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The Venture Codex

Spark Growth Ventures

4017 Caminito Davila, San Diego, California, 92122, United States

Overview

Spark Growth Ventures is a mid to late stage, vertical-agnostic technology venture capital as well as a micro private equity firm. The firm was founded in 2018 by Hem Suri and is headquartered in San Diego, California, United States.

Total investments
12
Lead investments
0
Investments · 12mo
1
Active investors
2

Sector focus

  • Venture Capital
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Investment portfolio

  • Rozana

    Participated · Series B · Mar 2026

    Founded in 2021 by Ankur Dahiya, Adwait Vikram Singh and Mukesh Christopher, Rozana operates a hybrid commerce model that blends a mobile shopping app with more than 75 modern retail experience centres and its own distribution network. The company partners with over 35,000 village-based women who act as last-mile fulfilment agents, enabling delivery into 21,000 villages across the Gangetic plains. Rozana currently serves more than 1 million active rural households in Uttar Pradesh and Haryana, offering staples, FMCG, personal care, apparel and other categories. Revenue figures were not disclosed, but the company states it has raised nearly $60 million to date to build its rural commerce infrastructure. With the newly raised capital, Rozana plans to upgrade its technology stack, expand product categories, launch private-label lines and deepen brand partnerships. The company’s growth roadmap targets scaling to over 200 stores and entering two to three additional northern states in the near term, with an eventual goal of reaching 130,000 villages. Rozana is positioning itself to capture a share of India’s $2 trillion rural consumption market.

  • Humanly.io

    Participated · Series A · May 2025

    Humanly.io builds AI-driven automation for high-volume hiring, including candidate screening, interview scheduling, automated communication, and reference checks. The company is shifting toward delivering pre-vetted, ready-to-hire candidates via a continuously refreshed talent database and a “service-as-a-software” model. It is launching a job seeker-facing product that offers AI-powered coaching for interview preparation, resume writing, and salary negotiation to establish direct relationships with candidates. Humanly has partnerships to scale candidate access, including taking over CareerBuilder’s talent marketplace and working with Microsoft on a neurodiversity hiring program. The company counts more than 120 customers—including Microsoft, Domino’s, Massage Envy, Worldwide Flight Services, and MGM Resorts and Casinos—and conducts about 9,000 interviews per day. Founded in 2018 and based in Bellevue, Wash., Humanly employs roughly 50 people and reported revenue growth of 3.9x over the past seven months.

  • Rain

    Participated · Series B · Apr 2025

    Rain operates an employer-integrated earned-wage-access app paired with financial-wellness tools such as overdraft alerts, spending trends, a financial education portal, one-on-one coaching and free tax filing via april. The startup targets mid-market and enterprise customers (over 300 employees) and charges an average instant-transaction fee of about $3 while offering a free ACH option. Rain says it has onboarded over 2.5 million employees, distributed more than $2 billion in earned wages, and employs about 175 people. Management says non-EWA services (education, coaching, tax filing) account for roughly 70% of monthly adoption versus 30% for EWA. Product roadmap includes an EWA‑secured credit card with a dynamic credit limit, HSA reimbursement tooling, and savings accounts with auto-save and rewards planned later this year. Rain offers earned wage access (EWA) and a suite of financial wellness tools that integrate with timekeeping and payroll systems while requiring minimal employee data. Its pay-on-demand feature lets employees access wages in real time for a small per-transaction fee and employers can limit withdrawals to no more than 50% of an employee’s gross earnings per pay period. Rain is free for employers that provide it as a voluntary benefit and adheres to Consumer Financial Protection Bureau guidelines. The company reports employer customers saw an average 50% improvement in retention among employees who use the app and those employees worked an average of more than 20 hours per month. Rain estimates it has helped customers’ employees avoid over $51 million in overdraft fees and payday-loan interest. With the new financing, Rain plans to scale its EWA offering to more employers and continue expanding its financial wellness reach. Rain offers earned wage access (income streaming) and financial wellbeing services that allow employees to withdraw pay shortly after completing a shift instead of waiting for payday. The service is offered free to employers; employees pay a small ATM-like fee per withdrawal and cannot withdraw more than 50% of gross earned wages per pay period. Rain integrates with payroll and timekeeping systems including ADP, UKG, and SAP, and is SAP’s first and main earned wage access partner globally; the company emphasizes compliance and relies on less employee data than many competitors. Rain launched its Instant Pay app in early 2020 and has grown its user and client base over 20% per month for the past 30 months; to date it has disbursed over $150 million in earned wages. The platform is used by employers covering over half a million employees across large healthcare systems, senior living groups, hotel franchises (including Hilton and Marriott) and fast-food franchises (including McDonald’s, Burger King, and Taco Bell); employers report up to an 80% reduction in turnover and 86% improved job satisfaction among users. Rain plans to use new funding to support continued U.S. expansion through investments in technology and infrastructure, employee and employer experience, and marketing.

  • Redcliffe Labs

    Participated · Series C · Sep 2024

    Redcliffe Labs operates an omnichannel diagnostics platform offering lab testing, an extensive collection network and home‑collection services. The company serves over 7 million patients across more than 220 cities via 80 labs and 2,000+ collection centers. It plans to expand into Tier II and III Indian cities, open new labs, enhance its collection network and scale home‑collection offerings. Growth has been supported by strategic acquisitions in North‑Western India and partnerships with diagnostic chains. Leadership hires include Ankur Shah as an independent director and Alka Saxena as CFO, and the company highlights NABL accreditation and Six Sigma practices. Financially, operating revenue grew 2.6x to ₹347 crore in FY23 while losses widened fivefold to ₹345.6 crore, reflecting rapid expansion investments. Redcliffe Lifetech is a Noida, India–based diagnostics company that delivers pathology and specialised testing through an omni-channel infrastructure. Its network comprises 22 labs across 14 cities, several of which are NABL accredited, supported by a fleet of 400 phlebotomists operating in 100+ cities and an offline network of 500 collection centres. The company offers more than 3,500 different pathology and specialised tests, including genetics, at affordable prices. Redcliffe plans to expand its geographic reach across India with a focus on tier 2, 3 and 4 cities, scale its platform, and increase product offerings to radiology, disease data profiling and lifestyle management. Led by founder Dheeraj Jain, the business combines online channels, home sample collection, and an extensive offline footprint to reach consumers. The company will use the new funding to execute these expansion and product plans.

  • Splitero

    Participated · Series A · Jan 2023

    Splitero helps homeowners unlock trapped home equity by offering Home Equity Investments (HEIs) that provide upfront cash with no income verification and no monthly payments, instead taking a share of future home appreciation. The company’s proprietary Maturity Match™ structure aligns each HEI’s term with the remaining life of the homeowner’s primary mortgage, positioning the product as a flexible substitute for HELOCs or cash-out refinancing. Splitero currently serves homeowners across 14 U.S. states, including Arizona, California, Colorado, Florida, Nevada, New Jersey, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, and Washington. Industry data cited in the article notes that U.S. homeowners collectively hold trillions of dollars in accessible but under-utilized equity, creating a large addressable market for Splitero’s offering. The company emphasizes ease of qualification by eliminating traditional income documentation requirements. Partnerships with institutional capital providers such as Blue Owl Capital and Antarctica Capital bolster its ability to scale HEI originations. Headquartered in San Diego and founded by real-estate veterans, Splitero is positioning its platform and securitization capabilities to expand both homeowner reach and investor participation.

Team

  • Hem Suri

    Founder and Managing Partner

    LinkedIn
  • Safa Mahzari

    Director, Platform Operations

    LinkedIn