Typeform, the intelligent online forms platform, has secured $135 million in its Series C funding round, led by Sofina, one of Europe’s leading venture capital companies. The rest of the round was made up by existing investors including General Catalyst, Index Ventures, and Accel.
This investment marks the largest amount ever raised by a Spanish-born software company, pushing Typeform’s value past the billion-dollar mark.
Overview of Typeform
Typeform, the Barcelona-based SaaS company known for its user-friendly experience creating forms and surveys, has recently announced a $135 million mega round of venture capital investment led by Sofina.
Founded in 2012, Typeform enables users to quickly design and host beautiful conversational forms designed to improve user experience. The company has seen major success with its platform with twenty million users across 190 countries and over 1 billion responses generated monthly.
This newly secured capital will enable them to expand their product capabilities and grow the business across global markets.
Overview of Sofina
Sofina is a global investment firm founded in Belgium by the eponymous Sofina family. Since its founding in 1995, Sofina has made a variety of investments in both listed companies and venture capital funds. The firm is focused on sectors where it has expertise, such as consumer goods, communications & media and healthcare.
Sofina led a round of $135 million in Series C funding for Typeform, an online survey and form building software company. This funding round was also backed by Lead Edge Capital, Accel and Valar Ventures, and current Typeform investors, Point Nine Capital and RTA Ventures.
This marks the second investment from Sofina into Typeform, following their initial €4 million investment in 2017. With this new funding Sofina joins an illustrious list of Typeform’s other investors, who have invested over $230 million into the company.
The new capital injection will further develop Typeform’s product offering and reinforce its position as a conversational data collection solutions leader.
Typeform Secures $135 Million in Series C Funding Led by Sofina
Typeform, a Barcelona-based software company specializing in data form creation and management, announced that it has secured $135 million in series C funding. Sofina, a leading venture capital firm, led the round.
This funding will help Typeform grow its customer base, expand its product suite, and scale its operations. But, first, let’s look at the details of this series C funding.
Details of the investment
Typeform, the leading online-survey platform with more than 3 million users worldwide, today announced that Sofina has led a $135 million round of Series C funding. The investment will primarily drive Typeform’s overall product development strategy and expansion into new international markets. The funding will also help fuel Typeform’s long-term vision of building an innovative platform where teams worldwide collaborate on ideas, get feedback and make decisions quickly.
Sofina led the comprehensive round, joined by existing investors General Atlantic and Index Ventures and new investors Atomico and Sweat Equity Ventures. Typeform has now raised over $230 million in funding from some of Europe’s leading financial experts.
This investment recognizes the tremendous growth of Typeform since launching in 2012; in its first year alone, paying customers grew by 550%. During this period, Typeform has grown many highly loyal users that are helping create meaningful conversations for businesses worldwide as part of a mission to Humanize Data Science through conversational experiences online.
By partnering with Sofina, who has over 30 years of experience in building successful companies from early stage through initial public offering (IPO), Typeform gains valuable expertise and access to new contacts and resources to further their growth ambitions.
Benefits of the investment
The capital injection of $135 million will allow Typeform to expand its product offering for both businesses and consumers, bolster its existing suite of tools, and produce new ones. In addition, the investment from major player Sofina will be a key element in helping Typeform reach new heights and market share.
This latest financing round will enable Typeform to lead the way in automated software that helps companies ask better questions through more engaging forms. These improved inquiry tools are projected to drive stronger customer relationships, increased user engagement, and upsells across different businesses.
The funding will also provide resources for heavy product development; support world-class marketing campaigns; expand global partnerships; improve customer service; and make key acquisitions. This capital injection will allow Typeform to fuel future growth while continuing to deliver the best user experience in the market today.
Impact of the Investment
Typeform’s latest funding round resulted in a total of $135 million in Series C Funding, led by the venture capital Sofina.
This significant injection of capital will allow Typeform to expand, and to better serve their customers across all markets.
This investment also has several other implications for the company. So let’s take a closer look.
How it will help Typeform
Typeform recently announced that it has closed a €117.5 million ($135 million) Series C funding, led by Sofina with participation from existing investors Accel, Point Nine Capital and SPG.
Typeform’s new funding will help it venture into alternative sectors and create products beyond customer surveys, such as those in market research or product feedback. This capital injection will also provide Typeform with leverage to become the software of choice for customer experience teams, accelerate its collaboration in virtual assistants, artificial intelligence solutions and conversational solutions; and fast track the development of its service and product portfolio.
Notably, Typeform aims to create smarter conversation tools that take advantage of datasets from almost 10 million customers worldwide collected in over 200 countries through its services.
The support from Sofina is likely to further fuel this ambition and make the customer experience process seamless for brands looking for digital solutions to simplify their business operations.
This investment adds another chapter to the success story of Typeform. It allows it to bring something new for its existing customers working on customer listening projects and present new growth opportunities for companies that have yet not adopted data-driven customer feedback practices.
How it will help Sofina
With this investment, Sofina will gain access to Typeform’s innovative features, aiding the growth of their portfolio of companies and helping more startups to flourish. Additionally, this funding will assist in expanding Typeform’s business through various global markets and one-on-one customer support and expand their services and product offerings.
Moreover, with Sofina’s resources backing up Typeform, they will have the opportunity to build on their ambitious momentum, allowing them to further develop high quality services that make complex data easy for everyone. Furthermore, Sofina’s expertise in the industry will add tremendous value to Typeform – helping them thrive in an increasingly competitive landscape.
Thus, Sofina’s investment in Typeform will help both companies grow together and ultimately create a sustained impact on the tech industry.
Conclusion
Typeform recently secured $135 million in Series C funding round led by Sofina, a global venture capital firm. This news highlights the continued success of the digital forms and surveys software, as Typeform expands its outreach to new customers and seeks to expand into additional markets with its current suite of products. The funding round also included notable participants such as Eight Roads Ventures and Accel, who have previously supported Typeform financially.
The raised capital will be utilized to scale up Typeform’s platform technology capabilities, bringing innovative functionality to an ever-growing customer base who utilize the communications tool for intelligent data gathering and feedback collection. Additionally, with the new funds enabling expanded R&D resources, Typeform can continue to provide world-leading data hosting services and added value functionalities designed to further customize users’ experiences.
Expectations for Typeform remain high following this milestone announcement, as Sofina’s position at the helm of the investor consortium demands greater accountability from all stakeholders to realize its vision of democratizing contactless communication technology through human-centric product design. Of course, only time will tell how this blockbuster investment will shape the outcome in 2021 and beyond; but that conversation is very much worth having!
Future outlook
Typeform, a leading online form and survey company based in Barcelona, has raised $135 million in its Series C financing round. This additional capital puts the company’s total funding to date at over $207 million, highlighting investors’ major confidence in the firm. European VC firm Sofina led this latest round, with participation from other Typeform investors such as Accel, Point Nine Capital and Rethink Education.
This significant infusion of capital will boost Typeform’s business operations and expand its reach further within the digital experiences sector. Moving forward, Typeform has ambitious plans to continue developing its product offering into new areas – such as AI-powered tools – leveraging the insights gained from customer feedback. These efforts are aimed at helping companies create more engaging online forms and surveys tailored to their customers’ needs and provide them with greater value than ever before.
The funding could also help with Typeform’s globalization ambitions as it looks to expand into new markets domestically and internationally. Recently, for example, Typeform partnered up with Singapore-based venture debt provider Innoven Capital for an undisclosed amount of investment to support its expansion plans in Southeast Asia and India. The assurance from investors that these global initiatives can be supported shows just how promising the future outlook is for Typeform.
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