Firmly Closes $15M to Scale Agentic Commerce
Firmly raised $15M Series A led by Squarepoint Capital to scale its no-code agentic commerce platform and launch Ask Agent.
The big picture: Firmly, a no-code agentic commerce platform, has closed a $15 million Series A funding round. The capital infusion, led by Squarepoint Capital, will support the company’s expansion and the launch of its new AI-powered conversational tool, Ask Agent.
Why it matters:
- AI-driven commerce: Adobe predicts a 130% year-over-year growth in AI-driven traffic to U.S. retail sites this holiday season, highlighting a critical need for merchants to adapt to new selling channels.
- Merchant complexity: As AI creates new storefronts, merchants face increasing complexity in connecting product catalogs, inventory, payments, and checkout infrastructure across diverse AI platforms and protocols.
- Market reach: Firmly’s Connect platform already enables AI assistants, publishers, and social media platforms to access over 11 million merchants, representing more than $900 billion in Gross Merchandise Volume (GMV).
How it works:
- No-code integration: Firmly’s platform aims to simplify merchant integration, reducing setup time from weeks to less than a day, allowing businesses to sell across various channels with minimal engineering effort.
- Ask Agent: The newly launched conversational tool provides end-to-end natural language product discovery for merchant websites, featuring real-time catalog access, in-chat checkout, and traditional customer support.
- Performance gains: Early deployments of Ask Agent have reportedly shown conversion rate improvements of up to 18% and increases in average order value (AOV) of up to 23%.
The catch: The AI commerce landscape is rapidly evolving and highly competitive, with many companies building solutions for AI-era shopping. While Firmly’s ‘no-code’ approach addresses integration challenges, ensuring seamless performance across a fragmented ecosystem of AI platforms and payment providers remains a complex task. Established e-commerce platforms and new entrants are also vying for market share in this burgeoning sector.
Key Facts
- Company: Firmly
- Amount: $15M
- Round: Series A
- Investors: Squarepoint Capital (lead), JPMorgan Payments, Mastercard, Samsung Next, Alumni Ventures, ARK Invest, Benhamou Global Ventures, Granada Funds, Hike Ventures, The Mercantile Companies, Versus Ventures
- Founders: Kumar Senthil, Damien Balsan, Murali Krishnamurthy
- Sector: Agentic Commerce Platform
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