Top new businesses of 2014: Formisimo
The analytics start-up helping online businesses across the world improve customer conversion rates
Founders: Al Mackin and Tom New
Launched: January 2014
Formisimo looks to identify the pain points of online company forms and although “not the sexiest part of a customer’s journey”, founders Al Mackin and Tom New have chanced upon a lucrative business opportunity with their cloud-based analytics tool.
After realising that there was no data driven way to optimise online forms, Mackin and New began to look at creating their own solution to provide real data to help companies better understand why visitors abandon their online forms. Offering businesses a “massive” return on investment, Formisimo’s service doesn’t just apply to online registration forms but also to donation and contact forms, as well as shopping checkouts for e-commerce.
Said to “transform online businesses” by increasing their customer conversion rates, in less than a year the tech start-up has signed up clients in 83 countries, including brands such as Secret Escapes, ASDA and Travelex, and has grown to a team of 10 employees.
The first Manchester-based company to be accepted onto leading European accelerator Seedcamp in seven years, Formisimo’s appeal has also translated to the investment world; in May this year it secured funding from Seedcamp, the NorthWestFund and two angel investors to the tune of £350,000.
With turnover set to hit £250,000 for year-end 2014, you can certainly expect to hear more about Formisimo in the year ahead.