Forma.ai: From Client Pains to an 8-Figure ARR SaaS Company

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Nabeil Alazzam is the founder and CEO of Forma.ai, a sales compensation platform driven by collective data models and AI.

In 2014, Nabeil was working as a consultant with Fortune 500 companies helping to set up and implement sales compensation plans.

He saw firsthand how manual the implementation was. And once live, any changes to compensation would often take 6 to 8 months to implement.

It was this experience that sparked the idea for Forma.

Two years later, after he'd moved onto another job, an old client contacted Nabeil needing help updating their system. He seized this chance to pitch his vision for a software product that didn't yet exist.

The client told him that they would give it a shot if he could get a working product to them within 8 months.

This was the opportunity he had been waiting for.

Nabeil left his job and incorporated Forma in 2016. With no funding yet, he used his savings to hire a small team and build the initial product out of his dining room.

Today Forma is an 8-figure ARR business that has raised $58 million and has grown to a team of over 125 people.

This episode is part of our Bootstrapping series.

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Links

Forma.ai: Website | LinkedIn | X
Nabeil Alazzam: LinkedIn | X
Omer Khan: LinkedIn | X

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