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Q3 2022

E-Commerce Report

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E-commerce VC market finds its footing after 2021 funding spike

The surge in online shopping through the COVID-19 pandemic was followed by a boost in VC funding for e-commerce enablement startups. While that extra lift has waned, the market has displayed strength through 2022, with $20 billion raised for an increase of 44.5% from 2020. When excluding 2021’s sky-high numbers, this is in line with previous year-over-year increases, despite high inflation and supply-chain obstacles.

VC funding has been weighted toward late-stage deals in recent years. Nearly 79% of 2022 deal value has fallen into that category, reflecting the maturity of the e-commerce ecosystem. At the same time, the number of deals has been more evenly distributed among deal stages, showing how investors continue to support emerging technologies, including VR and AR shopping and livestream commerce.

Our inaugural Emerging Tech Research report on the e-commerce VC market examines five segments and their various trends, opportunities, and risks in Q3. These segments define startups that facilitate different steps in the sales process, from prepurchase to postpurchase, along with startups that span all categories.


Table of contents
Vertical overview 3
Q1-Q3 2022 timeline 4
E-commerce landscape 5
E-commerce VC ecosystem market map 6
VC activity 8
Segment overview 11
Prepurchase 12
Purchase venue 18
Purchase medium 24
Postpurchase 30
Horizontal platforms 36