Press Release March 11, 2022

Forma Raises $40 Million in Series B Funding

TheTechnology team advised Forma on its $40 million Series B funding round, led by Ribbit Capital.

Forma (formerly Twic) is a discretionary benefits platform that enables modern companies to design and scale flexible, global benefits programs with options that fit employees’ lives, from health and wellbeing to lifestyle and beyond.

Forma’s existing investors participated in the round, including Emergence Capital, Stripe, Designer Fund, Upside Partnership, and AngelPad. Various angel investors, including Shopify founder Tobias Lütke and Airbnb co-founder Joe Gebbia, also participated in the round. The new funding will be used to accelerate product development, launch new features, invest in sales and marketing, and add key hires across the organization.

The Goodwin team was led by Andrew SparksAdi SudarshanDiana Cao and Cristina Provencio (Corporate), Ginggi Storer and Rick Ballard (Intellectual Property), Ora Grinberg (Tax) and Michael Whalen (Fintech).

A separate Goodwin team represented Ribbit Capital and was led by Craig SchmitzMichelle Knoop, Bryan Edelman and Michael Stevens (Corporate), and Ashleigh Nickerson (Intellectual Property).

For more details, read the press release and article in TechCrunch.