SAN FRANCISCO, Forma, a life benefits platform, announced it has raised $40 million in Series B funding, led by Ribbit Capital. All of Forma's existing investors participated in this round, including Emergence Capital, Stripe, Designer Fund, Upside Partnership, and AngelPad.

The new funding will be used to accelerate product development, invest in sales and marketing, and key hires across the organization. Forma recently announced a new brand name to reflect the evolution of its business and renewed focus on matching people with benefits that matter to them.