Typeform, the Spanish leader in web forms, raises more than €29M in a round led by General Atlantic. The company has tripled its turnover in the last year and has been included in the list of the 100 'hottest' startups in Europe by Wired magazine.
About Typeform
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.
En el mercado de los formularios no ha sido explotado por las nuevas startups, que todavía ofrecen servicios muy básicos en el sector. Aunque Typeform sí que tiene que hacer frente a grandes empresas como SurveyMonkey – que ha recaudado casi $700M de inversores como Salesforce, JP Morgan, Morgan Stanley o T.Rowe y que tiene ingresos anuales de más de $200M, e incluso Google con su producto Form.
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.
Corporate finance analysis Typeform
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 receives €29M
Typeform has just closed a €29M round, led by General Atlantic, to improve the technology used in its online forms system.
La compañía fundada por Robert Muñoz y David Okuniev ya levantó una ronda Serie A de $15M en septiembre de 2015, lo que les permitió establecerse en San Diego (EEUU). Además, Typeform ha conseguido diversos reconocimientos, como ser una de las cinco startups españolas más prometedoras para el programa Tech5 o incluida en la lista de las 100 startups más ‘hot’ de Europa por la Wired magazine.
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