B2B e-commerce venture has held up better than consumer through the correction. Procurement is structurally shifting online and B2B accounts are slower, stickier and more cash-generative once wired in. Capital has concentrated in vertical specialists with credible ERP and punchout integration, defensible repeat economics and a path to embedded payments or financing as a second revenue layer.

The investor base is a mix of marketplace and commerce-specialist funds - Greylock, Bessemer, Forerunner and Union Square Ventures - alongside generalists with active B2B books including Sequoia, Andreessen Horowitz and Accel. At growth stage the CVC arms of the major distributors increasingly anchor rounds, often as the bridge into a later strategic conversation. Flow has direct relationships with the specialist marketplace funds, the generalists writing the B2B thesis and the CVC arms of the major distribution incumbents.

Flow has experience running VC fundraising processes for B2B e-commerce companies across industrial and MRO, healthcare and life sciences, foodservice and hospitality supply, construction and building materials and horizontal distribution platforms. Our extensive investor network spans early-stage seed funds, growth-stage investors, and strategic and corporate VC arms.