Inspired Capital closes $450 million fund to back creators and AI in retail

Inspired Capital, the venture firm behind creator-commerce platform ShopMy, has raised $450 million for its fourth fund. It will back early-stage companies that are reshaping how consumers discover, buy and engage with products, according to the firm's announcement.

The New York-based firm was founded in 2019 by Alexa von Tobel and Penny Pritzker. It said the latest round brings its total committed capital to more than $1.3 billion, a figure that now covers four funds.

Alongside the fund, Inspired is introducing a revenue-focused platform to help portfolio companies grow. The firm has not detailed what the platform includes or how it will be staffed.

The firm invests across health care, fintech, robotics and artificial intelligence. Its portfolio also holds a growing set of companies in fashion, retail and influence marketing, and ShopMy is the clearest case.

How ShopMy became the flagship bet

ShopMy connects fashion and beauty brands with creators who monetise product recommendations through affiliate links, curated storefronts and brand partnerships. It also supplies the infrastructure brands and creators need to collaborate, giving companies a way to turn influence into sales.

Inspired led ShopMy's series A in November 2022, when the company raised $8 million. It also took part in the $18.5 million round in March 2024 and the $77.5 million series B in January 2025.

In October 2025, ShopMy raised another $70 million in a round led by Avenir. That round valued the company at $1.5 billion. ShopMy was then reporting annual sales above $1 billion through creator referrals, with revenue up 200 percent year over year.

"Creators are increasingly becoming the front door and storefront for commerce, not just an advertising channel," von Tobel told WWD. "Shoppers increasingly find brands through people they trust, not through department stores or search, and we believe in a world increasingly filled with AI noise that this dynamic will only become stronger."

What von Tobel expects from creators

Growth in recommendation-led commerce could give creators more say over product development. "Creators can see what audiences actually buy, so the line between them as a 'channel' and 'brand' is blurring," she said, expecting creators to shape what gets made through their own brands or partnerships.

Von Tobel named Hill House Home, founded by Nell Diamond, and the beauty brand Saie, founded by Laney Crowell. Both, she said, are companies whose growth is closely tied to founders whose personal influence lifts the business.

Inspired has also invested in Remark, which develops shopping technology driven by AI for premium brands. Another holding is Arcade, a platform that lets users turn product ideas into designs that can be manufactured.

With making products becoming quicker and potentially cheaper, von Tobel expects brands to stand apart through storytelling, craftsmanship and originality. She sees openings in the vintage market, and in technology-enabled authentication that could help resale businesses build consumer trust at scale.

Von Tobel also expects outlay on creator content and user-generated content to one day match established marketing channels such as search and paid social. Brands, she noted, still lack some of the tools needed to manage that spending effectively.

Inspired's portfolio includes 10 companies valued at $1 billion or more, while 10 have passed $100 million in annual revenue. Its exits include Teamshares' Nasdaq listing and Databricks' acquisition of the generative AI start-up MosaicML.

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Image: Inspired Capital