Fermat, a San Francisco, CA-based startup that allows retailers to create a shopping experience for each customer journey, raised $17M in Series A funding.
The round, which brought the total amount to $30M, was led by Bain Capital Ventures (BCV) with participation from existing investors Greylock, QED Investors and Courtside Ventures.
The company intends to use the funds for growth for its customers, including social commerce brands like True Classic, Jack Archer, mindbodygreen, U Beauty, and Nood.
Founded in November 2021 by Rishabh Jain and Shreyas Kumar, both former LiveRamp product and engineering executives, Fermat provides an end-to-end shopping experience for consumers and greater advertising performance for commerce brands. When shoppers engage with a brand on social, email, or SMS, the company uses AI and machine learning to provide a unique and personalized journey from ad to shop to sale. Throughout the process, the platform carries relevant information about the customer, such as products they like, discounts they’ve seen, and influencers they’ve engaged with.
With Fermat, commerce brands can launch, test and optimize thousands of highly-specific landing page experiences at once, each targeted to that individual customer. Its no-code platform is powered by its proprietary commerce graph.
FinSMEs
13/03/2024