B2B Marketplaces: Verticals and Companies That Are Driving Growth

B2B Marketplaces: Verticals and Companies That Are Driving Growth

August 17, 2022

In 2020, we released a field guide to B2B marketplaces that included conversations with founders and investors as well as takeaways regarding historical companies in the space. As a continuation of our content series focused on the future of B2B marketplaces, we conducted further analysis of roughly 100 companies spanning 14 distinct industries. Our goal with this project is to highlight current trends in the marketplace investing landscape and drive discourse around the themes in our portfolio. Below are some key takeaways from our research:


Of the nearly 100 B2B marketplaces we tracked, these verticals have raised the most capital. The following numbers reflect the total funding of each sector’s constituent companies (from founding till date).

With steady increases in B2B marketplace investment, it’s crucial to understand how this funding translates to growth. The following companies have the highest revenue to funding ratio for firms generating over $100M annually. Holistically, labor marketplaces tend to be more efficient but are not widely differentiated from the rest of the field.

We also looked at firms with the most efficient employee base relative to funding. Notably, four of the 10 companies with the most efficient employee base belong to the freight and logistics vertical.



While our analysis is not fully exhaustive, we hope it helps B2B marketplace founders gain a better understanding of where the theme is headed. As we continue into this new era of B2B marketplaces characterized by integrated payments, increasing verticalization, and accessible software development, we encourage founders to continue introducing novel models and technologies to the B2B space.

Verticals and companies included in our research:


If you liked “B2B Marketplaces: Verticals and Companies That Are Driving Growth” and want to read more content from the Bowery Capital Team, check out other relevant posts from the Bowery Capital Blog.

Related Blogs

A Field Guide To B2B Marketplaces

In 2020, we released a large content series focused on B2B Marketplaces. We had been investing in the category of companies since our 2014 Transfix investment and wanted to go deep on our thinking and learn from others. We’ve kept up investing in B2B Marketplaces,…

October 9, 2020 Read More