Top 14 Venture Capital Firms Investing in Retail Technology Startups

When you’re preparing to raise capital, knowing which investors are active in your industry is critical. For founders in Retail Technology, this means identifying the venture capital firms that understand the nuances of e-commerce and consumer products.

To help you find the right partners, our team has curated this overview of the top VC firms in the space. Use this guide to quickly learn about relevant investors before or during your fundraise.

Actively raising? You can now access non-dilutive funding options like venture debt and credit lines through Rho Capital. Rho also provides access to business banking, corporate cards, and bill pay—built for startup teams moving fast.

Key Takeaways

• Securing venture funding provides Retail Technology startups with the capital needed for growth, product development, and market expansion.
• Leading firms active in the Retail Technology sector include Forerunner, VMG Partners, Branded Hospitality, and Camber Creek, known for backing innovative consumer-focused companies.
• Once you close a round, Rho helps you manage your new capital with integrated business banking, corporate cards, and automated bill pay.

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

Whether you're an early-stage company or preparing for an exit, knowing the right investors to talk to makes all the difference. This overview breaks down the top VC firms in Retail Technology by the stage at which they typically invest.

Pre-seed and Seed VC Firms in Retail Technology

Pre-seed and seed funding is the earliest capital you'll raise, typically used to validate your idea, build a minimum viable product, and find initial market fit. Some consumer venture capital firms that focus on this stage include Mu Ventures, Silicon Road Ventures, and Overton Venture Capital.

Early Stage VC Firms in Retail Technology

Early-stage funding, which includes Series A and B rounds, provides the capital to scale your team, accelerate customer acquisition, and expand your market presence. For founders in retail technology, notable early-stage venture capital firms are Forerunner Ventures, Commerce Ventures, and RevTech.

If you're looking for financing that complements an equity round, Rho Capital can connect you to non-dilutive options like venture debt and credit lines. Our team helps you access capital tailored to your business model without the complexities of traditional lending.

Late Stage VC Firms in Retail Technology

Late-stage rounds are designed for established companies looking to achieve significant scale, enter new markets, or prepare for an exit through an acquisition or IPO. Technology VC firms that participate in these later rounds include VMG Partners, Align Ventures, and Lumia Capital.

Once you secure a new round of funding, Rho’s integrated platform helps you manage it effectively. With business banking, corporate cards, and automated bill pay in one place, you can deploy your capital with precision and control.

It's also worth noting that many firms, from boutique to global venture capital firms, invest across multiple stages, from seed to exit.

To help you identify the right investors, here is a closer look at the top VC firms focused on the Retail Technology sector. We’ve included key details on their investment stages, geographic focus, and what makes each firm a notable partner for founders.

1. Forerunner

Forerunner is a venture capital firm that invests in companies built for the modern consumer. They focus on identifying and backing brands that resonate with contemporary customer behaviors and values.

The firm is known for its deep understanding of consumer trends and its portfolio of category-defining companies. Their track record includes major names like Warby Parker, Dollar Shave Club, and Chime, showing a clear focus on direct-to-consumer and fintech businesses that have achieved significant scale.

Forerunner is an ideal partner if you are building a consumer-centric brand with the ambition to become a household name. They are well-suited for founders who value a product-focused approach and want an investor with a history of backing market leaders.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Retail Technology, FinTech, Internet, Consumer
• Geographical presence: San Francisco, CA
• Founded: 2010
• Notable portfolio companies: Chime, Faire, Warby Parker, 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 invests in consumer brands and the technologies that power them. They partner with founders to support growth from the early stages through to a successful exit.

The firm is known for scaling consumer product companies into household names, with a track record of high-profile exits. These include the sale of Justin's to Hormel Foods and the Drunk Elephant acquisition by Shiseido.

VMG is a great fit for founders building a physical product brand with ambitions for wide distribution. They are ideal for teams seeking a hands-on investor with a proven playbook for scaling consumer businesses.

• 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, CA
• Founded: 2005
• Notable portfolio companies: Drunk Elephant, Quest Nutrition, KIND Healthy Snacks, Spindrift
• Portfolio size: 51 investments

You can refer to their website here.

3. Branded Hospitality

Branded Hospitality is an investment firm backing companies at the intersection of hospitality, media, and technology. They focus on driving growth for ventures that are innovating in both the consumer and B2B spaces.

The firm supports a mix of technology solutions and consumer brands, from SaaS platforms to fast-casual restaurants. Their portfolio demonstrates a focus on both technology and brand, featuring successful exits like the Bbot acquisition by DoorDash and high-profile companies like Shaquille O’Neal’s Big Chicken.

Branded Hospitality is a strong potential partner for founders building technology for the restaurant and hospitality industries. They are also a good fit for consumer brands in the food and beverage sector seeking strategic capital.

