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§ Private Profile · San Francisco, CA, USA
Employee benefits platform offering flexible, personalized perks and pre-tax products for modern companies, supporting remote and hybrid work.
Forma is a San Francisco Bay Area-based software company that provides a flexible employee benefits platform allowing corporate employers to offer personalized lifestyle perks and pre-tax healthcare and commuter accounts. The platform serves more than 330,000 individual members across 80 countries and maintains a strong 99 percent customer retention rate. Its enterprise customer base consists of 140 organizations, including major technology and retail brands such as Twitch, Zoom, and Lululemon. The company has raised approximately $57.5 million in total equity funding, including a $40 million Series B round in 2022 led by Ribbit Capital, with additional backing from Stripe. Operating with a workforce of approximately 140 employees, the business generates its revenue through a SaaS subscription model tailored for modern HR departments. Forma was originally established in 2017 by co-founders Jason Fan and Max Hsieh.
Forma has raised $55.0M across 2 funding rounds.
Forma has raised $55.0M in total across 2 funding rounds.
Forma has raised $55.0M across 2 funding rounds. Most recently, it raised $40.0M Series B in March 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 1, 2022 | $40M Series B | Ribbit Capital | Abstract Ventures, Kevin Hartz, Addition, AirAngels, ALT Capital, Alumni Ventures, Banana Capital, Chrysalix Venture Capital, Earl Grey Capital, Founders Fund, IBX, Index Ventures, JIMCO, Jude Gomila Rolling Fund, Kearny Jackson, Menlo Ventures, Meritech Capital Partners, Mischief Venture Capital, Offline Ventures, Pioneer Fund, Stripe, Ylem, DAN Wright, David Petersen, Eric Ries, Frederic Kerrest, Gordon Wintrob, Jeff Bezos, Jeremy CAI, JON Runyan, Mathilde Collin, MAX Mullen, Paul Rios, Ryan Carlson, Ryan Chan, Scott Belsky, Siqi Chen, Tony XU, Zack Kanter, Jack Altman, JOE Gebbia, Tobias Lütke, AngelPad, Designer Fund, Emergence Capital, Upside Partnership | Announced |
| Oct 1, 2020 | $15M Series A | — | Emergence Capital, Great Oaks Venture Capital, Kain Capital, Obvious Ventures, Peter Moran, Scott Banister | Announced |
Forma most likely refers to Forma.ai, a technology company providing AI-powered enterprise sales compensation software. It builds a unified platform for sales planning, including territory and quota management, incentive compensation modeling (ICM), and data-driven forecasting tools like Forma Architect, Forma Prophet, and Forma Operator. The platform serves revenue leaders, RevOps teams, and sales organizations at scale, solving problems like fragmented spreadsheets, slow plan design, misaligned incentives, and inefficient go-to-market (GTM) agility by integrating 600+ data sources for real-time modeling and deployment.[5]
Forma.ai differentiates through AI-assisted plan creation (designing incentives in hours), continuous planning without sandboxes, and optimization of sales ROI via machine learning and analytics. It has gained traction with enterprise adoption, evidenced by features like rapid territory balancing and strategic advisory services.[5]
Forma.ai emerged as a response to outdated sales compensation processes in enterprise environments. Founded around 2017 (aligned with related entities in software services), it was built by experts addressing the need for agile, data-unified sales tools amid shifting GTM demands.[4][5] Key pivots include developing AI-driven modules like Forma Architect for territory planning and Forma Prophet for forecasting, with early focus on ditching manual tools for integrated platforms. Traction built through pre-built integrations and services proving ROI in sales optimization, positioning it as a leader in sales performance management (SPM).[5]
Forma.ai rides the AI-driven revenue operations wave, capitalizing on enterprises' shift to data-centric GTM amid economic pressures for efficiency (e.g., precise quotas amid volatile markets). Timing aligns with post-pandemic hybrid sales models demanding agility, where fragmented tools fail—Forma.ai's unified SPM fills this by enabling 10x faster planning and higher incentive ROI.[5] Market forces like AI adoption in sales (projected multi-billion growth) and integration demands favor it, influencing the ecosystem by standardizing continuous planning and reducing reliance on manual processes, much like how CRM tools reshaped sales decades ago.[5]
Forma.ai is poised for expansion as AI matures in enterprise sales, with next steps likely including deeper ML for predictive incentives, more integrations, and global scaling via advisory services. Trends like composable GTM stacks and real-time analytics will amplify its edge, potentially evolving it into a full revenue orchestration hub. Watch for partnerships with CRM giants to cement dominance—its current trajectory ties directly back to solving the core pain of rigid, low-ROI sales comp in a high-velocity world.[5]
Forma has raised $55.0M in total across 2 funding rounds.
Forma's investors include Ribbit Capital, Abstract Ventures, Kevin Hartz, Addition, AirAngels, Alt Capital, Alumni Ventures, Banana Capital, Chrysalix Venture Capital, Earl Grey Capital, Founders Fund, IBX.