Top 14 Venture Capital Firms Investing in Retail Technology Startups

When preparing to raise capital for your Retail Technology startup, knowing which investors truly understand your space is critical. It saves you time and increases your chances of finding a partner who appreciates the specific challenges and opportunities in RetailTech and e-commerce.

To help you focus your search, our team at Rho curated this overview of the top venture capital firms investing in the consumer and retail sectors. Use this guide to quickly learn about the investors who are most relevant to your business.

Rho provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.

Key Takeaways

• For startups in Retail Technology, securing venture funding provides the capital needed to scale operations, invest in product development, and expand into new markets.
• Venture firms like Forerunner, VMG Partners, Branded Hospitality, and Camber Creek are notable backers in the retail sector, actively investing in promising startups.
• Once you’ve secured funding, Rho helps you manage and deploy your new capital efficiently with fast business banking, corporate cards, and automated bill pay.

Which VC Firms in Retail Technology Are Right for Your Stage?

Whether you're at the seed stage or preparing for an exit, it’s important to know which investors to approach. Here is a quick overview of venture capital firms in the retail technology space, organized by the stages they invest in.

Pre-seed and Seed VC Firms in Retail Technology

Pre-seed and seed funding are the earliest forms of capital, typically used to validate an idea and build an initial product. For founders in the commerce tech space, seed venture capital firms like Silicon Road Ventures, Mu Ventures, and RevTech are known for backing companies at this foundational stage.

Early Stage VC Firms in Retail Technology

Early-stage funding, including Series A and Series B rounds, is for startups with proven traction that need capital to scale their team and accelerate growth. Consumer-focused venture capital firms that are active at this stage include Forerunner Ventures, Branded Hospitality, and Commerce Ventures.

Late Stage VC Firms in Retail Technology

Late-stage rounds provide significant capital to established companies preparing for major expansion, a potential acquisition, or an IPO. Technology VC firms such as Lumia Capital and Align Ventures often participate in these later rounds, helping companies achieve breakout growth.

Many venture capital investment firms invest across multiple stages, from seed to exit. Once you’ve secured funding from the right partner, Rho’s integrated financial tools—including business banking, corporate cards, and automated bill pay—help you manage and deploy that capital efficiently.

To help you find the right investment partners, we've prepared a closer look at the top VC firms in the Retail Technology sector. For each firm, you'll find key details on their investment stages, geographic focus, and what makes them a compelling choice for founders.

1. Forerunner

Forerunner is a venture capital firm that invests in companies built on a deep understanding of the modern consumer. They look for founders who are redefining commerce and consumer experiences.

The firm has a strong track record with major consumer brands, including eyewear pioneer Warby Parker and Dollar Shave Club. Their portfolio shows a focus on companies that connect directly with customers and build powerful, lasting brand loyalty.

This firm is an excellent match if you are building a consumer-focused business, particularly in retail or fintech. They are well-suited for founders who have a clear vision for how their product will fit into the lives of today's shoppers.

• Investment stages: Seed to late stage
• Industries of focus: Retail, Retail Technology, FinTech, Internet
• Geographical presence: San Francisco
• Founded: 2010
• Notable portfolio companies: Chime, Faire, Warby Parker, Dollar Shave Club, Jet

You can refer to their website here.

2. VMG Partners

VMG Partners is a private equity and venture capital firm that partners with founders to grow consumer brands. They invest in both the brands themselves and the technologies that power their growth.

The firm has a history of guiding brands to high-profile exits, including the $845 million acquisition of Drunk Elephant and the sale of Justin’s to Hormel Foods. Their portfolio demonstrates a focus on scaling companies into nationally recognized names.

This firm is a great match for founders building consumer-facing businesses or the retail technology that supports them. They are particularly well-suited for those looking for a hands-on partner to help them scale toward a major acquisition.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture, Private Equity
• Industries of focus: Consumer Goods, Food and Beverage, Beauty, Retail Technology
• Geographical presence: San Francisco
• Founded: 2005
• Notable portfolio companies: KIND Healthy Snacks, Spindrift, Quest Nutrition

You can refer to their website here.

3. Branded Hospitality

Branded Hospitality is an investment firm that backs companies at the intersection of hospitality and technology. They focus on ventures and solutions that influence how restaurants, retail, and consumer experiences operate.

The firm invests across a wide range of stages, from seed rounds to private equity, with a clear interest in operational technology for the hospitality sector. Their portfolio includes Bbot, a QR-code payment platform acquired by DoorDash, and the fast-casual chain Big Chicken, founded by Shaquille O’Neal.