• Investment stages: Seed, Early Stage Venture, Private Equity
• Industries of focus: Hospitality, Food and Beverage, Retail Technology, SaaS
• Geographical presence: New York, NY
• Founded: 2017
• Notable portfolio companies: Bbot, PourMyBeer, Big Chicken, Chowly
• Portfolio size: 73 investments

You can refer to their website here.

4. Camber Creek

Camber Creek is a venture capital firm that provides capital and advisory services to companies in the real estate technology sector. They focus on businesses transforming how people and companies interact with physical spaces.

The firm has a clear focus on "proptech," with a portfolio that spans from smart-home platforms to commercial real estate software. Their track record includes successful exits like the Latch SPAC merger and Arcadia, which reached unicorn status, demonstrating their ability to back market-defining companies.

Camber Creek is an ideal partner for founders building technology for the real estate industry, including retail applications within physical properties. They are a strong fit for teams seeking an investor with deep operational expertise in this specific market.

After securing a round with a specialized firm like Camber Creek, Rho can help you manage your new capital. Our integrated platform provides business banking, corporate cards, and automated bill pay to help you deploy funds with control and visibility.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Real Estate Technology, Retail Technology, Smart Home
• Geographical presence: Rockville, MD
• Founded: 2009
• Notable portfolio companies: Latch, Arcadia, Clearedge3D, 42Floors
• Portfolio size: 72 investments

You can refer to their website here.

5. Silicon Road Ventures

Silicon Road Ventures is a venture capital firm exclusively focused on commerce technology. They back startups building the next generation of e-commerce, retail, and supply chain solutions.

The firm's sharp focus on commerce tech gives them deep expertise in the sector. Their portfolio includes the commerce-tech unicorn Perch, demonstrating their ability to back companies that achieve significant scale.

Silicon Road is a strong potential partner for early-stage founders building technology for the commerce ecosystem. They are a great fit for teams seeking an investor with specialized knowledge in retail and e-commerce.

After securing a round with a specialized firm like Silicon Road, Rho can help you manage your new capital. Our integrated platform provides business banking, corporate cards, and automated bill pay to help you deploy funds with control and visibility.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: E-Commerce, FinTech, Retail Technology, Software, Supply Chain Management
• Geographical presence: Atlanta, GA
• Founded: 2019
• Notable portfolio companies: Perch, SoftWear Automation, WeStock, SquarePeg
• Portfolio size: 37 investments

You can refer to their website here.

6. RevTech Ventures

RevTech Ventures is a Dallas-based firm that invests exclusively in retail and e-commerce technology. They provide early-stage capital to startups that are shaping the future of how consumers shop.

The firm's portfolio highlights a clear focus on companies building foundational commerce infrastructure, including the unicorn Cart.com. Their track record also includes a successful exit with Clutch's acquisition by Cox Automotive, signaling their ability to guide companies toward strong outcomes.

RevTech is a good match for founders building technology for the retail sector, whether it's a B2B platform or a direct-to-consumer brand. They are best suited for early-stage teams looking for a specialist investor with deep industry connections.

After you close a round with a specialist firm like RevTech, Rho can help you manage your new capital. Our integrated platform provides business banking, corporate cards, and automated bill pay to help you deploy funds with control and visibility.

• Investment stages: Seed, Early Stage Venture, Convertible Note
• Industries of focus: Retail Technology, E-Commerce, Retail
• Geographical presence: Dallas, TX
• Founded: 2011
• Notable portfolio companies: Cart.com, FindMine, Gardenuity, 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 companies shaping the future of commerce and financial services. They back startups across retail technology, e-commerce, fintech, and insurance.

The firm is known for backing foundational technology platforms that achieve significant scale, including unicorns like Forter and Socure. Their portfolio shows a clear pattern of investing in companies that become leaders in their categories, with successful exits like the InAuth acquisition by American Express.

Commerce Ventures is a great match for founders building infrastructure for the retail and financial industries. They are well-suited for teams with a clear vision for market leadership and a product that can scale to serve a large enterprise customer base.

After securing a round with a specialized firm like Commerce Ventures, Rho can help you manage your new capital. Our integrated platform provides business banking, corporate cards, and automated bill pay to help you deploy funds with control and visibility.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: Retail Technology, E-Commerce, FinTech, InsurTech
• Geographical presence: San Francisco, CA
• Founded: 2012
• Notable portfolio companies: Bill.com, Forter, Socure, InAuth
• Portfolio size: Over 190 investments

You can refer to their website here.

8. Overton Venture Capital

Overton Venture Capital is a seed-stage firm that invests in consumer-focused businesses. They provide foundational capital to startups innovating in retail, wellness, and enterprise software.

