Fung Capital, established in 1986, serves as the investment arm of the Fung family in Hong Kong and is based in San Francisco, California. It is affiliated with the Fung Group, a global entity involved in sourcing, distributing, and retailing consumer products, which generates over $22 billion in revenue and employs approximately 45,000 people across more than 40 countries. Fung Capital focuses on investing in B2B technology companies that enhance omni-channel retailing, improve supply chain efficiency, and support sectors such as in-store technology, e-commerce enablement, data analytics, and logistics.
Shippeo is a technology company specializing in real-time transportation visibility for supply chains. Founded in 2014, it offers a platform that allows shippers, carriers, and 4PLs to track deliveries and communicate proactively with end customers. The platform integrates with various data sources, including transportation management systems and telematics products, to provide real-time location data and delivery tracking. With a proprietary algorithm, Shippeo calculates estimated arrival times, helping businesses lower transportation costs, enhance customer satisfaction, and promote sustainable operations. The company tracks over 40,000 deliveries monthly across Europe, serving notable clients such as Leroy Merlin, Saint-Gobain, and Faurecia, and connects with more than 600 carriers.
Pipe17
Series A in 2025
Pipe17 offers a cloud-based order operations platform that streamlines the management of retail operations for brands, retailers, and fulfillment providers. By integrating selling and fulfillment platforms with back-office applications, Pipe17 enables these systems to work together efficiently to process orders. The platform connects various inventory systems, warehouses, and sales channels, providing a consolidated real-time view of stock while ensuring that source systems remain synchronized. It monitors inventory levels, checks order counts against repositories, and alerts users to discrepancies, allowing for proactive resolution of logistical and delivery challenges. This functionality helps clients address fulfillment issues before they arise, eliminates integration problems, automates data flow, and enhances profit margins.
Pipe17
Convertible Note in 2025
Pipe17 offers a cloud-based order operations platform that streamlines the management of retail operations for brands, retailers, and fulfillment providers. By integrating selling and fulfillment platforms with back-office applications, Pipe17 enables these systems to work together efficiently to process orders. The platform connects various inventory systems, warehouses, and sales channels, providing a consolidated real-time view of stock while ensuring that source systems remain synchronized. It monitors inventory levels, checks order counts against repositories, and alerts users to discrepancies, allowing for proactive resolution of logistical and delivery challenges. This functionality helps clients address fulfillment issues before they arise, eliminates integration problems, automates data flow, and enhances profit margins.
Cimulate
Series A in 2024
Cimulate is a generative AI technology company revolutionizing commerce by optimizing the customer journey, starting with search and discovery. Our proprietary large language model (LLM)-powered operating system leverages the comprehensive knowledge of the internet to accurately predict customer intent and serve products and content that lead to conversion.
UniUni
Series C in 2024
UniUni is a developer of a B2B delivery services platform focused on enhancing shipping solutions for the e-commerce and logistics sectors. The company utilizes innovative technology to automate the package sorting process and facilitate efficient last-mile delivery. By providing reliable, cost-effective, and flexible services, UniUni enables e-commerce businesses to thrive by ensuring that products are safely delivered directly to consumers' doorsteps. Its approach positions UniUni as a key player in the evolving landscape of delivery services in North America.
Invent Analytics
Series B in 2024
Invent Analytics is a provider of advanced analytics solutions tailored for retailers and fast-moving consumer goods (FMCG) companies. The company's offerings enable organizations to enhance profitability through data-driven decisions related to inventory and pricing. By utilizing Invent's proprietary platform, businesses have experienced a 2-6% rise in profitability, validated through large-scale A/B testing. The platform focuses on retail forecasting, allocation, and replenishment, emphasizing effective supply chain network design and profit-optimized inventory management. It allows for dynamic real-time order orchestration that accurately predicts customer demand and sales forecasts, facilitating improved merchandise planning and increased product turnover. Invent's SaaS model supports agility and scalability, requiring no upfront capital investment, as clients can subscribe on a pay-as-you-go basis.
