News & Analysis

Checking out the highs and lows of e-commerce 

Consumer spending through e-commerce has seen explosive growth over the years, fueled by pandemic lockdowns and emerging platforms. E-commerce is taking a bigger bite of the retail-transaction pie, but headwinds have put a pause on e-commerce’s VC growth the past few quarters. 

Our Q4 2022 E-Commerce Report shows how this downward trend continued—with some upsides.

Key takeaways include: 

• E-commerce ended 2022 with 77 deals in Q4 totaling $1 billion in funding. While deal value fell 42.1% from the previous quarter, deal count increased by more than 50%.  
• Exits were also down, with only five deals, versus seven in Q3.  
• Investors have several opportunities in the e-commerce vertical, including B2B buy now, pay later services and the appearance of more re-commerce platforms, reselling platforms for consumers.