Typeform, is a Barcelona-based startup, created in 2013, that has developed software to create, manage and collect online forms and information. The company has grown significantly in recent years, thanks to the support of investors, and is now preparing to make the leap to the US.
Its business model falls into what is known as 'SaaS', companies that offer 'software' as a service whose operation is charged periodically (monthly or yearly). It has a free plan, with a strong limitation both in the number of respondents and in the number of fields to fill in. After that, there are two plans: one for $25 per month and a more comprehensive one for $59.
The forms market has not been exploited by new startups, which still offer very basic services in the sector. Although Typeform does have to face big companies like SurveyMonkey - which has raised almost $700M from investors like Salesforce, JP Morgan, Morgan Stanley or T.Rowe and has annual revenues of more than $200M, and even Google with its Form product.
The company aims to expand in the US. This market accounts for just over half of all revenues. And they want to grow it. They expect to open an office in the first few months of 2018. To this end, they have already created a subsidiary based in the state of Delaware.
Typeform's 2016 results, as reported in the company's commercial register, show revenues of more than €5m. This is more than three times the figure achieved in 2015. For 2017, Typeform expects a turnover of €10M.
Despite its rapid growth, the company is still not profitable (in 2016 it lost just over €2M). This is due to the costs they have had to bear in order to position themselves. One of the highest expense items has been staff costs. In 2016 alone, they spent the same amount on equipment as they invoiced. They closed the year with 155 employees and today there are already 170, three times more than a year earlier. Half is for product (engineering, design...) and the other for operations (with more weight to finance and human resources, with a new office recently opened in Barcelona).
Typeform has just closed a €29M round, led by General Atlantic, to improve the technology used in its online forms system.
The company founded by Robert Muñoz and David Okuniev already raised a Series A round of $15M in September 2015, which allowed them to establish themselves in San Diego (USA). In addition, Typeform has achieved several recognitions, such as being one of the five most promising Spanish startups for the Tech5 programme or included in the list of the 100 'hottest' startups in Europe by the Wired magazine.
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