Forma (formerly known as Twic), a San Francisco, CA-based life benefits platform provider, raised $40M in Series B funding.
The round was led by Ribbit Capital, with participation from Emergence Capital, Stripe, Designer Fund, Upside Partnership, and AngelPad.
The company intends to use the funds to make key hires across the organization, investing in sales and marketing, expand the employee-choice concept across the benefits industry and cover more categories putting emphasis on its large enterprise segment.
Led by CEO Jason Fan, and Max Hsieh, CTO, Forma provides a life benefits platform that enables modern companies to design and scale flexible, global benefits programs with options that fit employees’ lives, from health and wellness to lifestyle planning. The platform offers customizable employer-sponsored and pre-tax benefits to provide flexibility, choice, and personalization for employees.
Employee-directed benefits within the platform are scaled across six categories, including family and relationships, education and career, wellness and lifestyle, basic health and protection, money and health, and work and performance. Additionally, the platform offers data capabilities to give companies real-time insights to employee engagement, usage, and satisfaction. Companies can also create fully customized and insightful reports using Forma’s reporting function.
FinSMEs
08/03/2022