In a significant boost for personalized e-commerce, FERMAT has announced a $17 million funding round led by Bain Capital Ventures.
This investment propels FERMAT’s total capital to over $30 million, enabling it to enhance growth for clients such as True Classic and mindbodygreen. FERMAT’s AI-driven platform offers a tailored shopping experience, adapting storefronts to individual customer contexts.
This approach counters the decline in advertising efficacy due to the loss of cookies, providing a dynamic alternative to static, one-size-fits-all solutions. Scott Friend from BCV highlights FERMAT’s innovation in creating self-iterating, data-driven shopping experiences.
CEO Rishabh Jain envisions a future of unique customer journeys as a standard expectation. The platform’s success is echoed by Tracy Rosecrans of mindbodygreen, who reports significant improvements in cost per acquisition and new customer rates since partnering with FERMAT.
FERMAT was founded in November 2021 by Rishabh Jain and Shreyas Kumar, both former LiveRamp product and engineering executives. FERMAT’s proprietary commerce graph and testing and optimization platform ushers in an era of fully personalized e-commerce journeys that increase brands’ advertising effectiveness.
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