WizCommerce raises a $8m Series A led by Peak XV Partners

We are pleased to announce that WizCommerce has raised an emphatic $8m Series A led by India’s largest venture fund, Peak XV Partners (erstwhile Sequoia Capital India). Strong growth momentum, intense customer love demonstrated in 205% NRR, and effusive ref checks, thanks to a scalable GTM playbook selling into the neglected and large TAM middle American wholesale segment, backed by the strength of the core team, led by cofounder & CEO Divyaanshu Makkar’s (ex BVP VC) ability to spin a solid narrative made this one of the rare non-AI, non-QuickCom hot deals of the summer.

Even through the DD and the tariff brouhaha, WizCommerce has seen strong growth. We have seen the founders evolve and reinvent themselves, developing strong product and GTM muscle. Thanks to secular industry and tech shifts, and the ambition of the founders, we are confident that WizCommerce is well-shaped to emerge as one of the most promising horizontal SaaS offerings from India.

About WizCommerce

WizCommerce is ambitiously building a Shopify for wholesalers. The global $10 trillion wholesale market is ill-served by legacy software, and has been hungering for a commerce suite that will help them conduct business more efficiently. Through WizCommerce’s integrated commerce suite, now they can.

Wholesalers can now take orders from customers online, or via sales reps, through a software suite infused with consumer-grade UI as well as cutting-edge AI. In addition, wholesalers can make quick creatives, avoiding expensive photoshoots, analyse past order data for insights, process payments, etc. All this through a SaaS offering that is intuitive, delightful, and impactful, for wholesalers.

Why Peak XV led the $8m round in WizCommerce

Rishen Kapoor, VP at Peak XV, says: ​“What stands out is how consistently WizCommerce earns praise from both reps and buyers. Reps tell us it’s the tool they open first, and buyers appreciate the simpler ordering process. It’s uncommon to see a platform improve internal workflows and customer experience at once. With hundreds of reps and thousands of buyers already using it, WizCommerce is on track to become a core part of the wholesale tech stack with an AI‑first product built for the industry’s day‑to‑day needs. Their early traction shows they’re well‑placed to lead the shift.”

WizCommerce’s traction is reflected in compelling revenue and user numbers. $1.5m ARR (with $1.2m in U.S. revenues), which has tripled over a year. This is across 70+ customers, 700+ reps, and in turn around 300,000 buyers. The payment suite processes $100m+ in GMV annually. They are also seeing demand from larger accounts — they just signed their first $100k+ account, and this will pull up the $16k ACV up further, as they move from mid-market to enterprise accounts. All this on the back of low burn: approximately very low six figures a month, and an incredible NRR of 205%.

Blume’s journey with WizCommerce

Blume co-led the $3m seed round in WizCommerce in Q3 ​’21 . At the time, they were called Sourcewiz and were building a SaaS cataloguing tool for Indian exporters. Following the launch, and some early success, Z47 came in a seed extension round of $2.7m. But early success didn’t persist, and the company decided to pivot, not once but twice; first into a marketplace, and then to a U.S. SaaS play. They ultimately landed on the U.S. wholesaler market, underserved by legacy software companies, having to cobble together spreadsheets, faxes, and manual workflows.

They launched the first iteration of the U.S. product (WizOrder) in Q2 ​‘23, and saw instant resonance with their customers. Subsequently, they have added other elements of the software suite, including the ecommerce platform for wholesalers, AI-native creative app, AI recommendation engine, etc., all helping them create further points of delight and additional revenue opportunities. From the initial SMB customers, they have rapidly expanded over the past two years to midmarket customers, reaching an ARR of $1.5m.

Sajith Pai, Investment Partner at Blume Ventures who led the seed round into WizCommerce and supports them says: ​“Div, Vikas, and the team at WizCommerce have built a product stack that U.S. wholesalers and distributors absolutely love, reflected in their rapid revenue growth. Thanks to a culture built around intense customer listening, a ​‘ship fast’ attitude leveraging AI tooling, they are able to rapidly launch and succeed with new products such as WizAI and WizStudio addressing key customer needs. The new round will help in continued acceleration on product development, and GTM efforts including expansion into adjacent verticals.”

WizCommerce’s Right To Win

What powers WizCommerce? We identified three elements that stand out.

• Shipping pace led by a high clock speed culture. The rapid pace of product development is particularly notable. They are relentless in shaving time, including buying off-the-rack tools to speed up delivery.
• Huge customer empathy. This is their superpower. They really really understand their customers’ workflows and pain points, helping them build a better product.
• Founder-led sales, led by Divyaanshu, has made the difference for them. Feedback from sales calls spills back into product iteration which with high clock speed helps make the product to sales flywheel spin faster.

Nothing that I said above is unique to them. It is just that they do these relentlessly day after day after day. That is what makes them special.

Why WizCommerce is particularly exciting

WizCommerce pivoted successfully into a large TAM market, going through a why-now moment:

• COVID spurring old school businesses to transact online and now wanting to decisively move into it, but finding the present legacy tools lacklustre
• PE acquisition of legacy software companies in this space, followed by margin squeezing, leading to a quality drop in WizCommerce’s competitors (Repzio, MarketTime), leading to a search for alternatives

It is worth noting that WizCommerce is operating in a sector that doesn’t see a lot of Silicon Valley startups. It is likely to face limited competition in this space. Further, there are significant opportunities to expand TAM by moving into adjacent verticals beyond the home and interior décor, where it has been focused.

WizCommerce has a well-settled and cohesive high-quality senior team with most members having worked there for over two years. In Div, they also have one of the most impressive early-stage founders in Blume’s portfolio — merging venture fluency (given his venture analyst background) and operational smarts in one formidable package.

Thanks to these, WizCommerce expects to see continuing growth, expecting to close 2025 at $2.5 – 3m and 2026 at ~$10m. We are excited to support WizCommerce in its journey, and wish it continued success.