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§ Private Profile · Toronto, ON, Canada
no-code collaboration platform enabling businesses to build custom apps, internal tools, and customer engagement solutions for SMBs.
Formaloo is a no-code collaboration platform that enables businesses to build custom applications, internal tools, and databases, with offices in Tallinn, Estonia, and Toronto, Canada. Operating on a freemium model, the company targets small and medium-sized enterprises seeking to consolidate their software subscriptions, reduce operational costs, and manage complex workflows without requiring specialized coding expertise. The platform has successfully scaled to support over 25,000 business users who have collectively created more than 650,000 applications and databases. Formaloo raised €2 million in seed funding from investors including Change Ventures and Hyde Park Venture Partners to accelerate its expansion across international English-speaking markets. Its enterprise customer base spans multiple global industry sectors and features notable multinational corporations such as Meta, Bolt, and McDonald's. The company was founded in 2020 by Farokh Shahabi, Noosh Baratpour, Hasan Noori, and Amir Hashemi.
Formaloo has raised $2.2M across 2 funding rounds.
Formaloo has raised $2.2M in total across 2 funding rounds.
Formaloo has raised $2.2M across 2 funding rounds. Most recently, it raised $2.0M Seed in July 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 1, 2023 | $2M Seed | Change Ventures | Gener8tor, Hyde Park Venture Partners, Interplay Ventures, KRM Interests LLC, Andrius Slimas, Artis Kehris, Mana Ventures, Startup Wise Guys | Announced |
| Dec 1, 2020 | $180K Seed | — | Expert Dojo | Announced |
Formaloo has raised $2.2M in total across 2 funding rounds.
Formaloo's investors include Change Ventures, gener8tor, Hyde Park Venture Partners, Interplay Ventures, KRM Interests LLC, Andrius Slimas, Artis Kehris, Mana Ventures, Startup Wise Guys, Expert Dojo.
Formaloo is a no-code platform that enables businesses to build forms, surveys, quizzes, dashboards, CRMs, customer portals, and AI-powered apps without coding. It serves over 30,000 businesses, including Fortune 500 companies, startups, unicorns, and enterprises across sectors like SaaS, e-commerce, education, healthcare, and remote teams, solving problems in customer engagement, data collection, workflow automation, and product research by providing drag-and-drop tools, relational databases, AI analytics, and secure internal tools.[3][4][5] Key growth momentum includes daily use by 25,000+ businesses, enterprise features like self-hosted deployments compliant with GDPR and HIPAA, and advanced AI capabilities such as the Product Research Suite that automates market analysis previously costing tens of thousands and taking months.[1][2][3]
Formaloo emerged as a versatile no-code form builder, evolving into a comprehensive Work OS and AI-powered platform, though specific founding year and founders are not detailed in available sources. Its backstory highlights rapid iteration: starting with easy form creation "as simple as Canva for images," it expanded to include relational databases, custom apps, and AI integrations, gaining traction with 25,000+ daily users and Fortune 500 adoption.[3][5] Pivotal moments include the launch of Formaloo 3.0 as a "next-generation no-code workspace" with drag-and-drop building blocks, data analytics, and the AI Product Research Suite tailored for tech companies, enabling simulated user testing and competitor analysis.[1][5]
Formaloo rides the no-code/low-code revolution and AI democratization trends, enabling non-technical users to create enterprise-grade apps amid rising demand for agile digital workspaces post-remote work boom. Timing aligns with businesses seeking cost-effective alternatives to custom development, especially as AI tools like chatbots and analytics reduce research timelines from months to instant reports.[1][5] Market forces favoring it include no-code market growth (projected to hit billions), data privacy regulations driving self-hosted needs, and tech firms' push for embedded AI in products—Formaloo influences the ecosystem by empowering startups and unicorns to turn customers into virtual focus groups, accelerating innovation in SaaS, e-commerce, and beyond.[1][2][4]
Formaloo is poised to expand as the go-to no-code AI platform, potentially integrating deeper generative AI, multimodal data training, and industry-specific suites beyond tech. Trends like edge AI for self-hosted security and hyper-personalized customer tools will shape its path, evolving its influence from form builder to full business OS for global enterprises. This positions Formaloo to capture more of the exploding no-code market, building on its momentum with 30,000+ users to redefine accessible AI-driven operations.[3][5]