FERMÀT, an AI-native commerce platform generating brands’ shopping experiences for stronger engagement and conversion, announced it has raised $45 million in Series B funding. The funding round was led by commerce enablement and brand investor VMG Partners with participation from existing investors QED Investors, Greylock, Bain Capital Ventures, and Courtside Ventures.
With a mission to empower brands to tailor every touchpoint, FERMÀT addresses this challenge head-on by enabling merchants to deploy highly personalized, AI-driven commerce journeys that drive engagement without relying on massive engineering teams or prohibitive costs.
How the funding will be used: The funding will advance FERMÀT’s mission to deliver hyper-personalized commerce experiences to help prepare enterprise brands and agency partners for the inevitable era of agentic commerce. The Series B round will advance FERMÀT’s continued growth, including the expansion of its agency partner program, a deeper investment in platform capabilities, and the scaling of its proprietary commerce graph and data infrastructure. And the company’s vision is clear: power every digital commerce experience, enabling brands to tailor every touchpoint.
Founders: Founded in November 2021 by Rishabh Jain and Shreyas Kumar, both former LiveRamp product and engineering executives, FERMÀT has quickly established itself as a category creator and leader in the AI-native commerce space. Since its Series A round, FERMÀT has grown ARR by over 5X and tripled the size of its team. The platform now powers shopping journeys, from first touch point to checkout, for major brands including BISSELL, Backcountry, Unilever (Olly), Glossier, Adapt Naturals, GNC, ILIA Beauty, and partners with leading agencies such as Tinuiti and Common Thread Collective (CTC).
Recent product launches: The recent product launches underscore FERMÀT’s commitment to innovation:
1.) Pierre Strategize AI – An AI agent (Pierre, eponymous to the company’s name) analyzes store performance and audience behavior to generate personalized funnel strategies and full commerce experiences.
2.) Heatmaps – Visualizes user behavior at a significantly more granular level than ever before and identifies engagement hotspots and friction points.
3.) Funnel Visualizer – Explore the entire customer journey in real-time, pinpointing unique merchandising opportunities and enabling direct funnel adjustments.
4.) Pierre Data Explorer – Chat with your data and Fermat’s underlying shopper behavior graph in natural language for rapid insights and analysis.
5.) Commerce Brain – Fermat’s underlying data advantage comes from tracking every consumer’s behavior in an anonymized way, enabling all enterprises to understand their full consumer shopping behavior. Much like what LLMs have enabled for conversations in chat interfaces, this product unlocks consumer insights about how people buy that have never been possible before.
KEY QUOTES:
“VMG’s investment in FERMÀT is the result of countless CMO conversations. Brands and retailers are hungry for ‘the art of the possible’ in hyper-personalized commerce, and we believe AI makes that achievable. As the industry stands at an inflection point across AI, data, and brand-building, FERMÀT is a foundational platform for brands seeking to win the next decade of consumer engagement.”
Indy Guha, General Partner at VMG Partners
“At Tinuiti, we partner with cutting-edge platforms like FERMÀT because we recognize that the future of ecommerce is being shaped in real time. This collaboration has generated real momentum for our teams and, more importantly, for the brands we support. FERMÀT empowers our clients to rapidly build and optimize personalized post-click experiences, giving them greater control over performance across the full funnel. By removing traditional engineering barriers, brands can now deliver commerce journeys tailored to both human and agentic shoppers with speed and precision. Together, we’re transforming agility into a strategic advantage.”
Chris Chang, SVP Strategic Partnerships at Tinuiti
“This funding round cements FERMÀT’s opportunity to define the category of commerce experiences expertly tailored to each shopper. We’ve moved beyond validating our core business mechanics to securing our position as a category leader. We believe that within a few years, every commerce experience—from ads to agentic shoppers to in real life placements—will be powered by FERMÀT’s personalized commerce technology.”
Rishabh Jain, CEO and co-founder of FERMÀT
