Commerce

We are former founders and operators at leading commerce and marketing tech companies whose focus at BCV is entirely on these ecosystems.

Bain Capital’s unique advantages in commerce & marketing are unmatched—and our venture investments in commerce tech date back to the 2000’s. For Scott’s former company, ProfitLogic, access to Bain Capital’s retail and brand portfolio (including iconic companies like Canada Goose, Michaels Stores, Guitar Center, Cotopaxi, Bugaboo and many more) was a major part of how BCV became his largest investor, and also why he chose to join the BCV team after selling ProfitLogic to Oracle. Merritt has been a leading proponent of the value creation associated with B2B marketplaces, leading BCV’s thinking in this arena and spearheading our investments in several high growth B2B marketplace concepts. And Christina joined BCV after leading product teams at Affirm and GoFundMe, operating at the intersection of commerce and fintech.   

From commerce enablement companies that helped major retailers and brands become more data-driven and omni-channel enabled (like ProfitLogic, Kiva Systems, Tell Apart, Bloomreach, HookLogic, and Persado), to companies that foresaw and facilitated the e-commerce revolution with widespread adoption of mobile usage and cloud computing, we have been a part of every foundational shift in how the world shops and sells over the last two decades. Whether it’s personalized business to consumer communications from Attentive, infrastructure for 3P marketplaces with Mirakl, highly efficient e-comm logistics with ShipBob or first party data infrastructure with mParticle, BCV continues to partner with innovators to build the foundation for modern commerce operations.

We have also invested in novel retail concepts and marketplaces—in effect, next-gen retailers, not brands. We have been involved since the earliest days of company formation with market leading consumer concepts like Rent The Runway, Jet.com, Material Bank, Ankorstore, and Wonder. Through the creative deployment of modern technology and data infrastructure, each of the companies has delivered a powerful new value proposition to consumers while establishing a massive moat.  

We don’t care about “stage.” Our objective is to partner with great founders who we can help to build scalable, defensible, highly profitable businesses. We were the first check into Rent The Runway, Persado and Bloomreach, led the Series A in Attentive, and led growth rounds at Mirakl, Material Bank and Ankorstore. Across our portfolio we are known for our “roll up our sleeves” approach, whether to help find and close a key exec, facilitate the right c-level customer introductions, support a new financing, or think through how to handle the inevitable ups and downs of company building.  We have lived the battles as founders, operators, and board members from the earliest stages to scale and exit. We aim to be your first phone call, the relationship you know you can count on, day or night, at each stage of growth. 

Focus Areas

Personalization - Machine Learning / AI

Given the recent consumer privacy changes, the cost of acquiring a customer has increased. Tools that we work close with are predictive technologies and personalized marketing tools like Persado, Attentive, Bloomreach and mParticle, which arm both incumbents and new entrants with cloud-based, machine learning centric, digital tools to understand, find, and market to customers— and increase retention through optimized, personalized, authentic customer experiences.

Social Commerce & Creator Economy Tools

Traditional advertising channels (i.e., Facebook & Google) are oversaturated. Meeting the consumer in their daily user-flow on social media and creating in-unit shoppable experiences are likely to create higher intent to purchase. Empowering creators & influencers with the tools to run their businesses effectively has become imperative for them and for the brands that rely on them for success. 

Marketplace Proliferation

The future of marketplaces are capital light businesses with large-scale efficiencies. More and more, B2B relationships and transactions are coming online — creating greater transparency and broader access to both supply and demand. We invested in ACV Auctions, Material Bank, & Ankorstore to help remove layers of the legacy value chain, directly connecting sellers and buyers.  And our portfolio company Mirakl powers many of the large scale retail, wholesale and manufacturer ecosystems in building their own 3P marketplace capabilities.

Commerce Meets Fintech

Increasingly we see financial services embedded within e-commerce flows to optimize checkout experiences for consumers and create profitable new revenue streams for merchants (i.e., BNPL, wallets, loyalty, next-gen PLCC). Arming brands with better financing and accounting integrations contributes to more growth. We invested in Recharge to solve subscription commerce pain points for brands and Catch to build a next-gen closed loop payment network to enhance consumer loyalty.

