# Fermat Commerce funding: rounds and investors

> Fermat Commerce has raised $45M across 1 round since 2025. Investors include Greylock, Bain Capital Ventures and QED Investors. Every round with its source.

Source: https://millionrounds.com/company/fermat-commerce (Millionrounds; every figure on the page links to its filing or article)

United States · [Series B startup](https://millionrounds.com/companies)

# Who invested in *Fermat Commerce*

One round we have observed, with the 5 investors named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

E-commerce

Funding summary Updated 26 Oct 2026

**$45M** raised across 1 round since 2025, from 1 source

- **Latest round:** Series B, $45M Jun 2025
- **Investors:** 5

See who backed them

## The rounds

- **Jun 2025** Series B **$45M** [Greylock](https://millionrounds.com/fund/greylock-partners) [Bain Capital Ventures](https://millionrounds.com/fund/bain-capital-ventures) [QED Investors](https://millionrounds.com/fund/qed-investors) [Montage Ventures](https://millionrounds.com/fund/montage-ventures) [VMG Partners](https://millionrounds.com/fund/vmg-partners) Source recorded SEC filing: $40M sold, first sale May 2025

## Everyone who backed them

[Greylock](https://millionrounds.com/fund/greylock-partners) VC firm **1** round

[Bain Capital Ventures](https://millionrounds.com/fund/bain-capital-ventures) VC firm **1** round

[QED Investors](https://millionrounds.com/fund/qed-investors) VC firm **1** round

[Montage Ventures](https://millionrounds.com/fund/montage-ventures) VC firm **1** round

[VMG Partners](https://millionrounds.com/fund/vmg-partners) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=fermat-commerce).

## Also claim to have backed them

This firm lists Fermat Commerce as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above.

[Heracles Capital](https://millionrounds.com/fund/heracles-capital) VC firm Per its own site

## Quick answers about Fermat Commerce

### Who invested in Fermat Commerce?

Fermat Commerce's investors include Greylock, Bain Capital Ventures, QED Investors, Montage Ventures and VMG Partners.

### How much has Fermat Commerce raised?

Fermat Commerce has raised $45M across 1 round since 2025.

### When did Fermat Commerce last raise?

Fermat Commerce's most recent round was a Series B of $45M in Jun 2025.

### What was Fermat Commerce's biggest round?

Its most recent round, $45M in Jun 2025, is also its largest on record.

### Who backed Fermat Commerce first?

Fermat Commerce's first round on record, in Jun 2025, was backed by Greylock, Bain Capital Ventures and QED Investors and 2 others.

### What stage is Fermat Commerce at?

Fermat Commerce's latest named round is a Series B, in Jun 2025.

### Where is Fermat Commerce based?

Fermat Commerce is based in the United States.

## Companies like Fermat Commerce

In the same sector, and raised in the last eighteen months.

[**Whop** $400M · Oct 2026](https://millionrounds.com/company/whop)[**Rosie** $7.0M · Oct 2026](https://millionrounds.com/company/rosie)[**Stord** $782M · Oct 2026](https://millionrounds.com/company/stord)[**Santé** $23M · Oct 2026](https://millionrounds.com/company/sante)[**Siena AI** $23M · Oct 2026](https://millionrounds.com/company/siena-ai)[**Relay** $207M · Oct 2026](https://millionrounds.com/company/relay)

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