Typeform is looking to reinvent online forms, an area that has barely changed at all since the invention of the web.
In order to do this, the company has raised a $US15 million (£9.7m, €13.3m) Series A round from Index Ventures, Point Nine Capital, and Anthony Casalena, CEO of Squarespace, and, most curiously, two Facebook execs: Javier Olivan, VP of growth and Jay Parikh, global head of engineering and infrastructure.
The Barcelona-based company has received a total of $US2.2 million (£1.4m, €1.9m) in funding from two rounds prior to its Series A, making the new cash injection a step up that CEO David Okuniev says will go toward “scaling the team in Barcelona and expanding operations to the US.”
The company’s genesis came from a high-end toilet design company that asked the team to create a lead generation form, exposing just how bad forms had become on the web. According to Typeform, the average completion rate of legacy forms sits at 13%. The company’s forms, in contrast, sit at 55%.
The company is seeing over 4 million answers a month (roughly 130,000 answers per day) across a broad range of partners. This number is likely to increase, Okubiev said, as Typeform expands in other areas beyond online forms. “Payments is quite a popular use case for us,” he told Business Insider. “We currently process over $US500k a month for our customers in collected payments.”
In terms of competition, Typeform has a clear plan. “User experience is our main differentiator,” Okubiev says. “[And] as far as the forms go, the way you build forms is also a differentiator.” Going forward, Typeform plan to introduce a collaborative team-based version that will become “part of business workflows.”
In addition to being a good feature, collaborative forms also work well with the business model of the company — freemium with a “Pro” plan for $US25/month (£16/month) — paving a way for growth that can be subsidised by the new round of funding.
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