This firm is a strong potential partner if your startup provides technology for restaurants and hospitality businesses or is a consumer brand in the food and beverage space. They are well-suited for founders seeking an investor with strong industry connections and a history of guiding companies to strategic acquisitions.

• Investment stages: Convertible Note, Early Stage Venture, Private Equity, Seed, Venture
• Industries of focus: Hospitality, Food and Beverage, Retail Technology, SaaS, Consumer Goods
• Geographical presence: New York
• Founded: 2017
• Notable portfolio companies: Bbot, PourMyBeer, Ottonomy IO, Chowly, Big Chicken

You can refer to their website here.

4. Camber Creek

Camber Creek is a venture capital firm that invests in technology companies transforming the real estate industry. They provide both capital and strategic advice to startups building solutions for commercial properties and retail environments.

The firm has a history of backing companies to significant outcomes, such as the smart-lock platform Latch, which went public in a $1.56 billion SPAC merger. Their focus is clearly on "proptech," or technology that improves how people experience and manage physical spaces.

Camber Creek is a strong match for founders whose technology applies to the built world, especially at the intersection of retail and real estate. If you are developing solutions for property management, in-store analytics, or smart building infrastructure, their deep industry expertise could be a major asset.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Commercial Real Estate, Retail Technology, Smart Home
• Geographical presence: Rockville, MD
• Founded: 2009
• Notable portfolio companies: Latch, Arcadia, Clearedge3D

You can refer to their website here.

5. Silicon Road Ventures

Silicon Road Ventures is a venture capital fund that invests exclusively in commerce technology. They focus on startups building the next generation of tools for e-commerce, retail, and supply chain management.

The firm invests at the seed and early stages, backing companies with strong potential in their niche. Their portfolio includes Perch, an Amazon brand aggregator that became a unicorn, and SquarePeg, an AI-powered hiring platform.

Silicon Road is a great fit for founders who want a partner with deep expertise in the commerce ecosystem. Their narrow focus suggests they can provide targeted support beyond just capital.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Commerce Tech, E-Commerce, FinTech, Retail Technology, Supply Chain Management
• Geographical presence: Atlanta
• Founded: 2019
• Notable portfolio companies: Perch, SoftWear Automation, WeStock

You can refer to their website here.

6. RevTech Ventures

RevTech Ventures is a Dallas-based venture capital firm that concentrates on the retail technology sector. They are known for backing early-stage companies that are shaping the future of e-commerce and retail experiences.

The firm primarily invests at the seed and early stages, providing foundational capital to promising startups. Their portfolio highlights a clear focus on retail innovation, with successes like e-commerce infrastructure provider Cart.com, which surpassed a $1 billion valuation, and Clutch, a vehicle-subscription platform acquired by Cox Automotive.

RevTech is an ideal partner if you are an early-stage founder building technology for the retail and e-commerce industries. Their specific industry focus means they bring relevant expertise and connections, not just capital, to the table.

• Investment stages: Seed, Early Stage Venture, Convertible Note, Venture
• Industries of focus: Retail Technology, E-Commerce, Retail
• Geographical presence: Dallas, TX
• Founded: 2011
• Notable portfolio companies: Cart.com, FindMine, Gardenuity, Clutch

You can refer to their website here.

7. Commerce Ventures

Commerce Ventures is a venture capital firm that invests in companies across the commerce, fintech, and insurance sectors. They back startups that are building the infrastructure for modern business operations.

The firm has a clear focus on infrastructure technology, with a portfolio full of companies that became unicorns or had major exits, like the payments platform Bill.com. Their track record shows a pattern of backing foundational software platforms from seed to later stages, including companies like Forter and Socure.

This firm is a good fit for founders building B2B software in retail tech, fintech, or insurtech, especially those creating core infrastructure. If your company has the potential to become a category-defining platform, their experience with scaling and successful exits could be valuable.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: E-Commerce, FinTech, InsurTech, Retail Technology, Software
• Geographical presence: San Francisco
• Founded: 2012
• Notable portfolio companies: Bill.com, Forter, Socure, Vestwell, InAuth

You can refer to their website here.

8. Overton Venture Capital

Overton Venture Capital is a consumer-focused firm that invests in seed-stage companies. Based in New York, they back founders in sectors including enterprise software, retail technology, and wellness.

