Startup Upflowy Secures $4 Million From Investors

By James White | Saturday, 26 February 2022 | Startup, Tech

Startup company Upflowy allows business owners to build and customize web experiences quickly using no-code controls. The website optimization startup recently secured $4 million in new seed funding to help the business expand its platform’s capabilities.

Support From Investors Old and New

The latest funding round for the startup company was led by San Francisco venture capital (VC) fund Counterpart Ventures. The venture capital fund targets investments in business-to-business (B2B) software-as-a-service (SaaS), mobility, and marketplace technologies, regardless of funding stage. Other companies in the fund’s portfolio include customer retention platform Annex Cloud, hotel management software Cloudbeds, and more.

“Modern organizations need simple, no-code solutions that remove the friction between data collection and customer experience,” said Patrick Eggen, co-founder and General Partner at Counterpart Ventures. “The market is full of clunky solutions that rely on engineers to create web experiences… Upflowy is in the unique position to re-envision this market, enabling teams to create the web experiences that consumers need and demand.”

During the round, the startup company also found support from returning pre-seed investors Tidal, Global Founders Capital, Black Nova, and Antler. Funds generated from the latest round for the website optimization business brings the startup’s total funding amount to more than $5 million.

Proceeds from the seed round will help the Sydney-based startup company expand its operations to the US. Additionally, the website optimization business has plans to grow its team’s numbers by appropriately 250%. A significant portion of the funding raised during the round will be allocated to product development as the startup business seeks to bring new features to its SaaS platform.

Building Onboarding Flows

Co-founded in 2020 by entrepreneurs Guillaume Ang, Alex Girard, and Matthew Browne, Upflowy gives business owners the ability to create custom onboarding flows for websites without the need for coding skills or a third-party developer. A “flow” refers to the online form used to collect information from new users who seek to sign up for an account or service.

Upflowy’s platform features a drag-and-drop interface where users can create signup flows, surveys, contact forms, and other website experiences. Flows can be personalized and branded to fit the style of the user’s existing website without using any coding techniques.

According to the website optimization startup, flows can either be embedded into an existing website or run off of a URL hosted on Upflowy servers. The platform also sports a library of integrations with other platforms like Google Contacts, Mailchimp, and Slack.

Furthermore, the Upflowy platform enables users to conduct A/B testing to determine the best combination of steps in a flow. The startup provides detailed performance statistics for each step in a flow to help users create the optimal logic path for conversion.

Upflowy generates revenue through its SaaS model by offering several tiered pricing plans with additional features and permissions.

Competition in the Online Form Building Industry

Market research suggests that the global online form-building market will reach more than $26 billion by 2026. The industry is expected to register a CAGR of nearly 18% over the forecast period.

Upflowy will have to compete alongside a number of platforms offering similar services in the growing market, such as Chicago-based marketing automation company ActiveCampaign. Since its founding in 2003, ActiveCampaign has secured roughly $360 million from investors.

About the Author

James White

James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.