As a micro VC, their focus is on seed and early-stage rounds, with a track record of guiding companies to successful exits. Notable portfolio companies include the acquired home-furnishings brand The Inside and the fast-growing freelance platform Wethos.

Overton is a strong match for founders building consumer-centric companies at the earliest stages. They are an ideal partner if you are seeking a specialist investor with experience helping startups reach an acquisition.

After you close a round with a specialist firm like Overton, Rho can help you manage your new capital. Our integrated platform provides business banking, corporate cards, and automated bill pay to help you deploy funds with control and visibility.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Retail Technology, Enterprise Software, Wellness
• Geographical presence: New York, NY
• Founded: 2018
• Notable portfolio companies: Kona, The Inside, Wethos, Joylux
• Portfolio size: 27 investments

You can refer to their website here.

9. Align Ventures

Align Ventures is a venture capital firm that invests in high-growth businesses transforming the consumer experience. The firm is notable for its portfolio of iconic, market-leading brands that have achieved significant scale, including Airbnb, FIGS, and Klarna.

This track record signals a focus on backing companies with the potential for major outcomes, such as a public offering or unicorn valuation. Align Ventures is a strong match for founders building ambitious consumer brands with a clear path to high growth and an interest in working with an investor experienced in guiding companies to a successful IPO.

Once you secure a round with a firm like Align Ventures, our team at Rho can help you manage your new capital. Our integrated platform provides business banking, corporate cards, and automated bill pay to help you deploy funds with precision and control.

• Investment stages: Seed, Early Stage Venture, Late Stage Venture
• Industries of focus: E-Commerce, Retail Technology, Consumer
• Geographical presence: New York, NY
• Founded: 2018
• Notable portfolio companies: Airbnb, Coursera, FIGS, Impossible Foods, Klarna
• Portfolio size: 24 investments

You can refer to their website here.

10. Fab Co-Creation Studio Ventures

Fab Co-Creation Studio Ventures invests in direct-to-consumer brands with a focus on conscious beauty and fashion, along with new commerce and retail technology.

The firm shows a clear commitment to sustainability, backing material-science innovators like Kintra Fibers and circular economy platforms like SuperCircle. Their support for companies like Trendio also signals a focus on new, interactive commerce models.

Fab is a great potential partner for founders building mission-driven consumer brands in beauty or fashion. They are also a strong fit for teams creating technology that supports a more sustainable retail future.

Once you secure funding from a partner like Fab, Rho can help you manage it. Our platform integrates business banking, corporate cards, and bill pay to give you a clear view of your company’s finances.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Beauty, Fashion, E-Commerce, Retail Technology, Impact Investing
• Geographical presence: Los Angeles, CA
• Founded: 2020
• Notable portfolio companies: Kintra Fibers, SuperCircle, Trendio, 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 partners with US and European technology companies to help them scale globally. They focus on providing capital and strategic support for international growth.

The firm is distinguished by its focus on international expansion, helping companies enter new markets. Their track record includes high-profile exits like the Careem acquisition by Uber and the Kabbage acquisition by American Express, demonstrating their ability to back companies that achieve major scale.

Lumia Capital is a great match for founders of expansion-stage companies with proven business models who are ready to scale internationally. They are particularly well-suited for teams in enterprise software and fintech seeking a partner with experience in global markets.

Once you secure a round with a firm focused on global expansion like Lumia Capital, Rho can help you manage it. Our platform integrates business banking, corporate cards, and bill pay to give you a clear view of your company’s finances.

• Investment stages: Early Stage Venture, Late Stage Venture, Debt, Convertible Note
• Industries of focus: Retail Technology, SaaS, FinTech, Enterprise, Emerging Markets
• Geographical presence: San Francisco, CA
• Founded: 2011
• Notable portfolio companies: Careem Networks, PagerDuty, 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 commerce enablement. They focus on providing pre-seed and seed capital to startups building foundational technologies for the retail industry.

The firm has a clear focus on the infrastructure layer of commerce, backing companies in B2B payments and e-commerce automation. Their portfolio includes companies like Balance and Alloy Automation, showing a pattern of investing in core B2B solutions.

Mu Ventures is a good fit for founders at the earliest stages who are building software for e-commerce, payments, or supply chain management. They are an ideal partner if you are seeking a specialist investor with a focus on commerce infrastructure.

After you close a round with a specialist firm like Mu Ventures, Rho can help you manage your new capital. Our integrated platform provides business banking, corporate cards, and automated bill pay to help you deploy funds with control and visibility.

• Investment stages: Pre-seed, Seed
• Industries of focus: Commerce Enablement, Retail Technology, SaaS, FinTech, Supply Chain Management
• Geographical presence: New York, NY
• Founded: 2022
• Notable portfolio companies: Balance, Alloy Automation, Qonsent
• Portfolio size: 20 investments

You can refer to their website here.

