A $17 million Series A fundraising round was secured by Fermat, a San Francisco, California-based firm that enables merchants to customize a shopping experience for every client trip.
Leading the investment, which raised the total to $30 million, was Bain Capital Ventures (BCV), with participation from Courtside Ventures, Greylock, and QED Investors.
The firm plans to utilize the money to expand for its clientele, which includes social media companies including Nood, True Classic, Jack Archer, mindbodygreen, and U Beauty.
Fermat, which was founded in November 2021 by former LiveRamp product and engineering leaders Rishabh Jain and Shreyas Kumar, offers customers a seamless end-to-end buying experience while improving advertising effectiveness for commerce businesses.
The business leverages AI and machine learning to provide a distinctive and customized experience for customers from advertisement to shop to sale when they interact with a brand via social media, email, or SMS. During the process, the platform provides pertinent data about the user, including items they have favored, sales they have seen, and influencers they have interacted with.
Commerce businesses can use Fermat to simultaneously build, test, and improve thousands of highly customized landing page experiences, each one tailored to a single consumer. Its unique commerce graph powers its no-code platform.
