FERMÀT

Somewhere, a shopper just clicked an ad. FERMÀT owns what happens next.

Tap a sponsored post for a vacuum, a serum, or a gummy vitamin, and for a fraction of a second nothing is decided. Historically, that click dumped you onto a generic product page that had no idea why you came. FERMÀT lives in that fraction of a second. The San Francisco company builds the shopping experience that sits between an ad and a checkout - custom pages, funnels, bundles, and offers that respond to how a specific person actually behaves.

It is a quiet kind of company. You have probably bought from FERMÀT-powered pages - at BISSELL, Glossier, GNC, Backcountry, or Unilever's Olly - without ever seeing the name. That is the point. FERMÀT is the stagehand, not the star. And in June 2025 it raised a $45 million Series B to keep it that way.

"Other platforms build the back of the store. FERMÀT decided the front - the part the customer actually walks through - was up for grabs." - The YesPress read

Brands spent fortunes getting you to click - then handed you to a page that shrugged.

For two decades, ecommerce poured its genius into two places: the ad that grabbed you, and the backend that processed your card. Shopify and BigCommerce industrialized the second part. Meta and Google industrialized the first. The middle - the actual experience of deciding to buy - was left to whatever default template the store happened to ship.

It was, to be fair, a convenient arrangement. Convenient for everyone except the shopper, who arrived full of intent and met a page that treated a first-time visitor and a loyal customer exactly alike. Changing that page usually meant a ticket, an engineer, a sprint, and a six-figure budget. Most brands simply didn't bother.

"The funnel was treated like plumbing. FERMÀT's bet was that it's actually the storefront." - On the gap in the market

The numbers behind the gap kept getting louder. More than half of Google searches now end without a click. Over a billion people use AI interfaces to find products every week. The path from curiosity to cart was fragmenting across channels no template was built for - and the brands paying for the traffic had almost no control over where it landed.

Two data people from LiveRamp decided the funnel deserved an engineer's respect.

Rishabh Jain and Shreyas Kumar met as product and engineering leaders at LiveRamp, the data-connectivity company. They had spent years watching how data moves between systems - and how rarely any of it reached the moment a customer was actually deciding. In November 2021 they left to fix that specific seam.

Their bet was almost stubborn in its simplicity: let marketers build a shopping funnel the same way they build an ad - fast, visually, without filing a ticket. No engineers. No six-figure rebuild. Just the person who already understands the customer, given the keys to the page that customer lands on.

Exhibit A: Two people who left a data company to obsess over a single web page. The page won.

"This funding round cements FERMÀT's opportunity to define the category of commerce experiences expertly tailored to each shopper." - Rishabh Jain, Co-Founder & CEO

From a two-person idea to the page behind your favorite brands.

Caption: Four years, three rounds, one stubborn idea. The dashes are where the sprint lived.

Build a funnel the way you build an ad. The agent is named Pierre.

FERMÀT bundles three core products - Funnel Builder, Dynamic Product Pages, and an AI Search engine - on top of an intelligence layer it calls the Commerce Graph. Underneath sits an AI agent named Pierre (yes, after Fermat) that drafts copy, lays out pages, and recommends products based on what real shoppers actually do.

"LLMs aren't search engines; they're answer engines, requiring an entirely new strategy." - Rishabh Jain, on why the AI Search engine exists

For scale: FERMÀT openly markets itself as a replacement for a whole shelf of tools - FullStory, Hotjar, Mixpanel, Heap, Amplitude, and Microsoft Clarity. Ambitious for a four-year-old.

Customers you already know. Numbers that moved the right direction.

A platform that lives between ad and checkout only matters if real brands trust it with their best traffic. FERMÀT powers shopping journeys for a recognizable roster, and routes through agency partners that manage spend at scale.

On the newer AI Search product, early customers reported a 2x visibility lift in their product categories, with shoppable content cited directly by ChatGPT and conversions attributed back to it. Agency partners Tinuiti and Common Thread Collective deploy FERMÀT for their own clients.

"Brands and retailers are hungry for the art of the possible in hyper-personalized commerce." - Indy Guha, VMG Partners

Get every brand ready for the era when an agent does the shopping.

FERMÀT's stated mission is to deliver hyper-personalized commerce experiences tailored to each shopper. The longer game is what it calls agentic commerce - a near future where AI assistants browse, compare, and buy on a person's behalf. In that world, the brand that loses control of the page also loses control of how the agent reads it.

Which is why the November 2025 AI Search engine isn't a side quest. It is the same thesis - own the experience, not just the backend - pointed at a channel that didn't exist when FERMÀT was founded. The shopper might be a human on a phone or a model answering a prompt. FERMÀT wants to be the layer that speaks to both.

Translation: they are building the storefront the robots will actually read. Make of that what you will.

Back to that click. The page that answers now knows why you came.

Return to the shopper from the top - the one who just tapped an ad for a vacuum, a serum, or a gummy vitamin. Four years ago that tap led to a template that treated everyone the same. Today, on a growing list of brands, the page that loads has read the room: it knows the channel you came from, adjusts the offer, and was assembled by a marketer in an afternoon rather than an engineering team in a quarter.

That is the change FERMÀT is selling. Not a new checkout, not a new ad network - the connective tissue between them, finally treated as something worth designing. The skeptic's question is fair: plenty of companies have promised personalization and shipped a slightly smarter banner. FERMÀT's answer is its own ledger - revenue up more than fivefold, real brands on the page, and a product already aimed at the channel everyone else is still arguing about.

"The click hasn't changed. What happens after it just got a lot more interesting." - FERMÀT, in one line