Rippey AI
Venture Round in 2023
Rippey AI specializes in automating business processes through the use of conversational artificial intelligence and document machine learning, specifically targeting the supply chain and logistics sectors. The company develops robotic process software that streamlines time-consuming tasks such as data entry, quoting, email responses, and routine customer inquiries. By leveraging automation technology and natural language processing, Rippey AI enhances productivity for service providers, allowing them to improve efficiency in documentation and customer interactions.
GoFreight
Series A in 2022
GoFreight is a web-based software as a service (SaaS) platform tailored for international freight forwarders. Established in 2016, the company provides tools that enable freight forwarders to digitize their operations and manage processes efficiently across various shipping methods, including sea, air, and land. The platform enhances operational efficiency through features such as data visualization, automation, freight tracking, and instant booking and quotation services. GoFreight facilitates the seamless updating and management of logistics documents, allowing operators to generate and print necessary documentation at any operational stage while also archiving copies for future reference. By streamlining these processes, GoFreight empowers logistics businesses to fully embrace digital transformation in their operations.
Shippeo
Series C in 2022
Shippeo is a technology company specializing in real-time transportation visibility for supply chains. Founded in 2014, it offers a platform that allows shippers, carriers, and 4PLs to track deliveries and communicate proactively with end customers. The platform integrates with various data sources, including transportation management systems and telematics products, to provide real-time location data and delivery tracking. With a proprietary algorithm, Shippeo calculates estimated arrival times, helping businesses lower transportation costs, enhance customer satisfaction, and promote sustainable operations. The company tracks over 40,000 deliveries monthly across Europe, serving notable clients such as Leroy Merlin, Saint-Gobain, and Faurecia, and connects with more than 600 carriers.
Tulip
Series C in 2021
Tulip Retail, Inc. is a cloud-based mobile platform designed specifically for retail store associates, founded in 2013 and headquartered in Toronto, Canada, with additional offices in Kitchener, London, Caerano di San Marco, and New York. The platform offers a suite of tools that empower store associates by providing real-time access to product and inventory information, customer profiles, and a variety of features for assisted selling and clienteling. Key components include a mobile associate app, checkout capabilities for omnichannel orders, and modules for streamlined store communications and look building based on customer preferences. By integrating mobile technology into the retail environment, Tulip aims to enhance the in-store shopping experience, boost sales, and improve customer service for leading retailers.
Social Native
Venture Round in 2021
Social Native is an online platform designed to facilitate the creation of customized branded content by connecting brands with relevant creators based on shared interests and brand affinity. By operating as an advertising marketplace, it enables brands to source and optimize visual content, thereby enhancing brand awareness and performance. The platform offers a range of services, including on-demand images and videos, personalized content, age-targeting, testimonials, product placements, and brand affinity insights. Additionally, Social Native employs a data-driven engine that provides brands with insights to scale content creation, measure the impact of their efforts, and optimize their content strategy effectively.
ThirdChannel
Venture Round in 2021
ThirdChannel, Inc. operates a cloud-based retail intelligence platform that enhances visibility and control for brands in the retail sector across the United States. Founded in 2012 and headquartered in Cambridge, Massachusetts, the company integrates real-time data from field teams with various sources, including point of sale and inventory data. This comprehensive approach enables brand owners and merchandisers to identify retail execution issues and generate actionable plans to optimize sales. By providing rich sales data analytics and empowering on-the-ground teams, ThirdChannel helps clients make informed decisions that drive revenue growth and improve profitability in an increasingly complex retail environment.
Celect
Venture Round in 2021
Celect is a cloud-based predictive analytics platform headquartered in Boston, Massachusetts, focused on helping retailers optimize their inventory portfolios both in stores and across the supply chain. Founded in 2013, the company specializes in assortment optimization, predictive personalization, and markdown optimization. Its platform integrates inventory, transaction, product catalog, and impression data from various organizational silos, simplifying the complexities associated with inventory management and product assortments. By leveraging these insights, retailers can achieve significant revenue growth while streamlining their operations.
