What is Forma?
Forma operates as a sophisticated platform designed to streamline the delivery of flexible, inclusive, and global benefits programs. By automating complex administrative workflows, the company enables organizations to move away from fragmented point solutions toward a unified, human-centric experience. Its core value proposition lies in its ability to handle the operational heavy lifting, allowing HR teams to focus on employee engagement and retention rather than manual process management. As a key player in the HR-tech ecosystem, Forma addresses the growing demand for personalized benefits that cater to a diverse, distributed workforce, effectively bridging the gap between traditional corporate offerings and modern employee expectations.
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, Upside Partnership, and Stripe
Series A (2020): $15M supported by Offline Ventures, Emergence Capital Partners, Stripe, Designer Fund, and Upside Partnership
Series A (2020): $15M, investors not publicly disclosed
Series B (2022): $40M, investors not publicly disclosed
Series B (2022): $40M with participation from Emergence Capital Partners, Upside Partnership, Stripe, Designer Fund, AngelPad companies, and Ribbit Capital
Key Investors in Forma
Ribbit Capital
A venture capital firm focused on investing in early-stage and growth-stage financial technology companies that are transforming the financial services industry.
Emergence Capital Partners
A leading venture capital firm specializing in enterprise software and cloud-based platforms that empower the modern workforce.
Stripe
A global technology company that builds economic infrastructure for the internet, often investing in startups that align with its mission to increase the GDP of the internet.
What's next for Forma?
With this latest infusion of capital, Forma is well-positioned to accelerate its product development roadmap and expand its footprint in the global enterprise market. The company is expected to leverage these resources to enhance its platform capabilities, potentially integrating more advanced analytics and automated compliance features to support its growing client base. As the landscape for employee benefits continues to evolve, Forma's strategic focus will likely remain on deepening its technological moat and scaling its operations to meet the needs of multinational corporations seeking to optimize their total rewards strategies. The firm's ability to maintain its growth momentum will be critical as it navigates the complexities of international benefits administration and competitive market pressures.
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