Pros
I was a former fellow in their program and experienced first hand their overwhelming knowledge/passion/support to empower Fellows to pursue their dream careers in tech. They are a team of extremely brilliant, highly motivated, and kind people who truly give their all on the day-to-day and I am super grateful to be a part of this team. I work closely with the CTO to build features/work on bug fixes and he is one of the best mentors I've ever had. He genuinely cares about your career and wants you to succeed(very much mirroring the mission of Formation). He is a major pro. Also, the CEO cares very much about each employee and making sure everyone is aligned with their goals. Like when you onboard, you meet with team members you'll work closely with to get to know each other’s working style which leads to a better understanding of each other and in general more productiveness. She's built/continues to strive for an open environment to voice our opinions and she empowers us to be the best version of ourselves.
Cons
I genuinely can't think of one.