Forma.ai
Forma.ai sells sales performance management software that handles incentive compensation and sales planning. The Toronto-based company has 194 employees and raised $58M, most recently in a Series B round in May 2022.
The growth story
Forma.ai grew from 55 to 194 employees between 2020 and 2026, raising $58M along the way, most recently a Series B in May 2022.
About
Forma.ai provides software for managing sales team performance, including territory planning, quota setting, and incentive pay calculations. Its platform integrates these functions and uses templates to speed up compensation plan creation. Customers include Autodesk, Stryker, and Trustpilot.
The company has grown to 194 employees since its 2016 founding. It raised $58M from investors including ACME Capital and Crosslink Capital, with its latest Series B round closing in May 2022.
Founders and leadership
Operations is Forma.ai's largest department with 52 employees. The company's leadership team is based in Toronto, where it was founded in 2016.
The Forma.ai org chart
Nabeil Alazzam (Founder and CEO) leads 52 mapped leaders with 7 direct reports. Click +N to expand a team; names link to the person’s public profile.
Departments, and which ones grew
Headcount by function: Customer Success and Support 48 (+60% YoY), Operations 36 (+24% YoY), Business Development 32 (+10% YoY), Engineering 30 (+30% YoY), Information Technology 11 (-21% YoY), Human Resources 5 (+25% YoY).
Talent flow
Forma.ai hires heavily from consulting firms like ZS and Quad Infotech, as well as competitors like Xactly. Its alumni often move to tech companies including Salesforce, Stripe, and Amazon. The University of Toronto is its top recruiting school.
Most common previous employers of Forma.ai staff: ZS (10), Quad Infotech (7), Mercer (5), University of Toronto (5), Polymath (4), Xactly (4). Former Forma.ai employees most often moved to Salesforce (4), Stripe (3), Amazon (3), Mastercard (2), infinitySPM (2), Amazon Web Services (AWS) (2).
Alumni worth knowing
The Forma.ai mafia
Eight Forma.ai alumni have founded companies, including Finta (13 staff), Unbundled Capital (6 staff), and Ozzy AI (3 staff).
8Shane Skiffington, was Advisor until 2024Adam Kitchen, was Director of Customer Operations until 2026Pranjalya S., was Consultant - Revenue Optimization until 2023Danton Estevam Pinto, was Senior Backend Engineer until 2024Kevin Gray, was Product Marketing Leader (Contract) until 2021
Mark Brady, was Strategic Account Executive until 2022Hiring now
Web traffic
Traffic mix: 84% direct, 14% search, 1% social, 0% paid.
What this company is made of
Most common skills at Forma.ai: Microsoft Excel (87), Leadership (80), Python (Programming Language) (80), SQL (78), Project Management (76), Data Analysis (72), Communication (57), Microsoft Office (50).
Where the team actually sits
Forma.ai people are concentrated in Ontario, Canada (46), Maharashtra, India (27), Greater Toronto Area, Canada (14), Canada (13).
Search footprint
Forma.ai attracts about 1,620 organic search visits a month, traffic worth roughly $29K a month if bought through ads. It gained 1,041 ranking keywords and lost 1,105 in the last period.
What employees say
- Compensation
- 3.80 / 5
- Career opportunities
- 3.70 / 5
- Senior management
- 3.30 / 5
- Work-life balance
- 3.10 / 5
Frequently asked
Forma.ai has 194 employees as of September 2026.
Forma.ai has raised $58M in total, most recently a Series B round in May 2022.
Forma.ai was founded in 2016 by Nabeil Alazzam.
Nabeil Alazzam (Founder and CEO) sits at the top of Forma.ai's reporting structure, with 7 direct reports.
The most common previous employers of current Forma.ai staff are ZS (10 people), Quad Infotech (7 people), Mercer (5 people).
Former Forma.ai employees most often move to Salesforce (4), Stripe (3), Amazon (3).
At least 8 companies have a founder who previously worked at Forma.ai, including Finta, Unbundled Capital, Ozzy AI.
Forma.ai attracts about 1,620 organic search visits a month, worth roughly $29K a month in equivalent ad spend.
The most common skills among Forma.ai staff are Microsoft Excel, Leadership, Python (Programming Language), SQL, Project Management.
Forma.ai staff are concentrated in Ontario, Canada (46), Maharashtra, India (27), Greater Toronto Area, Canada (14).
Forma.ai has about 48 people in Customer Success and Support, up 60% over the past year, as of September 2026.
Forma.ai has about 36 people in Operations, up 24% over the past year, as of September 2026.
Computed from 158 current and 233 former Forma.ai profiles, as of September 2026. Source: Crustdata.
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