Forma lands $40m Series B

Life benefits platform Forma has raised $40m in Series B funding in a mission to transform employee benefits for the modern workforce.

The round was led by Ribbit Capital, with participation from Emergence Capital, Stripe, Designer Fund, Upside Partnership, and AngelPad.

Forma, formerly known as Twic, said it enabled modern companies to design and scale flexible global benefits programmes with options that fit employees’ lives, from health and wellbeing to lifestyle.

The company said the funding will be used to accelerate product development, invest in sales and marketing, and make key hires.

Jason Fan, co-founder and chief executive officer, said, “Forma’s vision is to help the modern workforce find harmony at work and in life. We founded the company to help employers provide flexible benefits during important life moments that matter. This new investment will power Forma’s next stage of growth as we accelerate the company roadmap and double down on our core customers.”

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