Facebooktwitterlinkedin

Typeform is an online tool that allows you to create forms and surveys, a no-code SaaS platform that help companies grow their business by engaging with their audience, offering people-friendly forms, quizzes, surveys, and asynchronous video solutions.. Typeform’s history goes back to 2012 when Robert Muñoz and David Okuniev created the startup after realizing how complicated online form tools were, in addition to lacking designs.

Thus, Typeform’s main objective was to revolutionize boring forms and turn them into templates that users can customize, making them more agile and fun, an idea that has gained great popularity. To use Typeform, you will need to create an account and then log in. Once you are logged in, you will be able to create a new form or survey.

And while its usefulness has never been denied, online forms were perceived as something tedious, boring and in some cases caused distrust in users. After years of experimenting and managing to create the tool that not only allows you to create custom forms but also collect the necessary data to carry out marketing campaigns, success is expressed in numbers: according to their own data, more than half (56%) of users who access their surveys complete them, a conversion percentage much higher than traditional ones.

There are many competitors of Typeform, but some of the main ones are Google Forms, SurveyMonkey, and Wufoo. Jotform is another popular option.

March of 2022: a historic round of funding for a Spanish startup

Typeform’s good evolution peaked in March 2022, when it closed a financing round of 135 million dollars (122 million euros), led by the Belgian private equity fund Sofina and the participation of previous investors, Point Nine Capital and Connect Ventures, as well as joining Top tier Capital Partners , GP Bullhound, Teamworthy Ventures and Trium Venture Partners.

The investment left the company bordering on unicorn status, since its valuation was placed at 935 million dollars (around 850 million euros).

As Joaquim ‘Kim’ Lecha, CEO of Typeform, assured at that time in his statement: “I want to take this opportunity to applaud the tireless work of Typeformers around the world. None of this would be possible without the commitment of our entire global team, and each Typeformer has a role to play in our future success.

We have made great progress in building a unique and consistent company. Our brand promise is to help our customers succeed by attracting people: today, more than 125,000 companies around the world use Typeform, increasing and attracting their audiences through more than 500 million interactions per year”.

“In addition to being a validation of what we have built, this investment is also recognition of the scale of the opportunity that Typeform is addressing: 89% of companies say that the online channel is the main one for customer interaction , however, only 34% of companies treat customers as unique individuals. and that great percentage is where Typeform comes in”. Lecha assured in his statement.

Typeform, which was founded a decade ago and raised more than $187 million (€170 million) before the explosion of no-code or low-code solutions we’ve seen in recent years, offers a suite of services for professionals who are not technology experts, allowing them to create and implement their own custom experiences and workflows—an innovative market that Typeform has conquered.

“Almost four out of every five Typeform customers come to us organically, driven by the exceptional experiences we offer and the opportunities we unlock. According to a survey we conducted, 95% of customers said Typeform helps make their brand shine and 87% reported higher completion rates,” Lecha concluded.

According to the company, Typeform’s annual recurring revenue (ARR) tripled in the 2018/2021 period, reaching $70 million (€60 million), with plans to grow even more as more companies seek out digital tools to increase their own sales.

“We’re redefining how brands and customers connect in the digital world by designing new ways to make online interactions more human. Through authentic and personalized engagement, we make sure every interaction opens the door to growth with better relationships and customer insight,” said Joaquim ‘Kim’ Lecha, Typeform CEO following the March 2022 funding round.

November of 2022: layoffs at Typeform

This upward trajectory seemed to be cut short in November of 2022, when the company announced the layoffs of 12% of its workforce, around 50 jobs. From the startup they assured that it was a difficult decision, but necessary to continue being competitive in the current economic environment.

The Typeform team had grown a lot in the last year, closing 2021 with an increase of 40% in the number of employees. This growth seemed logical given the situation of growth of the startup that in that same exercise had increased its income by 45%. However, this effort to expand its structure had left a first warning to the company, in the form of losses: it closed 2021 with negative results of 16 million euros.

This reduction in staff occurs in parallel to that of other large technology companies such as Facebook, Amazon or Twitter. In all these cases, the uncertainty about the economic situation, the reduction in income and a workforce that had grown a lot in a short time are among the common denominators.

Keep informed of the most relevant news on our Telegram channel

Write a comment