Forma.ai Closes USD$45M Series B Financing

forma

Forma.ai, a Toronto, Canada-based provider of a Sales Performance Management solution, raised USD$45M in Series B funding.

ACME Capital led the round, with participation by Crosslink Capital and Golden Ventures, Uncork Capital as well as Gaingels.

The company plans to use the funds for product development and market expansion.

Forma.ai is led by Nabeil Alazzam as CEO. It provides a platform for organizations to manage their sales compensation management processes. The company’s platform automates taskwork by breaking down sales comp to its elemental building blocks of functions, rules, and workflows. These building blocks can then be reused by customers to automate redundant tasks. The system unites Finance, Sales Operations, Finance and IT in a single collaborative environment by using automated workflows.

Forma.ai is being used by a growing number of innovative global businesses with clients such as Autodesk, TrustPilot OpenTable, CareerBuilder and TrustPilot.

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