Future Commerce Fund
The Future Commerce Fund is Plug and Play’s first industry-specific fund, built on Plug and Play’s first vertical--Brand & Retail. Through the Future Commerce Fund, Plug and Play will further support the growth of their early-stage portfolio companies and invest in Series A to Series C startups that are achieving great commercial traction through their accelerator programs and 500+ corporate partner network.
Brand & Retail Program Portfolio Investment Highlights
Acquired by Paypal for $4 billion
Honey is designed to help consumers save time and money, Honey’s 10 million users worldwide, shop over 30,000 retailers knowing that Honey is finding the best deals and coupons for their everyday needs.
Acquired by Facebook for $1 billion
Kustomer is the omnichannel SaaS CRM platform reimagining enterprise customer service to deliver standout experiences. It scales to meet the needs of any contact center and business by unifying data from multiple sources, enabling companies to deliver service and support through a single timeline view.
Raised $1.7B
Rappi is a consumer tech company that specializes in providing online delivery services. It connects consumers who want to purchase prepared foods, groceries, clothes, and virtually anything with independent contractors who can fulfill those needs.
How We Invest
Plug and Play typically invests $50K-250K in Pre-Seed, Seed, and Series A startups. Now, with the launch of the Future Commerce Fund, Plug and Play and our limited partners will be able to continue to support Plug and Play’s portfolio companies and program startups who are raising Series A-Series C financing. Over the next three years, Plug and Play plans to make roughly 20 investments through the Future Commerce Fund.
Many of the fund’s investors (known as limited partners) are Plug and Play’s corporate members that are deepening their relationships with some of the best startups transforming commerce. The founders of some of Plug and Play’s most successful portfolio companies are also limited partners in the fund. Plug and Play is contributing 10% of the fund’s capital.
Adavancing the Future of Commerce
Michael Olmstead, Chief Revenue Officer of Plug and Play
The Future Commerce Fund looks to replicate the success of our platform model in the context of a venture fund where the investors are our retail members. We have grown a pipeline of incredible companies from the family office and now are cherry picking the best ones for our partners who may not otherwise be able to invest in these deals.
Mike Shaffer, EVP, COO, and CFO of PVH Corp.
We’ve watched the use of technology accelerate in the retail industry during the pandemic. You’re no longer only in brick-and-mortar stores, consumers want a seamless experience from anywhere and anytime. I see this concept continuing even further, and technology is the only way to get it done. The key for us when joining this fund was the ability to see what technology is out there alongside multiple partners that represented a large piece of the retail sector. With Plug and Play and their global partner network, we found someone who was very good at what they do and had a track record of delivering success.
George Damouny, Partner at Plug and Play Ventures
We are excited to be able to scale with the companies we have invested in. This will both help deepen our relationship with our retail corporate members and invest bigger check sizes in later stage companies.