify aims to streamline the software evaluation process for enterprise brands and enhance the sales experience for technology vendors. The founder, Cindy Lincks, leveraged her extensive background in e-commerce and software evaluation challenges to create a solution that addresses the needs of both buyers and sellers in the enterprise software market.

RetailNext

Series E in 2015
RetailNext provides real-time analytics for physical retail, enabling retailers, shopping centers, and manufacturers to collect, analyze, and visualize in-store data. The platform combines video analytics, Wi-Fi and Bluetooth detection, on-shelf sensors, beacons, and data from point-of-sale systems to automatically inform retailers about how shoppers engage with stores. It easily integrates with promotional calendars, staffing systems, and weather data to assess how internal and external factors affect shopping patterns, identify opportunities for growth, implement changes, and measure outcomes. The solution supports traffic counting, conversion, staffing optimization, window and display effectiveness, shopper insights, and loss prevention, helping optimize store execution. RetailNext serves customers globally from its headquarters in San Jose, California, and operates in more than 50 countries, tracking over a billion shoppers per year with tens of thousands of sensors and trillions of data points analyzed.

RetailNext

Series D in 2014
RetailNext provides real-time analytics for physical retail, enabling retailers, shopping centers, and manufacturers to collect, analyze, and visualize in-store data. The platform combines video analytics, Wi-Fi and Bluetooth detection, on-shelf sensors, beacons, and data from point-of-sale systems to automatically inform retailers about how shoppers engage with stores. It easily integrates with promotional calendars, staffing systems, and weather data to assess how internal and external factors affect shopping patterns, identify opportunities for growth, implement changes, and measure outcomes. The solution supports traffic counting, conversion, staffing optimization, window and display effectiveness, shopper insights, and loss prevention, helping optimize store execution. RetailNext serves customers globally from its headquarters in San Jose, California, and operates in more than 50 countries, tracking over a billion shoppers per year with tens of thousands of sensors and trillions of data points analyzed.

RetailNext

Series C in 2013
RetailNext provides real-time analytics for physical retail, enabling retailers, shopping centers, and manufacturers to collect, analyze, and visualize in-store data. The platform combines video analytics, Wi-Fi and Bluetooth detection, on-shelf sensors, beacons, and data from point-of-sale systems to automatically inform retailers about how shoppers engage with stores. It easily integrates with promotional calendars, staffing systems, and weather data to assess how internal and external factors affect shopping patterns, identify opportunities for growth, implement changes, and measure outcomes. The solution supports traffic counting, conversion, staffing optimization, window and display effectiveness, shopper insights, and loss prevention, helping optimize store execution. RetailNext serves customers globally from its headquarters in San Jose, California, and operates in more than 50 countries, tracking over a billion shoppers per year with tens of thousands of sensors and trillions of data points analyzed.
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