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Forma.ai One of Canada’s 50 Fastest-Growing Companies — Again!

After ranking highly in its first year of entry, leading sales compensation solution Forma.ai has been recognized again for continued growth among Canada’s most promising companies.

Forma.ai ranks 48 out of 430 companies in The Globe and Mail’s Report on Business: Canada’s Top Growing Companies report, which looks at the fastest-growing independent Canadian companies by revenue growth over three years. Forma.ai previously ranked #45, with 3-year revenue growth of 1,293 percent. 

“We help companies grow by bringing together all the components of compensation management into a single AI-supported solution, enabling our customers to better motivate their sales teams and drive their desired business outcomes,” says Forma.ai CEO and founder Nabeil Alazzam. “Our continued rapid growth proves that organizations are seeking a radically different approach to sales compensation, one that is agile and data-driven. We are pleased that our growth has been recognized with Forma.ai’s second inclusion in The Report on Business rankings.”

Repeating its feat as a Top 50 fastest-growing company, Forma.ai is honored to be recognized alongside other innovative businesses. Among the 430 organizations on the list are StackAdapt, Cronos Group, Talent.com, and hundreds of other companies that — like Forma.ai — have shown continued resilience to meet customer needs and rise above rocky macroeconomic circumstances.

Canada’s Top Growing Companies is an editorial ranking launched in 2019. It aims to celebrate the boldest entrepreneurial achievement by identifying and bringing the accomplishments of innovative businesses in Canada to the forefront. Companies had to complete an in-depth application process and fulfill requirements to qualify for this voluntary program.

To ensure a level playing field for participating companies, reported revenues are subject to adjustment at the discretion of Report on Business. For example, if a reported fiscal year is not 12 months in length, or the two fiscal years used in the calculation are not three years apart, then an equitable measurement might be achieved by any or all of:

  • Pro-rating the revenue of a reported period;
  • Including revenue from months adjacent to the reporting period;
  • Time-shifting of the periods used in the final calculation.

“Canada’s Top Growing Companies recognizes the tremendous ambition and innovation of entrepreneurs in Canada,” says Dawn Calleja, Editor of Report on Business magazine. “The next generation of Canadian businesses can draw inspiration from this ranking.”

“In an uncertain world, the success stories of the companies marked in this year’s Report on Business magazine’s list of Top Growing Companies are a beacon of optimism,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “The Globe and Mail congratulates them on their achievements.”

See the full list here.

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