Overview

Forma provides a flexible benefits platform designed for HR teams and employers to enhance their employee benefits offerings, particularly in remote and hybrid work settings. The platform allows employers to tailor a variety of benefits to meet the specific needs of their employees, promoting higher utilization and satisfaction. Forma addresses common HR challenges, such as underutilization of benefits, by simplifying access and increasing awareness among employees. Additionally, the platform includes tools for monitoring risk and compliance, ensuring that companies adhere to relevant regulations. Unlike many competitors, Forma focuses on creating a more accessible and customizable benefits experience, aiming to foster a healthier and more engaged workforce.

Simplify's Take

What believers are saying

• Growing demand for personalized benefits boosts Forma's market potential.
• Remote work trends increase the need for flexible benefits platforms like Forma.
• Advancements in AI enable Forma to offer more personalized benefits solutions.

What critics are saying

• Emerging startups with similar platforms could reduce Forma's market share.
• Economic downturns may lead to reduced spending on employee benefits.
• Data privacy concerns could undermine trust in Forma's platform.

What makes Forma unique

• Forma offers a curated vendor collection with preferred pricing, eliminating reimbursement hassles.
• The platform provides flexible benefits tailored to remote and hybrid work environments.
• Forma ensures compliance with regulations through continuous risk and compliance monitoring tools.

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Funding

Total Funding

$38.9M

Above

Industry Average

Funded Over

1 Rounds

$40,000,000

Series B

Mar 2022

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Above Average

Industry standards

Ind Avg. $35M

$4M

$30M

$40M

$45M

$65M

$100M