A Spanish startup that wants to reinvent online forms has raised £9.7 million in funding

Typeform is looking to reinvent online forms, an area that has barely changed at all since the invention of the web.

In order to do this, the company has raised a $15 million (£9.7m, €13.3m) Series A round from Index Ventures, Point Nine Capital, and Anthony Casalena, CEO of Squarespace, and, most curiously, two Facebook execs: Javier Olivan, VP of growth and Jay Parikh, global head of engineering and infrastructure. 

The Barcelona-based company has received a total of $2.2 million (£1.4m, €1.9m) in funding from two rounds prior to its Series A, making the new cash injection a step up that CEO David Okuniev says will go toward "scaling the team in Barcelona and expanding operations to the US."

The company's genesis came from a high-end toilet design company that asked the team to create a lead generation form, exposing just how bad forms had become on the web. According to Typeform, the average completion rate of legacy forms sits at 13%. The company's forms, in contrast, sit at 55%. 

The company is seeing over 4 million answers a month (roughly 130,000 answers per day) across a broad range of partners. This number is likely to increase, Okubiev said, as Typeform expands in other areas beyond online forms. "Payments is quite a popular use case for us," he told Business Insider. "We currently process over $500k a month for our customers in collected payments." 

In terms of competition, Typeform has a clear plan. "User experience is our main differentiator," Okubiev says. "[And] as far as the forms go, the way you build forms is also a differentiator." Going forward, Typeform plan to introduce a collaborative team-based version that will become "part of business workflows."

In addition to being a good feature, collaborative forms also work well with the business model of the company - freemium with a "Pro" plan for $25/month (£16/month) - paving a way for growth that can be subsidised by the new round of funding.