When was Forma founded?

Forma was founded in 2016 and raised its 1st funding round 5 years after it was founded.

Where is Forma located?

Forma is headquartered in Toronto, Canada. It is registered at 386 Berkeley Street, Toronto.

Who is the current CEO of Forma?

Nabeil Alazzam of Forma. They have also founded 1 company.

Which legal entities is Forma associated with?

Forma is associated with FORMA AI INC..

How many employees does Forma have?

As of Aug 31, 2026, the latest employee count at Forma is 198.

Is Forma a funded company?

Forma is a funded company, having raised a total of $55M across 2 funding rounds to date. The company's 1st funding round was a $***** Series A round, raised on Mar 11, 2021.

When was the latest funding round of Forma?

Forma's latest funding was a $***** Series B round on May 17, 2022, with participation from 5 investors. Its primary sector is Sales Force Automation. In Canada, the Sales Force Automation sector has seen $115M in funding in 2026 to date.

Where does Forma rank among its competitors?

Forma ranks 13th amongst 121 active competitors, of which 22 are funded. It stands 6th in terms of total funding among its competitors. The most recent competitor to raise funding was Xoxoday, which secured an undisclosed amount in Jan, 2026.

Who are the top competitors of Forma?

Forma's top competitors include Xoxoday, Varicent and Everstage. Among them, Xoxoday secured the most recent funding round in January, 2026.

Forma - 2026 Company Profile, Team, Funding & Competitors

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

Series B, May 17, 2022, $*****

Investors

Crosslink Capital & 7 more

Ranked

13^th among 121 active competitors

Employee Count

198 as on Aug 31, 2026

Investment & Acquisitions

SeaMonster

Similar Companies

Xoxoday & 994 more

View Forma's full profile

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	-	-	-

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	7033119	Series B	9149498	1595194	4484433	3491513
Mar 11, 2021	4500535	Series A	6380536	6365429	Crosslink Capital	Golden Ventures & 3 more

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View details of Forma's funding rounds and investors

The 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
Brian Yee	Independent board member	-	Current	4y 5m
vdcuoxr	Independent board member	-	Current	6y 7m

View details of Forma's Founder profiles and Board Members

Forma's employee count trend

Forma has 198 employees as of Aug 26. Here is Forma's employee count trend over the years:

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Top competitors of Forma include Xoxoday, Varicent and Everstage. Here is the list of Top 10 competitors of Forma, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Xoxoday 2012, Bengaluru (India), Acquired	Cloud-based platform providing digitized rewards, incentives, loyalty, and payouts solutions for businesses worldwide	$101M	Apis Partners, Mahindra & 17 others	78/100
2nd	Varicent 2003, Toronto (Canada), Acquired	Provider of incentive compensation management solutions for enterprises	$49M	FTV Capital, Warburg Pincus & 7 others	71/100
3rd	Everstage 2020, Wilmington (United States), Series B	Platform offering software to manage sales commissions	$44.7M	Elevation Capital, 3one4 Capital & 10 others	70/100
4th	CaptivateIQ 2017, San Francisco (United States), Series C	Platform offering sales incentive management software	$165M	Accel, Sequoia Capital & 9 others	69/100
5th	QuotaPath 2018, Philadelphia (United States), Series B	SaaS-based performance management system for sales professionals	$67.3M	ATX Venture Partners, Tribe Capital & 7 others	63/100
6th	Spiff 2015, Salt Lake City (United States), Acquired	Compensation and commission management software	$109M	Kickstart Seed Fund, Salesforce Ventures ... & 21 others	59/100
7th	Board 1994, Chiasso (Switzerland), Acquired	Cloud-based financial planning and analysis and budgeting solutions for enterprises	$23.8M	Grafton Capital	57/100
8th	Performio 2006, South Melbourne (Australia), Series A	Sales commissions and incentive compensation management software	$75M	JMI Management, Flow Capital & 3 others	56/100
9th	Monocle 2023, New York City (United States), Acquired	Provider of an AI platform personalizing customer interactions across marketing channels	$7.5M	F2 Capital, irrvrntVC & 6 others	55/100
10th	Ancora 2017, Gurugram (India), Acquired	Provider of performance management solutions for enterprises	-	-	53/100
13th	Forma 2016, Toronto (Canada), Series B	Provider of sales performance management software for incentive compensation and planning	$55M	Xfund, MaRS Discovery District & 6 others	48/100