Top 14 Venture Capital Firms Investing in Retail Technology Startups

When you're preparing to raise capital for your Retail Tech startup, knowing which investors to approach is critical. The venture capital world is vast, and connecting with firms that truly understand the e-commerce and consumer product space can make all the difference in your fundraising process.

To help you find the right partners, our team has curated this overview of top venture capital firms that actively invest in Retail Technology. Use this guide to quickly identify the investors who are most relevant to your business.

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

Knowing which investors to approach is crucial at every stage, from your first round to a potential exit. Here is a quick overview of venture capital firms that invest in retail technology, organized by the stages they focus on.

Pre-seed and Seed VC Firms in Retail Technology

Pre-seed and seed rounds are your first institutional funding, designed to help you find product-market fit and build your initial team. For founders in this phase, technology VC firms like Silicon Road Ventures and Mu Ventures focus exclusively on commerce tech, while micro VC firms such as Overton Venture Capital also target seed-stage consumer companies.

Early Stage VC Firms in Retail Technology

Early-stage funding, typically Series A and B, is for startups with proven traction that need capital to scale their operations and accelerate growth. Some of the most active venture capital firms in this space include Forerunner Ventures, a well-known consumer-focused firm, and VMG Partners, which backs consumer brands and the technologies that power them. Another key player is Commerce Ventures, which invests across e-commerce, retail, and fintech.

Late Stage VC Firms in Retail Technology

Late-stage venture capital is for established companies looking for significant capital to expand into new markets, make acquisitions, or prepare for an IPO. If your company has reached this level of maturity, you might approach global venture capital firms like Lumia Capital, which helps companies expand internationally, or Align Ventures, known for backing companies through to successful public offerings.

It's also worth noting that many VC firms invest across multiple stages, from seed to late-stage growth rounds.

To help you find the right fit, we've compiled details on the top VC firms in retail technology. You'll find information on their preferred investment stages, geographic focus, and what distinguishes each firm for founders.

1. Forerunner

Forerunner is a venture capital firm dedicated to backing founders who have a deep understanding of the modern consumer. They invest in both consumer-facing brands and the underlying technologies that shape how people shop and manage their finances.

The firm is known for its portfolio of category-defining companies, including Warby Parker, Dollar Shave Club, and Chime. Their approach is centered on identifying shifts in consumer behavior and backing businesses that meet those evolving needs.

Forerunner is an excellent partner for founders building ambitious consumer brands or retail technology platforms. If your company has a strong point of view on its target audience and a clear brand vision, this firm could be a great fit.

• Investment stages: Seed, early, and late-stage venture
• Industries of focus: Retail, retail technology, and fintech
• Geographical presence: Based in San Francisco
• Founded: 2010
• Notable investments: Warby Parker, Faire, Chime, and Dollar Shave Club
• Portfolio size: Over 260 investments

You can refer to their website here.

2. VMG Partners

VMG Partners is a private equity and venture capital firm that works with founders to grow consumer brands and the technologies that power them. They have a clear focus on helping build companies into iconic, household names.

The firm is distinguished by its track record of high-profile exits in the consumer space, including the $845 million acquisition of Drunk Elephant by Shiseido and the $1 billion sale of Quest Nutrition. This history shows their ability to help brands scale significantly.

VMG is a strong potential partner if you are building a consumer product or a retail technology platform with mass-market appeal. They are a good fit for founders looking for a hands-on investor to help navigate growth.

• Investment stages: Seed, early, and late-stage venture; private equity
• Industries of focus: Consumer goods, food and beverage, beauty, and retail technology
• Geographical presence: Based in San Francisco
• Founded: 2005
• Notable investments: Justin’s, Quest Nutrition, Drunk Elephant, Spindrift, and KIND Healthy Snacks
• Portfolio size: Over 50 investments

You can refer to their website here.

3. Branded Hospitality

Branded Hospitality is an investment and advisory firm that focuses on the intersection of hospitality, food and beverage, and technology. They back companies that are innovating in how consumers dine, drink, and interact with hospitality brands.

The firm's portfolio highlights a dual focus on both B2B technology solutions and consumer-facing brands. They have backed successful tech platforms like Bbot, a QR-code payment system acquired by DoorDash, alongside fast-growing consumer chains like Big Chicken, founded by Shaquille O’Neal.

