What is Forma?
Forma is a technology company focused on revolutionizing the design and delivery of employee benefits programs. Its platform aims to provide flexible, inclusive, and globally scalable solutions for businesses of all sizes. By automating the complexities of benefits administration, Forma enables HR teams to concentrate on the human aspect of employee well-being rather than getting bogged down by fragmented point solutions and cumbersome processes. The company's mission is to simplify benefits management through a unified, modern platform.
How much funding has Forma raised?
Forma has raised a total of $112.6M across 6 funding rounds:
Other Financing Round
$120K
Angel/Seed
$2.5M
Series A
$15M
Series A
$15M
Series B
$40M
Series B
$40M
Other Financing Round (2019): $120K with participation from AngelPad companies
Angel/Seed (2019): $2.5M led by Designer Fund, Stripe, and Upside Partnership
Series A (2020): $15M, investors not publicly disclosed
Series A (2020): $15M featuring Offline Ventures, Emergence Capital Partners, Upside Partnership, Designer Fund, and Stripe
Series B (2022): $40M, investors not publicly disclosed
Series B (2022): $40M with participation from Emergence Capital Partners, AngelPad companies, Designer Fund, Upside Partnership, Ribbit Capital, and Stripe
Key Investors in Forma
Designer Fund
Designer Fund is an investment firm that typically backs companies with a strong design ethos and innovative product development, suggesting a focus on user-centric technology solutions.
Emergence Capital Partners
Emergence Capital Partners is known for investing in early-stage cloud computing and SaaS companies, indicating a strategic interest in scalable software solutions that address significant market needs.
Ribbit Capital
Ribbit Capital is a venture capital firm that focuses on disruptive companies in the financial services and fintech sectors, suggesting an interest in innovative platforms that can transform established industries.
What's next for Forma?
The recent major strategic investment suggests Forma is poised for significant scaling and expansion. This capital infusion will likely be directed towards enhancing its platform capabilities, broadening its market reach, and potentially exploring new benefit categories or international markets. Given the enterprise-level funding context, Forma appears to be moving beyond its initial growth phases and is now focused on solidifying its position as a leader in the benefits technology space, aiming for broader adoption among larger organizations seeking comprehensive and efficient employee benefits solutions.
See full Forma company page
