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Formstack (Intellistack): Business Overview, Financials & Competitive Analysis

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...

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AskCyborg analysts argue the bull and bear cases for Formstack (Intellistack) across 11 stress-tested dimensions. Listen on your commute -- faster than reading the 30-page report.

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6/ 10Solid

Cyborg Score thesis

Established no-code workflow automation platform with strong customer base and unicorn valuation, but execution headwinds and...

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Industry Enterprise Software
5 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: September 28, 2026
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Formstack (Intellistack) Overview

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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

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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

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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

What the analysts stress-tested

The top findings that survived the multi-agent debate for Formstack (Intellistack).

  • Rebranded to Intellistack in June 2025 to reflect intelligent automation capabilities and product evolution
  • Company has made 6 acquisitions to expand platform capabilities and market reach
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Recent developments

Material events tracked by the AskCyborg corpus.

  • June 2025Rebranded from Formstack to Intellistack and launched Intellistack Streamline, a no-code AI-driven process automation platform
  • May 2023Conducted significant workforce reduction, eliminating over 40% of employees (100+ staff)
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

BoxCloud content management and workflow platform→AutomatticOpen-source and hosted website building and automation→KalturaVideo management and workflow automation platform→PandaDocDocument generation and eSignature automation→ZapierNo-code workflow automation and integration platform→

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Industry context

Formstack (Intellistack) operates in Enterprise Software. See how the rest of the sector scores on the Cyborg framework.

Top companies in Enterprise Software by Cyborg Score

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Frequently asked questions

What does Formstack (Intellistack) do?+
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...
What is Formstack (Intellistack)'s Cyborg Score?+
Formstack (Intellistack) has a Cyborg Score of 6/10 (Solid). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Formstack (Intellistack)'s main competitors?+
Named competitors include Box, Automattic, Kaltura, PandaDoc. The full competitive landscape is in the AskCyborg report.
How can I get the full Formstack (Intellistack) research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Formstack (Intellistack) research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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More Enterprise Software research

Companies in the same sector and named competitors, ranked by Cyborg Score.

8CSG Systems International, Inc.8HubSpot8Planisware SAS8Tyler Technologies, Inc.8Workday, Inc.7Asseco Business Solutions S.A.7Asseco South Eastern Europe S.A.7Cybozu, Inc.7Jamf Holding Corp7JFrog Ltd.7Box, Inc.5Kaltura, Inc.Top companies in Enterprise Software by Cyborg Score