This firm is an ideal partner for founders building technology for the restaurant and hospitality industries or launching a consumer brand in the food and beverage space. They are a good fit if you're looking for an investor with deep operational experience and industry connections.

• Investment stages: Seed, early-stage venture, and private equity
• Industries of focus: Hospitality, food and beverage, and retail technology
• Geographical presence: Based in New York
• Founded: 2017
• Notable investments: Bbot, PourMyBeer, Ottonomy IO, and Big Chicken
• Portfolio size: Over 70 investments

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 advisory services to help their portfolio companies grow.

The firm has a distinct focus on property technology, with a portfolio that demonstrates a track record of successful exits. They have backed companies like Latch, a smart-lock platform that went public, and Arcadia, a utility-data platform that achieved unicorn status.

Camber Creek is a great match for founders building technology solutions for the real estate sector, from smart building hardware to financial platforms. If your startup has a direct application for property owners, managers, or tenants, their industry expertise could be a significant asset.

• Investment stages: Seed, early, and late-stage venture
• Industries of focus: Real estate technology, retail technology, and smart home
• Geographical presence: Based in Rockville, Maryland
• Founded: 2009
• Notable investments: Latch, Arcadia, Clearedge3D, and 42Floors
• Portfolio size: Over 70 investments

You can refer to their website here.

5. Silicon Road Ventures

Silicon Road Ventures is a venture capital firm that invests exclusively in commerce technology. Their focus is on startups building the future of how goods are bought, sold, and moved.

The firm's portfolio shows a clear commitment to its commerce-tech thesis, backing companies like Perch, an FBA brand aggregator that reached unicorn status. They also invest in adjacent areas like HR tech, recently backing an AI-powered hiring platform.

This firm is a strong choice for founders creating software or technology for e-commerce, fintech, or supply chain management. If your startup addresses a specific challenge within the commerce ecosystem, their specialized focus could be a great advantage.

• Investment stages: Seed and early-stage venture
• Industries of focus: Commerce tech, e-commerce, fintech, and supply chain management
• Geographical presence: Based in Atlanta
• Founded: 2019
• Notable investments: Perch, SoftWear Automation, and WeStock
• Portfolio size: 37 investments

You can refer to their website here.

6. RevTech Ventures

RevTech Ventures is a venture capital firm based in Dallas that concentrates on retail technology. They support early-stage founders who are creating new solutions for the e-commerce and retail industries.

The firm’s portfolio demonstrates a focus on both B2B retail infrastructure and direct-to-consumer brands. They have backed notable companies like Cart.com, an e-commerce provider that achieved unicorn status, and Clutch, a vehicle-subscription platform acquired by Cox Automotive.

RevTech is an ideal partner for founders building technology for the retail sector or launching a consumer brand with a strong tech component. If you want an investor with specific expertise in this market, this firm is a strong candidate.

• Investment stages: Seed, early-stage venture, and convertible notes
• Industries of focus: Retail, retail technology, and e-commerce
• Geographical presence: Based in Dallas, Texas
• Founded: 2011
• Notable investments: Cart.com, FindMine, Gardenuity, and Clutch
• Portfolio size: 53 investments

You can refer to their website here.

7. Commerce Ventures

Commerce Ventures is a venture capital firm that invests in the infrastructure powering commerce and financial services. They back companies in sectors like e-commerce, retail technology, fintech, and insurance.

The firm has a strong track record of backing foundational technology companies that go on to achieve significant scale. Their portfolio includes major successes like the publicly-traded platform Bill.com and the fraud-prevention unicorn Forter.

Commerce Ventures is a great potential partner if you are building core infrastructure for the retail or financial services industries. Founders creating platforms for payments, identity verification, or e-commerce enablement would find their expertise valuable.

• Investment stages: Seed, early, and late-stage venture
• Industries of focus: E-commerce, retail technology, fintech, and insurance
• Geographical presence: Based in San Francisco
• Founded: 2012
• Notable investments: Bill.com, Forter, Socure, and Vestwell
• Portfolio size: Over 190 investments

You can refer to their website here.

