VMG Partners led a $45m Series B round in FERMÀT.

VMG Partners, a private equity firm, led a $45m Series B round in FERMÀT, an AI-native commerce platform, with participation from QED Investors, Greylock, Bain Capital Ventures, and Courtside Ventures. "This funding round cements FERMÀT's opportunity to define the category of commerce experiences expertly tailored to each shopper. We've moved beyond validating our core business mechanics to securing our position as a category leader. We believe that within a few years, every commerce experience - from ads to agentic shoppers to in real life placements - will be powered by FERMÀT's personalized commerce technology," Rishabh Jain, FERMÀT CEO and Co-Founder.