Fermat Commerce

FERMÀT (legal entity Fermat Commerce, Inc.) is a San Francisco-based B2B software company that builds AI-generated, personalized shopping experiences for direct-to-consumer and retail brands. Its platform produces dynamic product pages, shoppable content and funnel experiences that are tailored to the channel where a shopper first engages — search, advertising, email or social — with the stated goal of raising conversion rates and reducing customer acquisition costs. The company positions itself as commerce infrastructure, letting merchants deploy personalized commerce journeys without large in-house engineering teams.

The product suite described in company announcements includes Pierre Strategize AI (an AI agent that analyzes store performance and audience behavior to generate funnel strategies and commerce experiences), Heatmaps (LLM-based visualization of user behavior and friction points), Funnel Visualizer (real-time exploration of the customer journey), Pierre Data Explorer (natural-language querying of shopper behavior data), and Commerce Brain, a shopper behavior data graph built from anonymized consumer behavior tracking. Coverage also describes headless checkout capabilities and connectors to Shopify, Salesforce Commerce Cloud, Oracle, ad platforms and analytics tools, along with an AI Search Commerce Engine intended to help brands capture traffic originating from AI assistants such as ChatGPT, Claude and Gemini.

The company frames its roadmap around "agentic commerce" — serving both human shoppers and AI agents that transact on their behalf — and says Series B proceeds will fund AI capability development, expansion of its commerce data graph and infrastructure, agency partner programs, and growth in enterprise sales and AI/ML product teams.

Founding story

Founded in November 2021 by Rishabh Jain (CEO) and Shreyas Kumar, both former LiveRamp product and engineering executives, to address the friction brands face creating, managing and measuring tailored shopping experiences across channels.

Business model

B2B software sold to consumer brands and retailers, delivered as a commerce experience platform that integrates with existing e-commerce stacks (for example Shopify, Salesforce Commerce Cloud and Oracle) and ad and analytics systems. Distribution is supplemented by an agency partner program.

Sources do not state pricing or contract structure; the company is described as a B2B/enterprise software platform measured on ARR.

Traction

Since its Series A the company reports growing ARR by more than 5x and tripling headcount (as of June 2025). It cites deployments with brands including BISSELL, Backcountry, Unilever (Olly), Glossier, Adapt Naturals, GNC and ILIA Beauty, and agency partnerships with Tinuiti and Common Thread Collective. One aggregator lists employee headcount in the 11-50 range.

Latest developments

In June 2025 the company announced a $45M Series B led by VMG Partners with participation from existing investors QED Investors, Greylock, Bain Capital Ventures and Courtside Ventures, to be used for AI capabilities, team growth, agency partnerships and commerce data infrastructure. It also announced an AI Search Commerce Engine intended to help brands capture traffic from AI search tools including ChatGPT, Claude and Gemini.