The firm has a clear focus on early-stage investments and a strong record of guiding companies to successful acquisitions. Their portfolio includes notable exits like employee engagement software Kona and D2C home-furnishings brand The Inside.

Overton is a compelling choice for seed-stage founders building consumer-facing businesses or enterprise tools. Their history of successful exits suggests they are a valuable partner for companies aiming for an acquisition.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Enterprise Software, Retail Technology, Wellness
• Geographical presence: New York
• Founded: 2018
• Notable portfolio companies: Kona, The Inside, Wethos, Joylux
• Portfolio exits: The firm has four successful exits from its portfolio.

You can refer to their website here.

9. Align Ventures

Align Ventures is a New York-based venture capital firm that backs high-growth companies aiming to reshape the consumer experience. Their investment focus includes e-commerce and retail technology.

The firm’s portfolio is notable for its inclusion of major consumer brands that have achieved significant scale, including Airbnb and Impossible Foods. This suggests a focus on backing companies with the potential to become household names and market leaders.

Align Ventures is a good match for founders with ambitious consumer-focused ideas who are aiming for significant market impact. Their willingness to invest from seed to late stage makes them a potential long-term partner for companies on a high-growth trajectory.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: E-Commerce, Retail Technology
• Geographical presence: New York
• Founded: 2018
• Notable portfolio companies: Airbnb, Coursera, FIGS, Impossible Foods, Klarna
• Portfolio exits: The firm has five successful exits.

You can refer to their website here.

10. Fab Co-Creation Studio Ventures

Fab Co-Creation Studio Ventures is a Los Angeles-based firm that invests in early-stage companies, with a focus on conscious beauty, fashion, and retail technology. They specialize in direct-to-consumer brands and the commerce platforms that support them.

The firm's portfolio shows a clear commitment to impact-driven companies, particularly in sustainability and ethical consumerism. Notable investments include Kintra Fibers, which creates biodegradable textiles, and the circular logistics platform SuperCircle.

This firm is an excellent match if you are building a mission-driven consumer brand in beauty or fashion. They are also a good fit for founders creating the retail technology that powers sustainable and conscious commerce.

• Investment stages: Seed, Early Stage Venture, Venture
• Industries of focus: Conscious Beauty & Fashion, E-Commerce Platforms, Retail Technology, Impact Investing
• Geographical presence: Los Angeles
• Founded: 2020
• Notable portfolio companies: DAMDAM Tokyo, Function Health, Kintra Fibers, SuperCircle
• Portfolio exits: The firm has two successful exits.

You can refer to their website here.

11. Lumia Capital

Lumia Capital is an expansion-stage venture firm that helps US and European companies achieve international growth. They partner with innovators to scale their operations into new global markets.

The firm specializes in guiding companies through international expansion, a distinct focus in the venture world. Their track record includes major exits like the $3.1 billion acquisition of Careem by Uber and the successful IPO of PagerDuty.

Lumia Capital is a strong partner for founders of expansion-stage companies who are ready to scale internationally. If your business has proven traction in the US or Europe and is looking for a partner to enter emerging markets, their expertise is highly relevant.

• Investment stages: Early Stage Venture, Late Stage Venture, Secondary Market
• Industries of focus: SaaS, FinTech, Retail Technology, Enterprise
• Geographical presence: San Francisco
• Founded: 2011
• Notable portfolio companies: Careem, PagerDuty, Kabbage
• Portfolio exits: The firm has 16 successful exits.

You can refer to their website here.

12. Mu Ventures

Mu Ventures is a New York-based firm focused on pre-seed and seed-stage investments in commerce enablement. They back startups creating the foundational tools and platforms that power modern retail.

The firm concentrates on the infrastructure of e-commerce, backing companies that provide essential services like payments and automation. Their portfolio includes B2B payments platform Balance and no-code automation tool Alloy Automation, showing a clear preference for B2B software.

Mu Ventures is a strong fit for founders at the earliest stages who are building B2B software for the commerce ecosystem. If your startup provides infrastructure for payments, logistics, or data, their focused expertise could be a significant advantage.

• Investment stages: Pre-seed, Seed, Early Stage Venture
• Industries of focus: E-Commerce, Retail Technology, SaaS, Payments, Supply Chain Management
• Geographical presence: New York
• Founded: 2022
• Notable portfolio companies: Balance, Alloy Automation, Qonsent
• Portfolio exits: The firm has one successful exit via the merger of Qonsent.

