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The Venture Codex

Commerce Ventures

555 Mission Street Suite 3250, San Francisco, California, 94105, United States

Overview

At Commerce Ventures, they are building a new and different type of venture capital firm. Their investors are a unique and strategic blend of leading entrepreneurs, senior executives, and corporates from their focus sectors (mobile, retail/e-commerce, payments, fin-tech, insurance). In addition to providing capital, they are committed to helping their portfolio companies succeed in scaling their commerce-related innovations.

Total investments
162
Lead investments
14
Investments · 12mo
20
Active investors
7

Sector focus

  • E-Commerce
  • Financial Services
  • FinTech
  • Insurance
  • InsurTech
  • Retail Technology
  • Software
  • Venture Capital
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Investment portfolio

  • a1mobile

    Participated · Seed · Jul 2026

    a1mobile is launching as a business telecommunications company headquartered in San Francisco and founded by Darryl Foong. It plans to unify mobile, landline, and AI-powered phone systems into a single carrier designed for the AI era. The company says it will enable phone numbers to do more than connect calls by helping businesses better serve customers. a1mobile is initiating its commercial rollout with business landline customers. Financially, the company has raised an $11.5 million Seed round led by General Catalyst with broad investor participation to support its launch and growth efforts.

  • Pie

    Participated · Series A · Jun 2026

    Pie provides a suite of offerings—Growth, AI Search and Front Desk—designed to help small merchants improve visibility, attract customers on local channels, and convert customer engagement into outcomes like calls, bookings and revenue. The company emphasizes partnerships with vertical software platforms to embed its capabilities into tools already used by small businesses, exemplified by a partnership with MoeGo that reached over 10,000 pet-care businesses and delivered an average 15x return on ad spend in initial weeks. Pie launched from stealth in 2025 and, before its public debut, signed up thousands of small-business customers and generated over 100,000 phone calls to client businesses. Operational metrics cited by the company include many customers experiencing 15–20% year-over-year sales growth. With the recent investment from Amex Ventures and its $19.5M Series A led by Lightspeed, Pie plans to expand platform partnerships, broaden its product suite, and grow its team to scale adoption across categories such as auto repair, pet care, fitness and beauty services.

  • GrailPay

    Participated · Series A · Jun 2026

    GrailPay builds payments infrastructure focused on establishing certainty and trust for instant, agentic business payments. Its Account Intelligence product performs risk scoring of bank accounts without requiring open banking, and its Transaction Intelligence product is designed to accelerate payments. The company says it is already processing billions of dollars of business payments volume, growing that volume 20x over the past year. GrailPay plans product releases to enable new forms of commerce that were previously impractical, and is using its recent financing to further develop its offerings and scale operations. Financially, the company has raised over $17M to date, including a $10.5M Series A led by MissionOG.

  • Interchecks

    Led · Series C · Jun 2026

    Interchecks provides an instant payments platform that consolidates a range of deposit and withdrawal rails behind a single RESTful API, including its Pay-by-Bank solution and the newly launched Account Funding Transactions (AFT) for real-time debit card funding. AFT enables clients to fund eligible accounts in real time via debit credentials and embeds risk controls such as account verification, duplicate card detection, customizable velocity limits, and proactive monitoring to reduce chargeback exposure. The company positions its product for use cases including account-to-account transfers, neobanks, neobrokerages, and crypto wallet funding. Interchecks has processed more than $50 billion in transactions over its roughly ten-year history, posted triple-digit net revenue growth year-over-year for seven years, and has been profitable since 2023. It is PCI Level 1 Service Provider and SOC 2 Type 2 certified and maintains relationships with major networks including Visa and Mastercard. Leadership has stated the Series C proceeds will be used to go deeper on technology and grow the team to support expansion of its product set and commercial momentum.

  • Greenboard

    Participated · Series A · May 2026

    Greenboard builds AI-driven software to automate aspects of financial compliance, offering a conversational compliance product called Greenboard Go. The company serves more than 500 financial institutions that run their compliance programs on its platform. Greenboard emphasizes an "expert in the loop" approach where AI handles routine tasks while human experts oversee outputs. Founded by Dave Feldman and Ed Schembor, the team emerged from Y Combinator's winter 2024 cohort and draws on Feldman's prior experience at Guideline. The company reports that 88% of customers eliminate multiple legacy compliance solutions after switching to Greenboard. Financially, Greenboard raised a $4.5 million seed in 2024 and has now closed a $15.5 million Series A led by Base10 Partners.

Team