About Forma.ai
Forma.ai is a company based in Toronto (Canada) founded in 2016 by Nabeil Alazzam. It operates as a SaaS (Software-as-a-Service). Forma.ai has raised $55 million across 2 funding rounds from investors including ACME Capital, Crosslink Capital and Golden Ventures. The company has 31 employees as of April 04, 2024. Forma.ai has completed 1 acquisition, including SeaMonster. Forma.ai offers products and services including Forma Operator, Forma Architect, and Forma Prophet. Forma.ai operates in a competitive market with competitors including Xactly, Spiff, Varicent, Atrium and SetSail, among others.
- Headquarter Toronto, Canada
- Employees 31 as on 04 Apr, 2024
- Founders Nabeil Alazzam
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Forma.Ai
- Date of Incorporation 09 Nov, 2022
- Jurisdiction Pune, Maharashtra, India
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Annual Revenue
$155.7 K (USD)0as on Mar 31, 2023
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Net Profit
$18.6 K (USD)0as on Mar 31, 2023
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EBITDA
$29.2 K (USD)0as on Mar 31, 2023
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Total Equity Funding
$55 M (USD)
in 2 rounds
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Latest Funding Round
$45 M (USD), Series B
May 17, 2022
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Investors
ACME Capital
& 5 more
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Employee Count
31
as on Apr 04, 2024
- Investments & Acquisitions
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Products & Services of Forma.ai
Forma.ai offers a comprehensive portfolio of products and services, including Forma Operator, Forma Architect, and Forma Prophet. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automated incentive compensation is provided for sales teams.
Sales territories and quotas are optimized using data.
Advanced analytics are used for sales planning strategies.
Unlock access to complete
Funding Insights of Forma.ai
Forma.ai has successfully raised a total of $55M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $45 million completed in May 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series B — $45.0M
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First Round
First Round
(11 Mar 2021)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2022 | Amount | Series B - Forma.ai | Valuation | ACME | |
| Mar, 2021 | Amount | Series A - Forma.ai | Valuation | Crosslink Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Forma.ai
Forma.ai has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include ACME Capital, Crosslink Capital and Golden Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage investments are directed toward disruptive technologies and innovations.
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Founded Year | Domain | Location | |
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Venture capital is invested in various sectors by Crosslink Capital.
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Founded Year | Domain | Location | |
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Seed-stage investments are directed toward North American startups.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Forma.ai
Forma.ai has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include SeaMonster. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Cloud based sales performance management platform
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1997 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Forma.ai
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Forma.Ai Comparisons
Competitors of Forma.ai
Forma.ai operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Xactly, Spiff, Varicent, Atrium and SetSail, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Sales performance management software is provided for enterprises.
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| domain | founded_year | HQ Location |
A platform for saving and investing money is provided.
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| domain | founded_year | HQ Location |
Incentive compensation and sales performance solutions are provided for enterprises.
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| domain | founded_year | HQ Location |
Workforce analytics platform is offered for sales performance monitoring.
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| domain | founded_year | HQ Location |
SetSail is recognized as a provider of sales AI and data solutions.
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| domain | founded_year | HQ Location |
AI-powered loyalty, rewards, and employee engagement solutions are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Forma.Ai
Frequently Asked Questions about Forma.ai
When was Forma.ai founded?
Forma.ai was founded in 2016 and raised its 1st funding round 5 years after it was founded.
Where is Forma.ai located?
Forma.ai is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Who is the current CEO of Forma.ai?
Nabeil Alazzam is the current CEO of Forma.ai. They have also founded this company.
Is Forma.ai a funded company?
Forma.ai 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 of $10M, raised on Mar 11, 2021.
How many employees does Forma.ai have?
As of Apr 04, 2024, the latest employee count at Forma.ai is 31.
What is the annual revenue of Forma.ai?
Annual revenue of Forma.ai is $155.7K as on Mar 31, 2023.
What does Forma.ai do?
Forma.ai is established as a provider of AI-powered enterprise sales compensation software. Solutions are offered for sales performance management, including incentive compensation management, territory and quota planning, and sales planning advisory with advanced analytics. The platform is designed to unify sales data, optimize coverage, and drive representative motivation across various sectors. Integration with over 600 data sources is supported to create a comprehensive sales performance ecosystem for revenue leaders.
Who are the top competitors of Forma.ai?
What products or services does Forma.ai offer?
Forma.ai offers Forma Operator, Forma Architect, and Forma Prophet.
How many acquisitions has Forma.ai made?
Forma.ai has made 1 acquisition, including SeaMonster.
Who are Forma.ai's investors?
Forma.ai has 6 investors. Key investors include ACME Capital, Crosslink Capital, Golden Ventures, Uncork Capital, and Xfund.