You can refer to their website here.

13. Pereg Ventures

Pereg Ventures is a New York-based venture capital firm that invests in technology companies with a particular focus on businesses driven by data and analytics. They support companies across various growth phases, from early rounds to later stages.

The firm’s portfolio highlights a focus on data-intensive businesses in marketing, retail, and logistics. They have a history of guiding companies to major exits, like the acquisition of Crosswise by Oracle, and scaling others like logistics platform Bringg to achieve global reach.

This firm is a strong match for founders building data-centric platforms, particularly in retail or marketing technology. Their experience is well-suited for companies with a clear strategy for market leadership or a potential strategic acquisition.

• Investment stages: Convertible Note, Early Stage Venture, Late Stage Venture
• Industries of focus: Analytics, Big Data, Retail Technology, Marketing, Logistics
• Geographical presence: New York
• Founded: 2014
• Notable portfolio companies: Bringg, RetailNext, Onclusive, Crosswise (acquired by Oracle)
• Portfolio exits: The firm has 7 successful exits.

You can refer to their website here.

14. Better Food Ventures

Better Food Ventures invests in early-stage technology companies aiming to create a positive impact in the food and agriculture sectors. They back innovators at the seed and early stages who are building practical solutions for the modern food system.

The firm has a strong track record of guiding companies to successful exits, including the healthy-snack subscription service Love With Food and Nima Sensor, a portable food testing device. Their portfolio highlights a focus on technology that improves efficiency, from AI for grocery retailers to smart lighting for greenhouses.

Better Food Ventures is a strong match for founders building technology for the food and agriculture industries, especially at the seed or early stages. If your business has an impact-driven mission and you value a partner with a proven history of successful acquisitions, they are worth considering.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Agriculture, AgTech, Food and Beverage, Retail Technology, Machine Learning
• Geographical presence: Menlo Park, CA
• Founded: 2013
• Notable portfolio companies: Afresh Technologies, Love With Food (acquired), Nima Sensor (acquired), LumiGrow (acquired)
• Portfolio exits: The firm has four successful exits from its portfolio.

You can refer to their website here.

What This Tells Us About The VC Scene for Retail Technology Companies

This overview shows that the investor community for retail technology is well-developed, with capital available for companies at nearly every stage. While many firms on our list invest from seed to exit, there is a significant group dedicated specifically to pre-seed and early-stage rounds. This is encouraging for founders just starting out, as it signals strong foundational support for new ideas in the sector.

Geographically, investors are concentrated in major hubs like New York and San Francisco, a practical point to consider in your fundraising plan. The variety of focus areas—from broad e-commerce to specific niches like food tech—means you can find partners who truly understand your business. Once funding is secured, Rho’s integrated financial tools, including business banking, corporate cards, and automated bill pay, help you manage and deploy that capital efficiently.

Raise Confidently with Rho

Having a focused list of relevant investors is critical when your time and energy are limited. We hope this guide helps you connect with the right partners for your Retail Technology company.

Once you secure funding, the next step is managing it well. If you’ve just raised, Rho can help you set up your financial stack in minutes.

Our platform provides integrated business banking, corporate cards, and automated bill pay. These tools are designed to help you deploy your new capital with confidence and control.

FAQs about Venture Capital Firms Focused on Retail Technology

Which are the most active venture capital firms in retail?

Activity levels change, but firms like Forerunner, Commerce Ventures, and VMG Partners are consistently active. The best approach is to track recent funding announcements in your niche to see which investors are currently writing checks for retail technology companies.

What do consumer focused venture capital firms look for?

These firms look for a deep understanding of your target customer and a clear brand story. They want to see evidence of early traction, a strong founding team, and a large, addressable market for your consumer product or service.

Why are there so many consumer venture capital firms in NYC?

New York City is a global hub for retail, fashion, and media, creating a dense network of industry talent and corporate partners. This ecosystem makes it an ideal location for VCs focused on consumer brands and retail technology.

How do you find the right early stage venture capital firms?

Look at the portfolios of firms that invest in your stage. See which VCs have backed companies similar to yours, but not direct competitors. Warm introductions from founders in their portfolio are often the most effective way to connect.

What should you do after securing funding from a VC firm?

After closing your round, focus on responsible capital management. Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.

How can Rho help my startup manage its new funding?

With Rho, you can set up your financial stack in minutes. Our platform provides integrated business banking, corporate cards, and automated bill pay, helping you deploy your new capital with confidence and control.