Typeform, a Barcelona-based company that specializes in developing customizable form and quiz builder software, has received $135 million in a Series C funding round. With participation from both new and existing investors, including General Atlantic, Index Ventures, and Sofina, this new round of investment has pushed the company's post-money valuation to $935 million. In 2021, Typeform boasted over $70 million in annual recurring revenue (ARR) and tripled its ARR since 2018.
The surge in popularity of low-code and no-code tools has driven significant growth in the sector, leading to an increased demand for customizable forms and surveys. Typeform plans to use the funds to enhance product accessibility, streamline integrations, and expand its remote working team, aiming to generate more customer interactions via its platform. The company has already diversified its offering beyond design-led forms, branching into products like Typeform Chat, a no-code chatbot builder.
Despite competition from well-established players like Jotform and GoCanvas, Typeform remains optimistic about its growth, noting that it has over 125,000 paying customers. The company offers a free plan, which serves as a pool of potential customers for upselling paid plans with enhanced features and functionality. Typeform integrates with major tech giants, including Google and Microsoft, to help users import, analyze, and enhance their data across various platforms and tools.
According to CEO Joaquim Lecha, Typeform is focused on becoming the "essential platform for the marketing tech stack," on a mission to offer high-quality digital interactions that feel like real conversations. The company intends to continue investing in features, customization tools, and data visualization to provide its customers with valuable insights and more robust integration options.
The application of machine learning and artificial intelligence to product personalization is another area that Typeform is exploring. Its product, VideoAsk, allows customers to create videos and combine chatbot automation with the personal touch of video, resulting in asynchronous video conversations that offer a more human, face-to-face feel. This technology enables seamless speech-to-text transcription for conversations in multiple languages.
While most of Typeform's customers use the free plan, two-thirds of its paying customers began as free users. The company is seeing a high rate of organic growth. Around 80% of new customers sign up because they have experienced the benefits of Typeform or know someone who has used its tools. The company is focused on scaling its business and providing the gold standard for online interactions. Currently, the US remains its largest market, followed by Europe.
When discussing possible routes for expansion and further investments, Lecha emphasized the company’s focus on its customers, asserting that Typeform is prepared to consider any options that help them achieve a world of more personal business relationships.
Platforms like Typeform highlight the increasing demand for no-code and low-code tools in the tech industry. The demand for no-code and low-code app development has grown along with platforms like AppMaster, which helps customers create backend, web, and mobile applications with visual tools and minimal coding. As such tools become ever more popular, the landscape for digital interaction and customization continues to evolve rapidly.
