Formstack (Intellistack): Business Overview, Financials & Competitive Analysis
Formstack (Intellistack) scores 6/10 on the AskCyborg Cyborg Score (Solid). Established no-code workflow automation platform with strong customer base and unicorn valuation, but execution headwinds and leadership scrutiny warrant cautious outlook. The company achieved unicorn status with $425M in Series D funding (November 2021). However, in May 2023 Formstack laid off over 100 employees—eliminating over 40% of its workforce—approximately 18.
What is Formstack (Intellistack)'s industry? Formstack (Intellistack) (formstack.com) operates in Enterprise Software. AskCyborg classifies Formstack (Intellistack) under Enterprise Software in its company registry.
Formstack is trusted by over 25,000 organizations worldwide—including Netflix, Twitter, and Butler University—to digitize workflows and automate processes. The company operates as a cloud-based workflow automation sof...
Cyborg Score thesis
Established no-code workflow automation platform with strong customer base and unicorn valuation, but execution headwinds and...
Read the full analyst-debate transcript →Get the Latest Formstack (Intellistack) Report
Up-to-date AI-powered research, analyst debate audio & saved-company playlists
Get Current Report FreeFormstack (Intellistack) Overview
Pro stress-test →Formstack is trusted by over 25,000 organizations worldwide—including Netflix, Twitter, and Butler University—to digitize workflows and automate processes. The company operates as a cloud-based workflow automation software platform for enterprises, enabling organizations to create digital workflows without programming skills, collecting data with online forms, generating digital documents, and gathering electronic signatures.
Strategic Profile
Pro stress-test →Formstack reached unicorn status in November 2021 with a $425 million Series D round led by PSG and Silversmith Capital Partners, valuing the business at approximately $1 billion. On June 25, 2025 the company was officially rebranded as Intellistack to emphasize intelligent automation capabilities. The company concentrates on the small-to-mid-market segment while serving select enterprise accounts and targets regulated industries requiring compliance controls including healthcare, financial services, education, and non-profits.
Competitive Landscape
Pro stress-test →Top competitors include Automattic, Box, and Kaltura. Other direct competitors include Formsite, PerfectApps, SiteDocs, Paperform, and Gainsight. Formstack positions itself in the mid-market no-code workflow automation space, competing against both specialized form builders and broader enterprise workflow platforms.
Industry Context
Formstack (Intellistack) operates in Enterprise Software.
Key facts
Founded: 2006 · Headquarters: Fishers, IN / Colorado Springs, CO · Employees: 231-235