Fung Capital

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.

Michael Hsieh

President

John Seung

Managing Partner

Tugba Unkan

Managing Director

18 past transactions

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
Smart Retail gives you a platform with rich sales data analytics that's powered by a dedicated field force on the ground. While managing your brand across thousands of stores normally is an impossible, ineffective task, Smart Retail creates opportunities so you can make important, informed decisions that affect sales right now. It allows you to break the existing sales cycle and create a smarter one. Say goodbye to retail as you knew it, and say hello to visibility, actionability, and profitability. Say hello to Smart Retail with ThirdChannel.

Flow Commerce

Series A in 2017
Flow provides a turn-key platform for e-commerce companies to go global, capturing international demand for their products. The platform enables merchants to simply configure their cross-border supply-chain requirements and immediately fulfill their overseas demand. Flow can be used by e-commerce companies of any size and both as a complete, end-to-end solution or as a modular unbundled product. Using the Flow platform the experience of buying and selling internationally is as easy as domestic for both merchants and consumers.

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 is a customer experience platform that focuses on enhancing post-purchase interactions for retailers, aiming to foster long-term customer loyalty. Founded in 2012 and headquartered in San Francisco, the company serves over 500 retailers, including prominent brands like Sephora, Patagonia, Home Depot, Gap, and Bose. Narvar's solutions streamline the post-purchase journey by offering features such as effortless order tracking, proactive communications, and easy returns. By leveraging machine learning to analyze billions of customer interactions, Narvar simplifies the shopping experience, helping retailers engage and retain customers effectively.

Locus.sh

Series A in 2016
Locus is an intelligent logistics automation and decision-making platform that comes with in-built route planning and vehicle allocation engine which improves consistency and efficiency of operations. The platform helps companies and enterprises in e-commerce, food delivery, FMCG and other verticals to automate and optimize their logistics. The product suite comprises of a route deviation engine, order dispatch automation, a field user app, route optimizations, scheduling, tracking for end-customer, and predictive analytics. Offering the entire technology stack, in the form of a platform as a service.

Tulip

Series A in 2016
Tulip Retail, Inc. is a developer of a cloud-based mobile platform designed specifically for retail store associates. Founded in 2013 and based in Toronto, Canada, with additional offices in Kitchener, London, Caerano di San Marco, and New York, Tulip aims to enhance the in-store experience by empowering associates with a suite of intuitive mobile applications. The platform offers features such as assisted selling, clienteling, and a comprehensive checkout system, allowing associates to access product and customer information seamlessly. Retailers use Tulip's solutions to provide an enriched omnichannel shopping experience, streamlining operations and communications while elevating customer service. Notable clients include Saks Fifth Avenue, Kate Spade, and Coach, among others.

HookLogic

Series C in 2015
HookLogic is a performance marketing service provider that specializes in closed-loop marketing for brand advertisers. Founded in 2004 and headquartered in New York, the company partners with leading retailers and online travel agencies to enhance the sales strategies of product brands and hotels. Through its platform, advertisers can effectively reach in-market shoppers, drive traffic to their products, and gain insights into sales attributed to their advertising efforts. This approach allows brands to optimize their return on investment while fostering a clear understanding of the effectiveness of their marketing campaigns. Notable partners include major retailers, such as Walmart.

Olapic

Series B in 2015
Olapic Inc. is a visual marketing platform that transforms consumer-generated photos and videos into valuable brand assets for marketing and e-commerce use. Founded in 2009 and headquartered in New York, the company specializes in collecting, curating, publishing, and analyzing visual content from social media to enhance brand engagement and boost sales performance. Olapic offers various solutions, including predictive consumer-generated ads, ad retargeting, and Instagram shopping, catering to brands and retailers across multiple sectors such as apparel, beauty, home, and travel. The platform enables businesses to create authentic marketing experiences that resonate with consumers, driving engagement and improving campaign effectiveness. As of September 2020, Olapic operates as a subsidiary of Social Native LLC, with additional offices in Cordoba, Argentina, and London, United Kingdom.

