Forma vs Deputy
Side-by-side comparison of AI visibility scores, market position, and capabilities
Forma (San Francisco) is a flexible benefits platform offering personalized lifestyle spending accounts across wellness, learning, and childcare categories; raised $40M Series B; formerly known as Twic.
About
Forma is a San Francisco-based flexible benefits platform that replaces rigid, one-size-fits-all benefit plans with personalized lifestyle spending accounts (LSAs). Employers set a budget and define eligible categories—wellness, learning, home office, childcare, and more—while employees spend through a dedicated Forma card or reimbursement portal. The platform integrates with major HRIS and payroll systems, giving HR teams real-time utilization data and compliance controls without administrative overhead. Founded in 2017 and formerly known as Twic, Forma raised $40M in Series B funding and counts hundreds of mid-market and enterprise employers among its customers.\n\nForma's product philosophy centers on benefit equity: every employee receives the same dollar value but can allocate it toward what matters most to their individual life stage and circumstances. The platform supports dozens of pre-configured spending categories and allows custom merchant rules, giving employers flexibility to align benefits with their culture and values. Employees access their balance via a mobile app, web portal, or physical card, and Forma handles receipts, compliance categorization, and IRS substantiation automatically.\n\nIn a competitive HR tech market increasingly focused on total rewards differentiation, Forma positions itself as an antidote to benefit fragmentation. Rather than managing separate vendors for gym reimbursements, tuition assistance, and commuter benefits, HR teams consolidate everything into a single LSA or multi-account structure. The company targets the 200-to-5,000-employee segment where benefits complexity is high but enterprise HRIS platforms often lack native LSA tooling.
Workforce scheduling, time tracking, and labor compliance platform for shift-based businesses. Sydney Australia, raised $210M+, serves 330,000+ workplaces globally.
About
Deputy is a cloud-based workforce management platform built for shift-based and hourly industries including retail, hospitality, healthcare, and logistics. Founded in 2008 in Sydney, Australia, the company has raised over $210 million in venture funding and grown to serve more than 330,000 workplaces across 100+ countries. Its core product combines employee scheduling, time and attendance tracking, and labor compliance tools into a single mobile-first platform.\n\nDeputy's scheduling engine uses AI to optimize shift assignments based on demand forecasts, employee availability, and labor law constraints. Managers can publish schedules in one click while the system flags overtime risks, break violations, and award interpretation issues specific to each jurisdiction. The mobile app allows workers to view shifts, clock in and out via GPS or facial recognition, and swap shifts without manager intervention.\n\nIn 2024 and 2025, Deputy accelerated its enterprise go-to-market with deeper integrations into payroll systems like ADP, Gusto, and Xero, and expanded its compliance engine to cover complex industrial award rules in Australia and the UK. The platform's breadth — from single-site SMBs to multi-location enterprise chains — positions it as one of the most widely deployed workforce scheduling solutions globally.
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