How Much Did Formstack Raise? Funding & Key Investors

Formstack has successfully raised funding through three rounds, with the most recent being a Private Equity round led by PSG Equity and Silversmith Capital Partners. The platform offers a suite of tools for creating digital forms, generating documents, collecting digital signatures, and building automated workflows.

Keep reading to explore the intricacies of Formstack's fundraising journey and the investors backing this innovative platform.

What Is Formstack?

Formstack is a workplace productivity platform based in Fishers, Indiana, United States. The company specializes in cloud data services, document preparation, education, enterprise software, lead generation, mobile, productivity tools, SaaS, small and medium businesses, and software. It employs between 101-250 people.

Formstack offers a suite of tools for creating digital forms, generating documents, collecting digital signatures, and building automated workflows. The platform is designed to be user-friendly and requires no coding, making it accessible for organizations of all sizes.

How Much Funding Has Formstack Raised?

1. Private Equity Round
   • Amount Raised: USD 425,000,000
   • Date: November 2021
   • Lead Investors: PSG Equity, Silversmith Capital Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the customer base, workforce, and scale go-to-market and product development activities.
2. Series Unknown
   • Date: June 2014
   • Investor Count: 25
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Likely aimed at scaling the business and expanding product offerings.
3. Series A
   • Date: September 2008
   • Investor Count: 2
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Likely aimed at initial growth and development of the platform.

Total Amount Raised: USD 425,000,000. Current Valuation: Not publicly disclosed.

Key Investors

• PSG Equity
  • Details: PSG Equity is a growth equity firm that partners with lower middle-market software and technology-enabled service companies. They have been a significant investor in Formstack, participating in multiple funding rounds.
  • Investment Focus Areas: Software, technology-enabled services, lower middle-market companies.
  • Notable Investments: Formstack, other investments not publicly disclosed.
• Silversmith Capital Partners
  • Details: Silversmith Capital Partners is a growth equity firm that invests in high-growth, profitable companies in the software and healthcare sectors. They have been a key investor in Formstack, contributing to its recent funding rounds.
  • Investment Focus Areas: Software, healthcare, high-growth companies.
  • Notable Investments: Formstack, other investments not publicly disclosed.

What's Next for Formstack?

Formstack is poised to capitalize on the growing demand for no-code workflow automation solutions. With a significant market potential, the company aims to expand its customer base and enhance its platform through strategic acquisitions. The recent $425 million investment will be instrumental in scaling workforce and go-to-market activities, positioning Formstack to meet the increasing needs of digital transformation across industries.

Future fundraising opportunities seem promising as Formstack continues to grow and innovate. The company may attract additional investments to further expand its capabilities and market reach. However, challenges such as competition from established players like Adobe and maintaining profitability while scaling operations could pose hurdles. Continuous innovation will be key to staying ahead in the competitive landscape.

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