Forma.ai is a Toronto, Canada-based provider of a Sales Performance Management solution led by CEO Nabeil Alazzam. Its platform allows organizations to manage sales compensation processes by breaking compensation into elemental building blocks of functions, rules, and workflows. These building blocks are reused across customers to automate redundant tasks and reduce manual taskwork. The system leverages automated workflows to unite Finance, HR, Sales, Sales Operations and IT within a single collaborative environment. Clients include Autodesk, TrustPilot, OpenTable, CareerBuilder and others. The company raised a $45M Series B and intends to use the funds to expand product development and go-to-market capabilities. Forma.ai offers a cloud-based, unified Sales Performance Intelligence Platform that automates manual administrative processes across sales performance planning, implementation, and measurement. Its intelligence layer delivers limitless sales compensation plan designs, instant changes to complex plans, powerful forecasting, painless audits, and real-time transparency from sales reps to C-level leaders. The platform handles more than $1 billion in annual managed commissions and counts OpenTable, Stryker, IntelePeer, Ritter Communications, and Edmentum among its customers. The company reports 300% year-over-year growth and rapid enterprise adoption, and plans to scale its engineering teams to keep pace with mid-market and enterprise demand. Key differentiators include no-code rule-building, universal integration with ERP/CRM/HRIS and payroll systems, self-contained ASC 606/IFRS audit trails, and light-touch deployment that reduces professional services. CEO Nabeil Alazzam emphasizes end-to-end automation and augmented intelligence to drive the right sales behaviors, remove repetitive tasks, and improve ROI on compensation plans.

Total raised

$55M

Funding rounds

2

Latest round

Series B

Latest activity

May 2022