Forma.ai, a Toronto, Canada-based data science powered sales performance company, raised $10m in Series A funding.
The round was led by Crosslink Capital with participation from Golden Ventures, Panache Ventures, Uncork Capital, and Xfund.
The company intends to use the funds to scale its engineering teams and expand its business reach across the mid-market and enterprise segment.
Led by CEO Nabeil Alazzam, Forma.ai has built a cloud-based platform that automates manual administrative processes across every aspect of sales performance planning, implementation and measurement. Its intelligence layer delivers sales compensation plan designs, instant changes to complex plans, forecasting, painless audits, and full transparency to enterprise sales teams — from sales reps to C-level leadership. Handling more than $1 billion in annual commissions, Forma.ai counts OpenTable, Stryker, IntelePeer, Ritter Communications, Edmentum, and others among its customers.