8. Overton Venture Capital

Overton Venture Capital is a micro VC firm that concentrates on seed-stage consumer companies. Based in New York, they provide early funding to startups in sectors like retail technology and wellness.

The firm has a strong record of successful exits, including the acquisitions of home-furnishings brand The Inside and freight-pricing platform Greenscreens.ai. Their portfolio also includes fast-growing companies like Wethos, a platform for freelance teams.

Overton is a good match for seed-stage founders building consumer brands or enterprise software for the retail and wellness industries. Their track record suggests they are a good partner for companies with a clear path to an acquisition.

• Investment stages: Seed and early-stage venture
• Industries of focus: Retail technology, enterprise software, and wellness
• Geographical presence: Based in New York
• Founded: 2018
• Notable investments: Kona, Greenscreens.ai, The Inside, and Wethos
• Portfolio size: 27 investments with 4 exits

You can refer to their website here.

9. Align Ventures

Align Ventures is a venture capital fund that invests in high-growth businesses that are changing the consumer experience. They back companies with the potential to become widely recognized brands.

The firm is distinguished by its track record of supporting companies through to successful public offerings. Their portfolio includes major names like Airbnb, Coursera, and FIGS, all of which completed high-profile IPOs, signaling a focus on businesses with massive scale.

Align Ventures is a strong match for founders of late-stage companies with proven market traction and a strong consumer following. If your business is on a clear path to an IPO, this firm has the experience to support that journey.

• Investment stages: Seed, early, and late-stage venture
• Industries of focus: E-commerce and retail technology
• Geographical presence: Based in New York
• Founded: 2018
• Notable investments: Airbnb, Coursera, FIGS, Impossible Foods, and Klarna
• Portfolio size: 24 investments

You can refer to their website here.

10. Fab Co-Creation Studio Ventures

Fab Co-Creation Studio Ventures is an investment firm that backs early-stage companies centered on conscious consumerism. They focus on direct-to-consumer brands and enabling technologies within the beauty, fashion, and retail industries.

The firm shows a distinct commitment to sustainability and impact, which is reflected in its portfolio. They support material-science innovators like Kintra Fibers, which creates biodegradable textiles, and circular economy platforms like SuperCircle, which powers apparel take-back programs.

Fab Co-Creation is a strong potential partner for founders building brands with an ethical or environmental mission. If your company is developing sustainable products or new technologies for the beauty and fashion sectors, their specialized approach would be highly relevant.

• Investment stages: Seed and early-stage venture
• Industries of focus: Conscious beauty and fashion, e-commerce, and retail technology
• Geographical presence: Based in Los Angeles
• Founded: 2020
• Notable investments: Kintra Fibers, SuperCircle, Trendio, and DAMDAM Tokyo
• Portfolio size: 25 investments

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 significant growth by expanding into international markets. They provide capital and strategic support to businesses that are ready to scale globally.

The firm’s defining feature is its focus on international expansion as a catalyst for growth. Their portfolio includes major exits like the $3.1 billion acquisition of Careem by Uber and the IPO of PagerDuty, showing a track record of backing companies to successful outcomes.

Lumia Capital is a great fit for founders of mature, expansion-stage companies ready to scale globally. If your business has a strong foothold in its home market, their expertise can be instrumental in your international strategy.

• Investment stages: Early, late-stage, and expansion-stage venture
• Industries of focus: SaaS, fintech, and retail technology
• Geographical presence: Based in San Francisco
• Founded: 2011
• Notable investments: Careem, PagerDuty, and Kabbage
• Portfolio size: 52 investments

You can refer to their website here.

12. Mu Ventures

Mu Ventures is a New York-based venture capital firm that invests in pre-seed and seed-stage companies building commerce enablement technologies.

The firm concentrates on the foundational software that powers e-commerce, with portfolio companies like Alloy Automation, a no-code platform, and Balance, a B2B payments provider. They also have a recent exit with the merger of Qonsent, a data-privacy platform.

Mu Ventures is a good fit for founders at the earliest stages who are building the picks and shovels for the modern commerce industry. If your startup provides infrastructure for payments, logistics, or e-commerce operations, their specific focus could be a strong asset.

