FERMAT Raises $17 Million in Series A

by Kay Aloha Villamor in March 14th, 2024

FERMAT, a San Francisco, CA-based startup revolutionizing personalized shopping experiences, raised $17 million in new financing, bringing its total funding raised to over $30 million.  

SaaS Investors  

Bain Capital Ventures (BCV) led the funding round, with participation from existing investors Greylock, QED Investors, and Courtside Ventures.  

FERMAT Use of Funds  

The financing will fuel growth for FERMAT's customers, including renowned social commerce brands and advertising agencies. FERMAT aims to enhance its platform and expand its capabilities for providing personalized shopping experiences.  


Founded in November 2021 by Rishabh Jain and Shreyas Kumar, FERMAT empowers retailers to create unique, personalized shopping journeys for each customer. Utilizing AI and machine learning, FERMAT offers an end-to-end shopping experience from ad to sale, enhancing advertising performance for commerce brands. FERMAT’s easy-to-implement, no-code platform is powered by its proprietary commerce graph. This commerce graph, along with its testing and optimization platform, ushers in an era of fully personalized e-commerce journeys that increase brands’ advertising effectiveness. FERMAT's mission is to provide brands with technology that enables the lightning-fast creation of high-converting, dynamic shopping experiences. 

Funding Details                  


Raised: $17.0M       

Round: Series A  

Funding Month: March 2024            

Lead Investors: Bain Capital Ventures (BCV)   

Additional Investors: Greylock, QED Investors, and Courtside Ventures Lightspeed Venture Partners     

Company Website: https://www.fermatcommerce.com/  

Software Category: Ecommerce ML  

Source: https://www.businesswire.com/news/home/20240313207172/en/  





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