Employee benefits management platform Twic rebranded to Forma while raising cash from investors including existing backer Stripe.

Forma, a US-based provider of employee benefits management software, secured $40m on Tuesday in a series B round backed by payment services provider Stripe.

Venture capital firm Ribbit Capital led the round, which also featured Emergence Capital, Designer Fund, AngelPad and Upside Partnership.

Founded in 2017 as Twic before rebranding this week, Forma has built a software platform that lets employers design and grow flexible packages for their employees covering areas such as health and lifestyle benefits.

The funding will…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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