13. Pereg Ventures

Pereg Ventures is a New York-based firm that invests in technology companies using data to drive growth. They back businesses across retail technology, marketing, and logistics.

The firm has a clear focus on data and analytics platforms, with portfolio companies like RetailNext providing in-store analytics and Bringg offering logistics technology. Their track record includes the successful exit of Crosswise to Oracle, showing their ability to support companies toward major acquisitions.

Pereg Ventures is a strong potential partner for founders building data-intensive B2B solutions. They are a good fit for teams with a clear path to scaling in the retail, marketing, or financial services sectors.

After securing a round with a firm like Pereg Ventures, Rho can help you manage your new capital. Our integrated platform provides business banking, corporate cards, and automated bill pay to help you deploy funds with control and visibility.

• Investment stages: Early Stage Venture, Late Stage Venture, Convertible Note
• Industries of focus: Retail Technology, Analytics, Big Data, Marketing, Logistics
• Geographical presence: New York, NY
• Founded: 2014
• Notable portfolio companies: Bringg, RetailNext, Crosswise (acquired by Oracle)
• Portfolio size: 20 investments

You can refer to their website here.

14. Better Food Ventures

Better Food Ventures invests in technology companies making a positive impact on the food and agriculture industries. They focus on innovators who are improving the food system now.

The firm has a clear focus on technology in the food and ag sectors, with a track record of guiding companies to successful exits. Their portfolio includes innovators like Afresh Technologies, which uses AI to reduce food waste, signaling a priority for sustainable solutions.

Better Food Ventures is a good match for early-stage founders building technology for the food and agriculture supply chain. They are particularly well-suited for teams focused on sustainability and creating a measurable impact.

After you close a round with a specialist firm like Better Food Ventures, Rho can help you manage your new capital. Our integrated platform provides business banking, corporate cards, and automated bill pay to help you deploy funds with control and visibility.

• Investment stages: Seed, Early Stage Venture
• Industries of focus: Food and Beverage, AgTech, 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 size: 20 investments

You can refer to their website here.

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

This overview shows that the funding environment for companies in retail technology is well-balanced. You’ll find strong support at the early stages from specialist firms, as well as established investors ready to fund later-stage growth. Geographically, while many firms are based in New York and the Bay Area, there are active investors in other cities, giving you options beyond the primary tech hubs.

As you prepare your fundraising strategy, remember that equity isn't the only path. Rho Capital helps founders access non-dilutive financing like venture debt and credit lines, tailored to your stage and business model. Once you secure capital, our integrated platform helps you manage it effectively with business banking, corporate cards, and automated bill pay all in one place.

Raise Confidently with Rho

Fundraising requires your full attention, and having a focused list of relevant investors saves you critical time and energy. We created this guide to help you connect with the right partners for your company in retail technology.

If you’re seeking funding, Rho Capital connects you to non-dilutive funding options like venture debt and credit lines through a fast, guided process. Our team helps you find financing tailored to your business model without the usual complexities.

Once your capital is secured, Rho provides integrated tools to help you manage it. With business banking, corporate cards, and automated bill pay in one platform, you can deploy your funds with clarity and control.

FAQs about Venture Capital Firms Focused on Retail Technology

Which US cities are emerging hubs for retail venture capital firms?

Beyond New York and the Bay Area, cities like Los Angeles, Atlanta, and Dallas are growing hubs for retail technology investment. These locations offer access to specialized investors and strong founder communities without the saturation of traditional tech centers.

Should I approach a specialist or generalist technology VC firm?

Specialist retail VCs offer deep industry knowledge, while generalist firms provide broader networks. If your startup requires specific sector expertise, a specialist is ideal. For broader scaling support, a generalist firm can be a powerful partner.

What metrics do consumer VC firms prioritize?

Consumer-focused VCs typically look for strong unit economics. Key metrics include customer acquisition cost (CAC), lifetime value (LTV), gross margin, and month-over-month revenue growth, as these demonstrate a sustainable business model.

How do I prepare to meet with ecommerce venture capital firms?

Know your key metrics, have a clear go-to-market strategy, and be prepared to articulate your unique value proposition. Research each firm's portfolio to show you've done your homework and understand their investment thesis.

What if I need funding but I'm not ready for an equity round?

If you need capital without giving up equity, non-dilutive financing is a great option. Rho Capital connects you with venture debt and credit lines tailored to your business, providing growth funding without the complexities of a traditional equity round.

How can Rho help me manage my capital after fundraising?

Once you secure funding, our integrated platform helps you manage it effectively. With business banking, corporate cards, and automated bill pay in one place, Rho gives you the tools to deploy capital with clarity and control.