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Award winning Formisimo launches new product and expands team following investment

Fund: Digital Creative

Online analytics company, Formisimo, is going from strength-to-strength...

Since its launch in 2013 the company has set up its head office at MediaCityUK, recruited skilled staff, secured thousands of global customers, launched a new product, won numerous prestigious awards and raised almost a million pounds of investment.  

Founded by digital entrepreneurs Al Mackin and Tom New, the company is improving online sales for thousands of companies across the world, including brand names like, Secret Escapes, Virgin Active, Uber, QVC and Toyota.

Formisimo measures and analyses consumer behaviour in online checkouts and online forms, showing companies how they can make small adjustments that drive big increases in revenue.

As a new start-up, Formisimo secured a £350,000 investment from a syndicate led by The North West Fund in 2014. The company has since received further finance including; follow-on funding of £450,000 and, more recently, over £160,000 from Publicis90.

The finance, together with mentorship, advice and guidance from fund managers, angels and leading accelerator, Seedcamp, is allowing the founders to grow their MediaCity team further as the company concentrates on expanding and enhancing its technology.

In 2015 the company was selected as one of the Tech North Northern Stars, having previously been awarded 'best digital tool/software' at the Northern Digital Awards and won the top prize at Venturefest's innovation showcase competition.

Earlier this year Formisimo launched its new product, Nudgr. This new tool works alongside the company's existing technology and uses machine learning to optimise website conversions. Formisimo provides an analytics solution, Nudgr is a complimentary solution that uses machine learning to engage customers in real-time before they abandon the form.   

Al Mackin, co-founder of Formisimo, said, "We are really pleased with what we have been able to achieve in such a short space of time. Securing investment has allowed us to recruit highly skilled staff quickly and, in a fast-paced industry like ours, this is imperative.

"As part of launching our new tool we have recruited a machine learning expert, bringing world class knowledge, innovation and expertise to the North West. Without investment this would not have been possible."

 

 

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