About Formation AI
Formation AI is a Technology company based in San Francisco (United States) founded in 2015 by Jason Hickner, Ryan Hickner, and Ammon Haggerty, and was acquired by BCG in August 2022. Consumer intelligence platform analyzes data for personalized targeting. Formation AI has raised $224.7 million across 4 funding rounds from investors including Starbucks, BCG and BCG Digital Ventures. The company has 4 employees. The company was acqui-hired. Its focus areas include Enterprise Applications, MarketingTech, Marketing Optimization and Conversion Rate Optimization. Its legal entity is FORMATION, LLC. Its competitors include [24]7.ai, Intellimize and Sailthru; 3 of its 3 listed competitors have raised funding.
Company details
Formation was founded in 2015 in San Francisco, United States. A consumer intelligence platform is provided, enabling analysis of customer data, behavior, and motivations through reinforcement learning. Personalized solutions are delivered to target individuals rather than segments. Industries served include retail, hospitality, restaurants, travel, and grocery, with operations focused on data-driven customer goal management.
- Headquarters San Francisco, United States
- Employees 4
- Founders Jason Hickner, Ryan Hickner, Ammon Haggerty
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Website formation.ai
- Social LinkedIn X Facebook
- Acquired by BCG (Aug 2022)
- Legal Name Formation, Llc
Funding Insights of Formation AI
Formation AI has successfully raised a total of $224.7M across 4 strategic funding rounds. The most recent funding activity was a Post-IPO round of $110 million completed in December 2020. 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 $224.7M
- Total Rounds 4
- Last Round Post-IPO — $110M
- First Round $102M
(Oct 2015)
- Investors Count 3
All 4 funding rounds of Formation AI with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2020 | $110M | Post-IPO | – | – | – |
| Sep 2017 | $92.7M | Series B | – | – | – |
| Jul 2016 | $30M | Series A | – | BCG Digital Ventures | |
| Oct 2015 | $102M | Series A | – | – |
4 investors in total: 4 institutional.
Investors in Formation AI
Formation AI has secured backing from 4 investors, including venture fund and institutional investors. Prominent investors backing the company include Starbucks, BCG and BCG Digital Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
| bcgdv.com | ||||
Venture capital firm managing investments in biotechnology and pharmaceuticals since 1999. | versantventures.com | |||
High-quality coffees are roasted and served in limited-service restaurant chains. | 1971 | starbucks.com | Seattle, United States | |
Provider of business consulting & strategy, and risk management services | 1963 | bcg.com | Boston, United States |
Investor details for Formation AI
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of Formation AI
627 people are tracked at Formation AI (427 in leadership, 1 in board & advisors, 199 in team); the tracked headcount is 4.
| Name | Role | Group |
|---|---|---|
Jason Hickner | Co-Founder | Leadership |
Ryan Hickner | Co-Founder | Leadership |
Ammon Haggerty | Co-Founder & VP | Leadership |
Ross Lafleur | Managing Director & Senior Partner | Leadership |
Djon Kleine | Managing Director And Partner | Leadership |
Samantha Juraschka | Partner | BCG X | Leadership |
Blake Alberts | Managing Director And Partner | Leadership |
Sebastian Trebaczkiewicz | Global IT Senior Director - Enterprise Architecture | Leadership |
Maike Stoffers | Partner | Leadership |
Joshua Kellar | Managing Director And Senior Partner | Leadership |
Aparna Bharadwaj | MD & Partner; Global Leader, Global Advantage Practice | Leadership |
Matteo Coppola | Managing Director & Senior Partner; Global Leader, Risk & Compliance Practice | Leadership |
Colin Dinn | Managing Director - Platinion | Leadership |
Andrei Navitski | Managing Director And Partner | Leadership |
Rami Riad Mourtada | Partner & Director, Digital Transformation | Leadership |
Ruth Ebeling | Managing Director & Partner | Leadership |
Kedra Newsom Reeves | Managing Director And Partner | Leadership |
Suchita Shah | Managing Director And Senior Partner | Leadership |
Shishir Agarwal | Senior Partner And Managing Director | Leadership |
Jared Bennett Feiger | Managing Director And Partner | Leadership |
607 more people are available in the full profile.
Complete people profiles for Formation AI
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Formation AI
4 dated milestones of Formation AI across 7 years, from founding to its latest funding, stage changes and deals.
- Founded Formation AI is founded.
- Funding First funding round of $102.0M.
- Funding Latest funding round, Post-IPO, of $110.0M.
- Exit Acquired by BCG.
Competitors of Formation AI
Formation AI has 3 listed competitors in our database, 3 of them funded. They include [24]7.ai, Intellimize and Sailthru.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| 247.ai | 2000 | San Jose, United States | $22M | AI-powered platforms and services for customer experience management are provided. | ||
| intellimize.com | 2016 | San Mateo, United States | $52M | 71 | Conversion rate optimization and personalization are delivered to businesses. | |
| sailthru.com | 2008 | New York, United States | $67.55M | 124 | Personalized omnichannel experiences are generated via marketing automation. |
![[24]7.ai logo](https://img.thecompanycheck.com/b/247_logo.webp){kind=logo}
Detailed competitors of Formation AI
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in MarketingTech
3 companies that operate in the same segment as Formation AI (MarketingTech) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Provider of AI-powered customer relationship management software | 2005 | Cambridge, Massachusetts, United States | USD 100.7 M | USD 3.13 B | 8,250 | |
Zeta Global is recognized as an AI-powered marketing cloud. | 2007 | New York, New York, United States | USD 357.58 M | USD 1.3 B | 3,142 | |
Multi-channel online marketing tools are provided for small businesses. | 1998 | Waltham, Massachusetts, United States | USD 37 M |
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Related news about Formation Ai
Complete news archive for Formation AI
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Frequently Asked Questions about Formation AI
Formation AI was founded in 2015.
Formation AI is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Formation AI is a funded company, having raised a total of $224.7M across 4 funding rounds to date. The company's 1st funding round was a Series A of $102M, raised on Oct 2015.
Formation AI has 4 employees.
Formation was founded in 2015 in San Francisco, United States. A consumer intelligence platform is provided, enabling analysis of customer data, behavior, and motivations through reinforcement learning. Personalized solutions are delivered to target individuals rather than segments. Industries served include retail, hospitality, restaurants, travel, and grocery, with operations focused on data-driven customer goal management.
Formation AI's top competitors include [24]7.ai, Intellimize and Sailthru.
Formation AI has 4 investors. Key investors include Starbucks, BCG, BCG Digital Ventures, and Versant Ventures.
Formation AI operates through Formation, Llc.
Yes. Formation AI was acquired by BCG in August 2022.