FormAssembly, the leading enterprise data collection platform, announced that it has secured $10 million in Series A funding from New York-based investment firm Level Equity. In connection with the investment, George McCulloch, partner at Level Equity, will join FormAssembly’s board of directors.
The funding will help FormAssembly accelerate its mission to enable businesses to collect and process data securely and responsibly. This is the bootstrapped company’s first infusion of capital since its founding in 2006, and comes on the heels of a new wave of consumer demand for data regulation; a demand which has recently paved the way for the European GDPR and numerous similar legislative attempts in the U.S.
“We’re in the midst of a massive shift in the way businesses, consumers, and regulators think about the collection, sharing, and use of personal data,” said FormAssembly CEO and Founder Cedric Savarese. “We have a unique opportunity to combine our state-of-the-art data collection and workflow automation platform with tools and services designed to help our customers be good stewards of the data entrusted to them. Level Equity, with its vast insight and experience, is the ideal partner to help us scale up our vision.”
FormAssembly is a 2018 Inc. 5000 Fastest Growing Private Company in America and serves thousands of customers, including Fortune 500 leaders such as Amazon, Aetna, and Volvo, across verticals where compliance and privacy are critical, such as financial services, healthcare, life sciences, and higher education.
“We’re excited to partner with FormAssembly, a company that has established itself as the leader in the Salesforce ecosystem, and is ideally placed to meet the growing demand for secure, compliant data collection,” said investor George McCulloch. “For most companies, building and running a data collection platform is labor intensive and costly due to the expenses incurred in ensuring compliance with complex and ever-increasing regulatory guidelines. FormAssembly alleviates those concerns by facilitating data compliance with an easy-to-use and cost-effective platform.”
FormAssembly intends to use the proceeds to aggressively expand its 100 percent, remote team. The company prides itself on having adopted a fully distributed organization, a move which has allowed it to attract top talent from around the globe, and better service its worldwide customer base with around-the-clock support. The emphasis on remote culture and healthy work-life-balance has allowed the off-the-beaten-path company to thrive – and earn a 2019 IndyStar Best Place to Work award in the process.
“As an employee, the virtual environment has afforded me the opportunity to move my family all around the country, and I could still do what I love here at FormAssembly,” said Drew Buschhorn, senior software architect, who recently celebrated 10 years at the company. “I firmly believe that autonomy plays a vital role in employee satisfaction and allows us to deliver the best possible product for our customers.”