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The Venture Codex

Overview

Cloud-based commerce platform for small and medium-sized businesses.

Founded

2004

Deals · 12mo

1

Stage focus

Series B
Series C

Geographic focus

Canada
United States

Sector focus

E-Commerce
E-Commerce Platforms
Enterprise Software
SaaS

Investment portfolio

21rounds
NAMEDATESIZE
Gumloop
Mar 2026Participated
$50 MSeries B
Tetra Trust
Sep 2025Participated
$10 MOther Equity
Sanity
May 2025Participated
$85 MSeries C
Gorgias
May 2024Participated
$29 MSeries C
Flexport
Jan 2024Led
$260 MOther Equity
Nomba
May 2023Participated
$30 MSeries B
Triple Whale
Feb 2023Participated
$25 MSeries B
WalletConnect
Nov 2022Participated
$13 MOther Equity
WATI
Oct 2022Participated
$23 MSeries B
thirdweb
Aug 2022Participated
$24 MSeries A
Gorgias
Aug 2022Led
$30 MSeries C
Klaviyo
Aug 2022Led
$100 MOther Equity
Gumloop
Mar 2026Participated
$50 MSeries B
Tetra Trust
Sep 2025Participated
$10 MOther Equity
Sanity
May 2025Participated
$85 MSeries C
Gorgias
May 2024Participated
$29 MSeries C
Flexport
Jan 2024Led
$260 MOther Equity
Nomba
May 2023Participated
$30 MSeries B
Triple Whale
Feb 2023Participated
$25 MSeries B
WalletConnect
Nov 2022Participated
$13 MOther Equity
WATI
Oct 2022Participated
$23 MSeries B
thirdweb
Aug 2022Participated
$24 MSeries A
Gorgias
Aug 2022Led
$30 MSeries C
Klaviyo
Aug 2022Led
$100 MOther Equity
21
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Insights

Time horizon

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Deal Distribution

Shopify: 21 funding rounds are recorded in the selected participation categories.All available history.
Shopify: 21 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Series A03
Series B06
Series C+15
Other Equity24

Monthly Deal Activity

Shopify: 21 deals are recorded across 68 months.All available history.
Shopify: 21 deals are recorded across 68 months. All available history
MonthDeals
Mar '211
Apr '211
May '210
Jun '213
Jul '211
Aug '210
Sep '210
Oct '210
Nov '210
Dec '210
Jan '220
Feb '221
Mar '221
Apr '220
May '220
Jun '221
Jul '220
Aug '223
Sep '220
Oct '221
Nov '221
Dec '220
Jan '230
Feb '231
Mar '230
Apr '230
May '231
Jun '230
Jul '230
Aug '230
Sep '230
Oct '230
Nov '230
Dec '230
Jan '241
Feb '240
Mar '240
Apr '240
May '241
Jun '240
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '240
Jan '250
Feb '250
Mar '250
Apr '250
May '251
Jun '250
Jul '250
Aug '250
Sep '251
Oct '250
Nov '250
Dec '250
Jan '260
Feb '260
Mar '261
Apr '260
May '260
Jun '260
Jul '260
Aug '260
Sep '260
Oct '260

Sector Breakdown

Shopify: E-Commerce & Retail is the largest displayed sector by deal count (10 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Shopify: E-Commerce & Retail is the largest displayed sector by deal count (10 deals). All available history
SectorDeals
E-Commerce & Retail10
Enterprise Software5
Marketing & Advertising5
Fintech5
Developer Tools5
Transportation & Logistics3
Networks, Cloud & Communication3
Crypto & Blockchain3
Professional Services3
Hardware & Robotics2
Health & Life Sciences2
AI & Machine Learning2
Government & Defense1
Data, Analytics & IT1
Social & Community Platforms1

Deal Size Distribution

Shopify: 21 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Shopify: 21 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M0
$5M-$10M1
$10M-$25M6
$25M-$50M4
$50M-$100M6
$100M-$250M2
$250M-$500M1
$500M-$1B1
$1B+0

Deals By Geography

Shopify: United States has the largest recorded deal count among the displayed regions (14 deals).All available history.

Top 5 of 5 regions; European countries are grouped as Europe.

Shopify: United States has the largest recorded deal count among the displayed regions (14 deals). All available history
RegionDeals
United States14
Canada3
Europe2
Nigeria1
Israel1
Shopify: 20 co-investors are shown, with CRV sharing 3 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Investment Strategy

Shopify: Led accounts for 14% and participating for 86% of round participation.All available history.
Shopify: Led accounts for 14% and participating for 86% of round participation. All available history
CategoryDeals (count)Share (%)
Led314%
Participating1886%
Shopify: Single-lead accounts for 67% and co-led for 33% of lead dynamics.All available history.
Shopify: Single-lead accounts for 67% and co-led for 33% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead267%
Co-led133%

Team

Ariana Poursartip

Product Lead

Brittany Forsyth

Chief Talent Officer

John S. Lee

Head of Blockchain Programs

Josh Baker

Senior Developer

Mani Fazeli

VP of Product

Tobias Lütke

Founder & CEO

Tom Newton

VP of Engineering