ForMotiv provides real-time predictive intelligence on customer intent by capturing digital behavioral data as users engage with applications and forms, without using personally identifiable information. Its proprietary software analyzes hundreds of behavioral data points (digital body language) to generate real-time intent scores that enable enterprises to add or remove friction during the application process. Customers include State Auto (recently acquired by Liberty Mutual), iPipeline, Unqork, HealthGorilla, and FTI Consulting, and the company has analyzed more than 300 million applications since launch. Led by CEO Bill Conners and based in Philadelphia, ForMotiv works primarily with insurance carriers and financial institutions. The company experienced 500% ARR growth in 2021, 638% compound ARR from 2019–2021, tripled its customer base, and doubled headcount. ForMotiv intends to use the new funding to hire senior roles across technology, product, and sales to support continued growth. ForMotiv offers an AI- and machine learning–driven digital behavior intelligence platform that analyzes user interactions to surface risky behavior for customers in financial services and insurance. The five-year-old B2B startup says demand for behavioral data surged amid COVID-19–driven digital transformation. The company plans to use its recent funding primarily to hire more employees to keep up with 2020’s rapid growth. In 2021 ForMotiv expects to analyze hundreds of millions of digital applications, which can range from one to more than 55 screens, increasing the volume of data it collects and processes. The business previously raised $650,000 in 2018 and is positioning to scale operations to meet growing customer demand.

Total raised

$7M

Funding rounds

2

Latest round

Seed

Latest activity

Sep 2021