Between 80 and 90 percent of startups fail, so the odds are stacked against you as a start-up company. Despite such a bleak statistic, Indianapolis-based software-as-a-service data management platform Formstack and its nearly 80 employees are celebrating 10 years in business this week with the company’s 500,000 users in 110 countries!
Initially created to provide a simple data capture, online forms solution, Formstack has evolved into a platform dedicated to helping users from all industries easily manage data, improve internal workflows (such as procurement, compliance and safety verification), and better engage with customers.
Formstack’s easy-to-use online form builder simplifies the process of capturing and managing data. Forms embed into your website, and all responses submitted on Formstack forms are stored in a user’s secure online account, making it easy to share data or export it to a PDF or Excel spreadsheet.
The company grew more than 1200 percent year-over-year revenue growth early on as it rapidly increased its user base. In 2015, Formstack reported a 125 percent increase in new revenue from its highest paid subscription plan.
Headquartered in Indianapolis, Formstack’s team includes as many remote employees as it does local team members. Formstack experienced 102 percent workforce growth last year, taking the company’s team to just under 80 people in locations across the U.S., as well as in Canada, Poland and the Netherlands.
“On our own remote team, we ensure that no one is on an island. Whether it’s through the use of tools to maintain collaboration or virtual games to increase team unity, boosted moral directly affects performance. We’re confident that this, as well as continuing to innovate data capture solutions, is key for our next 10 years of growth.”
Sustained growth and connected employees led Formstack to be ranked one of Indiana Chamber’s Best Places to Work in Indiana for the past four years. This year, the company has been nominated for a Company Culture of the Year Mira Award.
Formstack celebrated its 10-year anniversary at The Speak Easy in Broad Ripple on March 8, and is holding an anniversary webinar for current customers and partners on March 18. The company plans for continued growth of its diverse workforce and is focusing on helping customers streamline business processes and better manage their data.