• Investment stages: Pre-seed and seed
• Industries of focus: Commerce enablement, e-commerce, retail technology, and SaaS
• Geographical presence: Based in New York
• Founded: 2022
• Notable investments: Balance, Alloy Automation, and Qonsent
• Portfolio size: 20 investments

You can refer to their website here.

13. Pereg Ventures

Pereg Ventures is a New York-based venture capital firm that invests in companies building data-driven technologies. They focus on sectors like retail technology, marketing, and logistics, backing businesses that use analytics to create value.

The firm has a clear focus on enterprise technology, with a portfolio that includes logistics platform Bringg and in-store analytics provider RetailNext. Their track record includes the high-profile acquisition of Crosswise by Oracle, demonstrating their ability to support companies toward significant exits.

Pereg Ventures is a good match for founders building B2B software, especially platforms centered on data and analytics. If your startup provides solutions for the retail, marketing, or logistics industries, their expertise could be a strong asset.

• Investment stages: Early, late-stage, and venture
• Industries of focus: Retail technology, marketing, analytics, and logistics
• Geographical presence: Based in New York
• Founded: 2014
• Notable investments: Bringg, RetailNext, and Crosswise (acquired by Oracle)
• Portfolio size: 20 investments

You can refer to their website here.

14. Better Food Ventures

Better Food Ventures is a venture capital firm that backs technology innovators creating a positive impact in the food and agriculture industries. They support companies developing solutions that can improve the food system now.

The firm has a distinct focus on technology-driven companies, from AI-powered software to hardware devices. Their portfolio shows a strong track record of successful exits, with companies like Love With Food and Nima Sensor being acquired after establishing a market presence.

Better Food Ventures is an excellent match for early-stage founders building technology for the food and agriculture sectors, particularly those with a mission-driven approach. If your startup has a clear path to an acquisition, their experience guiding companies to successful exits could be invaluable.

• Investment stages: Seed and early-stage venture
• Industries of focus: Food and beverage, AgTech, and retail technology
• Geographical presence: Based in Menlo Park, California
• Founded: 2013
• Notable investments: Afresh Technologies, Love With Food (acquired), Nima Sensor (acquired), and LumiGrow (acquired)
• Portfolio size: 20 investments with 4 exits

You can refer to their website here.

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

The venture capital support for companies in retail technology is well-distributed, offering opportunities at nearly every point in their journey. Our list shows a healthy mix of firms focused on early-stage startups and those that provide later-stage growth capital. This balance suggests a stable and mature sector for founders.

You can also see a notable geographic spread, with active investors in major hubs like New York and San Francisco as well as in cities like Atlanta and Dallas. The variety of investor types—from those with a tight focus on commerce tech to others backing sustainable brands—means you have a real opportunity to find a partner whose expertise aligns with your specific mission and business model.

Raise Confidently with Rho

Fundraising requires significant time and energy, making a focused list of investors essential. Approaching the right firms from the start improves your chances of securing a great partner for your company.

Once your round is closed, the work of managing that capital begins. If you’ve just raised, Rho can help you set up your financial stack in minutes.

Our platform provides the tools your startup needs to manage its new funding with clarity and control. We offer integrated business banking, corporate cards, and automated bill pay, all in one place.

FAQs about Venture Capital Firms Focused on Retail Technology

What are the most active venture capital firms in retail technology?

Activity levels change, but firms like Forerunner, Commerce Ventures, and VMG Partners are consistently active in the consumer and retail sectors. It is wise to check their recent investments to gauge their current focus and pace.

Are there many consumer venture capital firms in NYC?

Yes, New York is a major hub for consumer-focused VCs. Our list includes several, such as Branded Hospitality, Overton Venture Capital, and Align Ventures, each with a unique focus on consumer brands and the technologies that support them.

What is a micro venture capital firm?

A micro VC is a smaller venture firm that typically invests in seed-stage companies. They write smaller checks than larger funds but often provide focused support. Overton Venture Capital is a good example from our list.

How can I find women-led venture capital firms?

You can find women-led VCs through networks like All Raise or by researching firms on our list. For example, Forerunner was founded by Kirsten Green and is a prominent investor in the consumer and retail space.

How should I manage my capital after fundraising?

Once your round is closed, managing your new capital effectively is crucial. Our platform offers integrated banking, corporate cards, and spend management to give you full control. You can get started with Rho in minutes.