Experiential Retail - Web3 & the Metaverse

New experiential retail models offer immersive virtual shopping capabilities to “transport” shoppers to any venue/store/brand. 3D enabled consumers will explore virtual worlds and brands will use the metaverse as additional selling channels for both digital and physical products with Web3 infrastructure driving loyalty and authentication.

Commerce 4.0

What’s next?  You tell us!  We’re here to learn, to share ideas and to leverage our broad reach and depth of domain connectivity to support you in realizing your vision.  Drop us a line.  We love to talk shop.

Commerce Insights

BNPL For B2B Marketplaces: Accelerating Trillions In B2B Spending

Buy-now-pay-later, or BNPL, has taken consumer e-commerce by storm, enabling shoppers to get the items they want today, but put off the pain of paying for them until tomorrow — at zero or very low interest costs. Since BNPL began popping up as an option at checkout via point-of-sale players such as Affirm, Klarna, and […]

Noah Breslow 6 min read
News Commerce

Commerce Domain Experts

Commerce Portfolio

Company
About
Partner
Invested
Domain
Stage
Case Study

hi 👋 we’re soona! the world’s first virtual content studio for e-comm merchants.

Partner(s) Scott Friend
Invested 2021
Commerce
Growth
Case Study

We help brands launch their own secondhand resale marketplace.

Partner(s) Zeeza Cole
Invested 2021
Commerce Apps
Seed

Recharge is the leading subscriptions payments platform designed for merchants to set up and manage dynamic recurring billing across web and mobile.

Partner(s) Aaref Hilaly
Invested 2021
Commerce
Growth

Ankorstore is the first marketplace that connects brands and creators with shops all over Europe.

Partner(s) Merritt Hummer
Invested 2021
Commerce
Early

Material Bank is an American technology and logistics company headquartered in Boca Raton, Florida, with its logistics hub in Olive Branch, Mississippi.

Partner(s) Merritt Hummer
Invested 2020
Commerce
Growth

WONDER is a next generation of restaurant chains powered by an advanced mobile platform.

Partner(s) Scott Friend
Invested 2020
Commerce
Early

Neutron Holdings, Inc., doing business under the name Lime, formerly LimeBike, is a transportation company based in San Francisco, USA.

Invested 2019
Commerce
Early

Mirakl is a French cloud-based e-commerce software company jointly headquartered in Paris, France and Somerville, Massachusetts.

Partner(s) Scott Friend
Invested 2019
Commerce
Growth

Truvideo offers a proprietary video, texting and communication platform that helps businesses communicate with their customers.

Invested 2019
Commerce
Seed

ACV Auctions’ mission is to be the most trusted source for dealers to purchase wholesale vehicles.

Invested 2018
Commerce
Growth

Flow is a powerful and flexible cross-border solution that simplifies the complexity of scaling internationally.

Partner(s) Scott Friend
Invested 2017
Commerce

Acorns is an American financial technology and financial services company based in Irvine, California that specializes in micro-investing and robo-investing.

Partner(s) Matt Harris
Invested 2017
Commerce
Early

ShipBob empowers businesses to offer 2-day shipping and manage inventory, orders, and shipments.

Partner(s) Ajay Agarwal
Invested 2017
Commerce
Early

RentoMojo is India's leading rental platform brings to you a wide range of products on rent.

Invested 2017
Commerce
Early
Case Study

A personalized mobile messaging platform for innovative e-commerce and retail brands.

Partner(s) Scott Friend
Invested 2016
Commerce
Early

mParticle’s customer data platform integrates data and orchestrates it across channels, partners, and systems.

Partner(s) Scott Friend
Invested 2016
Commerce
Early

Skai empowers leading brands and agencies around the world to manage enterprise-level, omnichannel digital campaigns.

Invested 2014
Commerce
Growth

The mission of Manicube is to make the lives of working women easier.

Partner(s) Scott Friend
Invested 2014
Commerce
Early

Jet.com was an American e-commerce company. In 2016, it became a subsidiary of Walmart.

Partner(s) Scott Friend
Invested 2014
Commerce
Early

TapCommerce helps mobile businesses retarget their ads.

Partner(s) Scott Friend
Invested 2013
Commerce
Early