Narvar
Venture Round in 2021
Narvar Inc. is a customer experience platform based in San Mateo, California, with additional offices in London and Bengaluru. Founded in 2012, Narvar specializes in shipping and delivery solutions tailored for retailers, enhancing the post-purchase journey to foster long-term customer loyalty. The platform offers seamless order tracking, proactive communications, and efficient returns, allowing retailers to engage customers effectively and inspire brand loyalty. Serving over 500 retailers, including notable brands such as Sephora and Patagonia, Narvar leverages machine learning to analyze billions of interactions, improving customer experiences and optimizing supply chain management. Through its comprehensive approach, Narvar aids retailers in converting customers and promoting their brands from cart to doorstep and beyond.
Flamingo
Venture Round in 2021
Flamingo provides is an online store that offers a wide range of body and skincare products at an affordable range.
Celect
Series C in 2018
Celect is a cloud-based predictive analytics platform headquartered in Boston, Massachusetts, focused on helping retailers optimize their inventory portfolios both in stores and across the supply chain. Founded in 2013, the company specializes in assortment optimization, predictive personalization, and markdown optimization. Its platform integrates inventory, transaction, product catalog, and impression data from various organizational silos, simplifying the complexities associated with inventory management and product assortments. By leveraging these insights, retailers can achieve significant revenue growth while streamlining their operations.
ThirdChannel
Series A in 2017
ThirdChannel, Inc. operates a cloud-based retail intelligence platform that enhances visibility and control for brands in the retail sector across the United States. Founded in 2012 and headquartered in Cambridge, Massachusetts, the company integrates real-time data from field teams with various sources, including point of sale and inventory data. This comprehensive approach enables brand owners and merchandisers to identify retail execution issues and generate actionable plans to optimize sales. By providing rich sales data analytics and empowering on-the-ground teams, ThirdChannel helps clients make informed decisions that drive revenue growth and improve profitability in an increasingly complex retail environment.
Flow Commerce
Series A in 2017
Flow Commerce, Inc. is a technology company that specializes in cross-border e-commerce solutions. Founded in 2015 and headquartered in Hoboken, New Jersey, with an additional office in Dublin, Ireland, Flow provides a comprehensive platform that simplifies international selling for e-commerce businesses. Its services enable merchants to configure their cross-border supply-chain requirements efficiently, making it easier to capture global demand for their products. The platform addresses various aspects of international transactions, including multi-currency pricing, shipping logistics, payment processing, and tax calculations, while utilizing artificial intelligence to streamline operations. Flow's solution is versatile, catering to businesses of all sizes and can be implemented as a complete system or as modular components, ensuring a seamless experience for both merchants and consumers in the global marketplace.
Celect
Series B in 2017
Celect is a cloud-based predictive analytics platform headquartered in Boston, Massachusetts, focused on helping retailers optimize their inventory portfolios both in stores and across the supply chain. Founded in 2013, the company specializes in assortment optimization, predictive personalization, and markdown optimization. Its platform integrates inventory, transaction, product catalog, and impression data from various organizational silos, simplifying the complexities associated with inventory management and product assortments. By leveraging these insights, retailers can achieve significant revenue growth while streamlining their operations.
Narvar
Series B in 2016
Narvar Inc. is a customer experience platform based in San Mateo, California, with additional offices in London and Bengaluru. Founded in 2012, Narvar specializes in shipping and delivery solutions tailored for retailers, enhancing the post-purchase journey to foster long-term customer loyalty. The platform offers seamless order tracking, proactive communications, and efficient returns, allowing retailers to engage customers effectively and inspire brand loyalty. Serving over 500 retailers, including notable brands such as Sephora and Patagonia, Narvar leverages machine learning to analyze billions of interactions, improving customer experiences and optimizing supply chain management. Through its comprehensive approach, Narvar aids retailers in converting customers and promoting their brands from cart to doorstep and beyond.
