The funding will help Forma.ai accelerate product development and enhance its go-to-market efforts. Here are the top-line bullets you need to know.
Forma.ai, a provider of sales compensation automation solutions, has raised $45M in a Series B. The round drew participation from ACME Capital, Crosslink Capital, Gaingels, and Xfund, among others.
HOW’S THE COMPANY PERFORMING?
- Canada-based Forma.ai helps companies tailor sales compensation based on individual performance and behavior.
- The company reportedly saw its revenue grow 400% last year and has $1B+ in annual managed commissions
- Autodesk, OpenTable, TrustPilot, and CareerBuilder are included among its client base.
- The startup is supported by a team of 120+ employees spread across Canada and the US.
Source: Forma.ai
WHY DOES THE MARKET MATTER?
- The global sales performance management (SPM) market is expected to reach a value of $3.4B by 2026, growing at a CAGR of 14.9%, according to Markets and Markets.
- Organizations are increasingly turning to these solutions to enhance visibility into sales performance and avoid payment inaccuracies.
