Codeless Forms Specialist Typeform Raises $135M in New Funding
Startup Typeform SL, which today provides a widely used forms development platform of the same name announcement that he raised $135 million in new funding.
Investment firm Sofina led the funding round with participation from more than half a dozen others, including General Atlantic and Index Ventures. Typeform is now valued at $935 million.
Barcelona-based Typeform provides a platform that allows business users to create forms with slideshow-like functionality. Questions in a Typeform form are not displayed on a single page, but rather appear one at a time. When a user fills out a section of a form, the next section loads.
Typeform claims its approach to interface design allows companies to dramatically improve user engagement. The startup complaints that in some cases, companies using its service can increase the amount of data they collect through forms such as customer satisfaction surveys by 95%.
Typeform’s value proposition has won over 125,000 organizations since the startup launched in 2012. His clients include major brands such as Lyft Inc., Airbnb Inc. and Volvo Cars. Character shape Recount TechCrunch on today’s funding announcement that its annual recurring revenue topped $70 million in 2021 after tripling in the previous three years.
In addition to helping businesses increase the amount of data they collect using forms, Typeform also promises to simplify the task of processing collected data. Typeform can automatically sync form responses with a company’s line-of-business applications. Feature requests received by a software vendor, for example, can be synchronized with their software development team’s project management tool.
One of the contributors to Typeform’s popularity is that it doesn’t require coding expertise to use.
Business users can create a form in minutes from pre-packaged templates provided by the startup. A feature called conditional logic allows forms to be customized based on user input. An e-commerce company, for example, could create a customer satisfaction survey that customizes the questions it displays based on the product the user purchased.
“We are in a strong position to continue to empower businesses and their employees to grow and engage their audiences as online interactions become increasingly critical to building an enduring brand,” said Joaquim Lecha, CEO of Typeform. “Our goal, as always, is to create long-term value for our customers through Typeform’s simple yet powerful self-service interaction experiences.”
The market for software tools that help companies collect user feedback is large. Qualtrics International Inc., a provider of tools that help companies collect customer and employee feedback, raised $1.5 billion when it went public last year. Qualtrics was previously a division of enterprise software giant SAP SE.
Measuring user sentiment is just one of the many use cases targeted by Typeform. According to the startup, its platform can also be used to create forms that help users register for online services, make online purchases, and participate in market research initiatives, among other things. Typeform’s platform supports many different use cases, allowing the startup to target potential enterprise customers across a significant number of market segments.