Locus
Series A in 2016
Locus is a technology company based in Bengaluru, India, founded in 2015, that addresses challenges in last-mile logistics through its order-to-delivery dispatch management platform. The company offers automation and optimization solutions designed to enhance the efficiency of delivery operations for businesses. Its platform supports clients in managing deliveries, optimizing workflows, and improving customer experiences. Locus has successfully facilitated 650 million deliveries across over 30 countries, serving notable clients such as Unilever, Nestle, and BlueDart. The company’s solutions have resulted in significant cost savings, totaling $200 million in transit expenses, and have contributed to a reduction of 70 million kilograms in CO2 emissions while maintaining a high service level adherence rate of 99.5%. Locus is backed by prominent investors, including GIC Singapore, Qualcomm Ventures, Tiger Global, and Falcon Edge.
Tulip
Series A in 2016
Tulip Retail, Inc. is a cloud-based mobile platform designed specifically for retail store associates, founded in 2013 and headquartered in Toronto, Canada, with additional offices in Kitchener, London, Caerano di San Marco, and New York. The platform offers a suite of tools that empower store associates by providing real-time access to product and inventory information, customer profiles, and a variety of features for assisted selling and clienteling. Key components include a mobile associate app, checkout capabilities for omnichannel orders, and modules for streamlined store communications and look building based on customer preferences. By integrating mobile technology into the retail environment, Tulip aims to enhance the in-store shopping experience, boost sales, and improve customer service for leading retailers.
HookLogic
Series C in 2015
HookLogic specializes in closed-loop marketing solutions aimed at brand advertisers by partnering with major retailers and travel companies. The company offers a proprietary platform that enables advertisers to connect with in-market shoppers, effectively driving traffic to their products. By utilizing HookLogic's services, brands can gain insights into sales generated from their advertising efforts, allowing them to optimize their marketing strategies for better returns on investment. The focus on performance marketing helps brands accelerate sales and enhance visibility in a competitive marketplace.
Olapic
Series B in 2015
Olapic Inc. operates a visual marketing platform that transforms consumer-generated photos and videos into valuable brand assets for marketing and e-commerce. Founded in 2009 and headquartered in New York, with additional offices in Cordoba, Argentina, and London, the company specializes in collecting, curating, and analyzing visual content from social media. Olapic's services enhance brand and retailer engagement by creating authentic marketing experiences that drive sales and improve campaign performance. The platform supports various sectors, including apparel, beauty, and travel, and offers features such as predictive consumer-generated ads and Instagram shopping. As of late 2020, Olapic functions as a subsidiary of Social Native LLC.
Centric Software
Series D in 2014
Centric Software, Inc. specializes in providing Web-based product lifecycle management (PLM) software aimed at enhancing product development and streamlining business processes for various industries. The company's flagship platform, Centric 8, offers comprehensive solutions for product development, sourcing, business planning, quality management, and collection management, tailored specifically for fast-moving sectors such as fashion, retail, and consumer goods. Additionally, Centric Software features the Visual Innovation Platform (VIP), which facilitates digital collaboration and decision-making through interactive visual boards. Catering to both large enterprises and small businesses, Centric Software delivers its PLM services via cloud applications and mobile solutions. Founded in 1989 and headquartered in Campbell, California, the company has expanded its global presence with offices in multiple countries, including the United States, Canada, Brazil, and various locations across Europe and Asia. Centric Software has garnered industry recognition for its innovative solutions, receiving awards for product differentiation and excellence in the retail and fashion sectors.
Olapic
Series A in 2013
Olapic Inc. operates a visual marketing platform that transforms consumer-generated photos and videos into valuable brand assets for marketing and e-commerce. Founded in 2009 and headquartered in New York, with additional offices in Cordoba, Argentina, and London, the company specializes in collecting, curating, and analyzing visual content from social media. Olapic's services enhance brand and retailer engagement by creating authentic marketing experiences that drive sales and improve campaign performance. The platform supports various sectors, including apparel, beauty, and travel, and offers features such as predictive consumer-generated ads and Instagram shopping. As of late 2020, Olapic functions as a subsidiary of Social Native LLC.
500friends
Series B in 2013
500friends is a provider of loyalty marketing solutions, catering to over 40 brands from the Internet Retailer 1,000 list. The company specializes in customer retention through its LoyaltyPlus platform, which allows e-commerce retailers to track, reward, and recognize important customer behaviors. 500friends is supported by notable institutional investors, enhancing its credibility in the market.
