Forma - About the company
Forma is a series B company based in Toronto (Canada), founded in 2016 by Nabeil Alazzam. It operates as a Provider of sales performance management software for incentive compensation and planning. Forma has raised $55M in funding from Crosslink Capital and ACME. The company has 103 active competitors, including 23 funded and 8 that have exited. Its top competitors include companies like Xoxoday, Varicent and Everstage.
Company Details
Provider of sales performance management software for incentive compensation and planning. The software unifies territory planning, quota setting, and incentive programs in a single data platform. It allows users to test and financially model changes, then deploy modeled changes instantly. The platform simplifies plan creation with configuration and dynamic templates. It also deploys machine learning models and advanced sales planning analytics to improve forecasts and optimize sales coverage.
- Website
- www.forma.ai/
- Social
- Email ID
- *****@forma.ai
- Phone Number
- +1 **********
- Registered Address
- 386 Berkeley Street, Toronto
Key Metrics
Founded Year
2016
Location
Toronto, Canada
Stage
Series B
Total Funding
$55M in 2 rounds
Latest Funding Round
Investors
Ranked
10th among 103 active competitors
Employee Count
178 as on May 31, 2026
Investment & Acquisitions
Legal entities associated with Forma
Forma is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
FORMA AI INC. CIN: 9906860 , Canada, Active | Sep 15, 2016 | - | - | - |
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Forma's funding and investors
Forma has raised a total funding of $55M over 2 rounds. Its first funding round was on Mar 11, 2021. Its latest funding round was a Series B round on May 17, 2022 for $*****. 5 investors participated in its latest round. Forma has 8 institutional investors.
Here is the list of recent funding rounds of Forma:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
May 17, 2022 | 1720497 | Series B | 7792027 | 7470279 | 8452561 | 4824740 |
Mar 11, 2021 | 3017168 | Series A | 5003989 | 1103051 |
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Forma's founders and board of directors
Founder? Claim ProfileThe founders of Forma is Nabeil Alazzam. Nabeil Alazzam is the CEO of Forma.
Here are the details of Forma's key team members:
- Nabeil Alazzam: Founder & CEO of Forma. Contact Info: 1 email address
Forma's Board of Directors
Forma's board has 2 active members. Brian Yee and Philip Boyer are independent board members.Here is the list of Forma's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Independent board member | - | Current | 4y 1m | |
nacmjvu | Independent board member | - | Current | 1y 5m |
View details of Forma's Founder profiles and Board Members
Forma's employee count trend
Forma has 178 employees as of May 26. Here is Forma's employee count trend over the years:
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Forma's Competitors and alternates
Top competitors of Forma include Xoxoday, Varicent and Everstage. Here is the list of Top 10 competitors of Forma, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Provider of rewards, recognition, loyalty, incentives, and payout program solutions | $101M | 78/100 | ||
2nd | Provider of incentive compensation management solutions for enterprises | $49M | 71/100 | ||
3rd |  Everstage 2020, Wilmington (United States), Series B | Platform offering software to manage sales commissions | $44.7M | 69/100 | |
4th |  CaptivateIQ 2017, San Francisco (United States), Series C | Platform offering sales incentive management software | $165M | 69/100 | |
5th |  Board 1994, Chiasso (Switzerland), Acquired | Cloud-based financial planning and analysis and budgeting solutions for enterprises | $23.8M | 61/100 | |
6th | Cloud based ERP software and management solutions for businesses | $8.68M | 59/100 | ||
7th |  Spiff 2015, Salt Lake City (United States), Acquired | Compensation and commission management software | $109M | 59/100 | |
8th |  QuotaPath 2018, Philadelphia (United States), Series B | SaaS-based performance management system for sales professionals | $67.3M | 51/100 | |
9th |  Herald Logic 2002, Mumbai (India), Seed | Provider of sales incentive compensation management platform and managed services | $220K | 50/100 | |
10th | Provider of sales performance management software for incentive compensation and planning | $55M | 48/100 |
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Forma's Investments and acquisitions
Forma has acquired SeaMonster. Forma has not made any investments as of now.News related to Forma
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Forma.ai: Raises $10m In Series A FundingFintechinshorts•Mar 13, 2021•Forma, Crosslink Capital, Golden Ventures, Panache Ventures and 2 others
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