Forma

Forma is a flexible benefits platform that lets employers fund customizable spending accounts — LSA, FSA, HSA, HRA, and one-off lifestyle stipends — that employees can spend through a curated Forma Store, the Forma Card, or claims reimbursement. The pitch is replacing a tangle of perk vendors with one configurable platform that drives high utilization (87% reported) and high member satisfaction. Customers include Stripe, Lululemon, Affirm, Etsy, Snap, Instacart, BCG, and Dyson, with the company managing roughly $500M in annual benefits budgets for 125+ companies. Originally launched as Twic, the company rebranded in 2022 alongside a $40M Series B led by Ribbit Capital.