Diligence memo · auto-generated · as of July 2, 2026
Fermat Commerce, Inc.
Fermat Commerce, Inc. has raised $65M over 3 rounds; too few niche peers to rank its valuation yet.
Businessfiled
Fermat Commerce, Inc. operates in Consumer / Retail, based in SAN FRANCISCO.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Fermat Commerce, Inc. has raised $65M in disclosed capital across 3 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $40M on 2025-05-05.
Most recent recorded round closed around 2025-05-05.
Valuation (modeled)modeled
Provath models Fermat Commerce, Inc. at approximately $150M (range $90M–$228M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Historic cadence: a new round about every 17 months.
Last raise 14 mo ago; this sector typically re-raises about every 15 months.
Raising on or ahead of the sector's normal rhythm.
The last round stepped up 2.4× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 98% of Consumer / Retail peers (1161 compared).
Modeled value ranks above 98% of those peers.
Closest niche peers: Clarity Cosmetics Inc., Brand Engagement Network Inc..
Peoplefiled
4 named people on file across officers, directors and signatories.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.