GT Nexus
Secondary Market in 2011
GT Nexus, Inc. is a provider of a cloud-based supply chain platform designed to enhance the efficiency and visibility of global supply chains. Established in 1998 and headquartered in Oakland, California, the company offers a suite of solutions that include supply chain intelligence, visibility, factory and transportation management, inventory management, and supply collaboration. These solutions facilitate collaboration and transaction automation among trading partners, enabling improved working capital management and reduced risks. The platform connects various stakeholders, including importers, exporters, suppliers, and logistics providers, enhancing the flow of goods and information from order to payment. Additionally, GT Nexus provides tools for data services and web services, which support logistics management by enabling access to critical shipping information. The company serves a diverse range of industries, including manufacturing, retail, logistics services, and financial services, and operates as a subsidiary of Infor (US), Inc. since 2015.
Onestop Internet
Series B in 2011
Founded in 2003, Los Angeles-based Onestop Internet is a full-spectrum eCommerce partner backed by blue-chip investors Bessemer Ventures and Fung Capital USA (Li & Fung.) Onestop provides customized end-to-end digital commerce solutions for retail brands both on an entirely outsourced basis and a-la-carte. The company’s suite of integrated core services includes an omnichannel commerce technology platform, performance marketing, business intelligence, merchandising and planning, brand-focused design, retail imaging and video, full-scale warehousing and fulfillment, and world-class customer care.
PCH
Series C in 2011
PCH is a global company founded in 1996, specializing in end-to-end product development and supply chain orchestration for leading brands across diverse sectors such as beauty, technology, fashion, and wellness. With a focus on rapid and rigorous product development, PCH offers a unique platform that enhances visibility and sustainability while connecting brands directly to consumers through various market channels, including eCommerce and retail. The company operates internationally, leveraging cost synergies and access to talent, and utilizes an asset-light model that optimizes the complete product lifecycle. PCH's innovation hubs in San Francisco and Shenzhen, along with its headquarters in Cork, Ireland, support its mission to facilitate efficient and agile supply chains. Furthermore, PCH is known for founding Highway1, a prominent hardware accelerator that aids startups in bringing innovative products to market. The company emphasizes diversity, inclusion, and professional growth, creating an environment that fosters teamwork and passion.
500friends
Seed Round in 2010
500friends is a provider of loyalty marketing solutions, catering to over 40 brands from the Internet Retailer 1,000 list. The company specializes in customer retention through its LoyaltyPlus platform, which allows e-commerce retailers to track, reward, and recognize important customer behaviors. 500friends is supported by notable institutional investors, enhancing its credibility in the market.
ecVision
Secondary Market in 2009
ecVision is a cloud-based supply chain collaboration platform designed to enhance product life cycle and supply chain processes. The platform facilitates increased visibility and collaboration, enabling users to manage costs, mitigate risks, and streamline the flow of goods. It offers tailored modules for apparel, footwear, and softlines retailers, brands, and manufacturers, serving a wide array of stakeholders including internal teams, suppliers, mills, factories, logistics providers, inspection agencies, and banks both in the United States and globally. Notable customers include prominent brands such as PVH, Coach, Gap, Abercrombie & Fitch, Timberland, and Ralph Lauren. In 2015, ecVision was acquired by Amber Road.
Proclivity
Series B in 2008
Proclivity Systems specializes in predictive analytics solutions that deliver insights into consumer shopping and purchasing behavior. The company's central platform, Proclivity, serves as a consumer behavior bank, equipping clients with valuable information on customer interests, purchasing probabilities, and potential spending for various offers. This intelligence facilitates informed business decisions and enables immediate targeting across multiple channels to enhance revenue generation. Proclivity's flagship product, Proclivity Mail, leverages the insights from the consumer behavior bank to accurately predict responses to targeted email campaigns, thereby optimizing marketing efforts. The integration of high-speed trading with machine learning allows Proclivity to offer performance-driven marketing and merchandising tailored to individual consumer preferences.
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