Despite challenging economic conditions, investors continue to pump funding into B2B marketplace companies, Bowery Capital says. In 2021, there were 111 deals completed, and the pace hasn’t fallen off so far in 2022. Through May, there have been a total of 63 deals, Bowery Capital says.

“We have not seen a huge slowdown even as the market matures,” says Bowery Capital founder and managing partner Michael Brown. “There are still so many problems in the industry cloud segments that B2B ecommerce can solve.”

Tied with Faire was Convoy, in the transportation and logistics industry. It garnered $1.1 billion as well. The next highest B2B marketplace

deal, according to Bowery Capital, was ACV Auctions. Also in the transportation and logistics industry, ACV Auctions raised only about 70% of Faire and Convoy’s funding — $765 million. Not far behind was Rigup, in the labor industry, which has $752.5 million in funding. The next two major B2B marketplace investor deals Bowery Capital reported did not crack half a billion. Still, they both approached it.

Deliverr, in transportation and logistics, raised $490.9 million, and Xometry, in manufacturing and industrials, raised $472.2 million.

 Xometry turned in a strong first quarter this year with revenue growth of 90% to $83.7 million.

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