Centric Software

Series D in 2014
Centric Software, Inc. specializes in web-based product lifecycle management (PLM) software designed to streamline product development and enhance time-to-market for various industries, including fashion, retail, footwear, and consumer goods. Its flagship platform, Centric 8, offers comprehensive tools for managing critical business processes such as sourcing, quality management, and collection management. The company also provides the Centric Visual Innovation Platform (VIP), which facilitates visual decision-making through digital boards for touch-enabled devices. Additionally, Centric Software caters to small businesses with its Centric SMB packages, incorporating innovative technology and industry insights. Founded in 1989 and headquartered in Campbell, California, Centric Software operates globally, with offices in major cities across North America, Europe, and Asia. The company has received several industry accolades, reflecting its leadership in PLM solutions.

Olapic

Series A in 2013
Olapic Inc. is a visual marketing platform that transforms consumer-generated photos and videos into valuable brand assets for marketing and e-commerce use. Founded in 2009 and headquartered in New York, the company specializes in collecting, curating, publishing, and analyzing visual content from social media to enhance brand engagement and boost sales performance. Olapic offers various solutions, including predictive consumer-generated ads, ad retargeting, and Instagram shopping, catering to brands and retailers across multiple sectors such as apparel, beauty, home, and travel. The platform enables businesses to create authentic marketing experiences that resonate with consumers, driving engagement and improving campaign effectiveness. As of September 2020, Olapic operates as a subsidiary of Social Native LLC, with additional offices in Cordoba, Argentina, and London, United Kingdom.

500friends

Series B in 2013
500friends is the trusted provider of next generation loyalty marketing solutions to over 40 of the Internet Retailer 1,000 brands. 500friends is backed by leading institutional investors including Crosslink Capital, Intel Capital, and YCombinator.

GT Nexus

Secondary Market in 2011
GT Nexus, Inc. operates a cloud-based supply chain platform that enables companies to monitor and manage their global supply chains effectively. The platform offers a range of solutions, including supply chain visibility, intelligence, and management tools for logistics, transportation, inventory, and factory operations. Key features include Procure-to-Pay for transaction automation, Supply Chain Finance for optimizing capital and reducing risks, and comprehensive visibility to enhance operational insights. The platform supports various stakeholders, such as importers, exporters, suppliers, logistics providers, and financial institutions, by facilitating collaboration and data exchange throughout the supply chain. Founded in 1998 and based in Oakland, California, GT Nexus was previously known as Tradiant, Inc. and became a subsidiary of Infor in 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, founded in 1996, is a global company specializing in custom manufacturing solutions and an end-to-end product development platform. It serves a diverse range of industries, including beauty, technology, fashion, and wellness. PCH's services encompass product development, manufacturing, fulfillment, logistics, and supply chain management, enabling clients to optimize their operations and enhance consumer engagement. The company operates with an innovative supply chain model that connects brands directly with consumers, eliminating traditional silos and increasing efficiency. PCH has established Innovation Hubs in San Francisco and Shenzhen, alongside its headquarters in Cork, Ireland, and operational support in Cape Town, South Africa. Additionally, PCH founded Highway1, a renowned hardware accelerator that helps startups bring innovative products to market. Committed to sustainability and transparency, PCH emphasizes teamwork and professional growth while fostering a diverse and inclusive work environment.

500friends

Seed Round in 2010
500friends is the trusted provider of next generation loyalty marketing solutions to over 40 of the Internet Retailer 1,000 brands. 500friends is backed by leading institutional investors including Crosslink Capital, Intel Capital, and YCombinator.

ecVision

Secondary Market in 2009
ecVision is a cloud-based supply chain collaboration platform that optimizes product life cycle and supply chain processes. Through increased visibility and collaboration, users can manage costs, mitigate risk and streamline the flow of goods. Customers include PVH, Coach, Gap, A&F, Timberland and Ralph Lauren. Company was acquired by Amber Road (AMBR) in 2015.

Proclivity

Series B in 2008
Proclivity Systems, LLC operates a technology and analytics platform that focuses on providing data analytics and advertising solutions to its clients. Founded in 2006 and based in New York, the company features LayerRx, a smart marketplace designed for healthcare professionals, which enhances data security, transparency, and predictive insights to optimize sales based on healthcare providers' interactions with digital media. Proclivity Systems also offers a central revenue optimization platform that serves as a consumer behavior bank, granting clients insights into shopping interests, purchasing likelihoods, and expenditure levels. This intelligence enables businesses to make informed decisions and efficiently target marketing efforts across various channels. Their flagship product, Proclivity Mail, leverages this data to improve the accuracy of consumer purchasing forecasts in targeted email campaigns.
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