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Current customers include Unilever’s Olly, Glossier, GNC, BISSELL, Adapt Naturals, ILIA Beauty, and Backcountry.

Artificial intelligence (AI) and ecommerce platform startup FERMÀT has raised $45 million in new funding to scale its platform, which helps brands and agencies build personalized ecommerce experiences, the company says.

The round was led by VMG Partners, with additional participation from QED Investors, Greylock, Bain Capital Ventures, and Courtside Ventures.

Founded in 2021 by former LiveRamp executives Rishabh Jain and Shreyas Kumar, FERMÀT offers a no-code platform it designed to simplify the creation and optimization of AI-powered shopping experiences. The company says it has increased annual recurring revenue more than fivefold since its first funding and has tripled its workforce.

Current customers include:

  • Adapt Naturals
  • Backcountry
  • BISSELL
  • Glossier
  • GNC
  • ILIA Beauty
  • Unilever’s Olly

FERMÀT also works with digital agencies such as Tinuiti and Common Thread Collective, according to the company.

How FERMÀT will uses its new funding

The new funding will be used to expand FERMÀT’s product offerings. That includes “Pierre Strategize AI,” which generates customer journey strategies based on behavioral data, and “Commerce Brain,” a proprietary engine that tracks anonymized activity across both human and AI-driven interactions.

Other priorities include:

  • Scaling FERMÀT’s commerce graph database
  • Hiring across engineering and machine learning teams
  • Growing partnerships with agencies
  • Increasing investment in enterprise sales and customer support

“The pressure on brands to reduce acquisition costs while improving performance has never been greater,” said Rishabh Jain, co-founder and CEO of FERMÀT. “This funding allows us to accelerate the development of infrastructure that supports personalized, measurable commerce across all digital touchpoints.”

“Brands and retailers are hungry for what’s next in digital commerce,” says VMG General Partner Indy Guha. “FERMÀT’s platform gives them the ability to rapidly create and optimize personalized experiences without needing deep engineering resources.”

Chris Chang, senior vice president of strategic partnerships at Tinuiti, said FERMÀT’s tools have improved campaign agility and effectiveness for agency clients.

“FERMÀT empowers our clients to rapidly build and optimize post-click experiences, giving them greater control and real-time adaptability,” he said in the company statement.

Brands continue to face challenges with differentiation, personalization, and escalating digital marketing costs — a gap FERMÀT aims to address through AI, the company says.

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