Funding round
Formstack Growth
Reported as "Growth Equity"
Formstack, which works in no-code productivity platform development in Denver, raised $425M in a Growth round announced on 18 Nov 2021, led by Silversmith Capital Partners and PSG. 2 firms took part, 1 of them already investors.
$425M
Amount raised
Not disclosed
Post-money valuation
2
Investors
2 leads
Valuation
What this round says about the price
Formstack did not disclose a valuation in this round. It is Formstack's first venture round on record, 15 years after it was founded in 2006. No later venture round is on record for Formstack.
Formstack's funding rounds
This is the only venture round on record for Formstack.
- Growth this round 18 Nov 2021, led by Silversmith Capital Partners and PSG $425M
Investors
Who put money in
Silversmith Capital Partners and PSG led the round. PSG had backed Formstack before.
Lead investors
- backs 31 venture-backed companies new investor
- backs 53 venture-backed companies existing investor
Joined the board: Jim Quagliaroli (Silversmith Capital Partners), Andrew Heim (PSG) and Tom Reardon (PSG).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
432 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $57M, and this round was 7.5 times the median. The closest in time, other companies' Growth rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Dream Sports Tech Companies | 24 Nov 2021 | $840M | $8.00B | Falcon Edge and DST Global |
| Intellistack Tech Companies | 18 Nov 2021 | $425M | not disclosed | not named |
| Tech Companies | 23 Nov 2021 | $350M | not disclosed | K1 Investment Management |
| Armis Tech Companies | 29 Nov 2021 | $300M | $3.40B | One Equity Partners |
| Tech Companies | 25 Nov 2021 | $300M | $5.00B | Insight Partners |
| Tech Companies | 10 Nov 2021 | $240M | $1.00B | not named |
| Tech Companies | 3 Nov 2021 | $234M | not disclosed | SoftBank Corp. |
| Consensys Tech Companies | 17 Nov 2021 | $200M | $3.20B | Marshall Wace and Third Point |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Formstack raise in its Growth round?
Formstack raised $425M in its Growth round, announced in Nov 2021.
Who led Formstack's Growth round?
Silversmith Capital Partners and PSG led it.
What was Formstack's valuation at the Growth round?
It was not disclosed.
How does it compare with other Growth rounds in Tech Companies?
432 Growth rounds in Tech Companies within a year either side disclosed an amount; the median was $57M, and this round was 7.5 times the median.