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Formotus to launch mobile software at CTIA |
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Formotus is an angel-backed mobile software startup that has developed a new way for on-the-go workers -- tax assessors, real estate agents and utility meter readers -- to access forms and documents on portable devices.
The startup was founded in 2005 by Joe Verschueren -- a wireless veteran who, before creating ImageX, worked at US West-- and Adriana Neagu -- who, during her 10 years at Microsoft, helped develop the InfoPath technology.
The 25-person company, with contract developers in India and Romania, is unveiling its first product today, called FormoPublish, at the CTIA Wireless conference in Orlando, Fla.
Verschueren says Formotus is utilizing Microsoft's InfoPath electronic forms technology to create "the absolute fastest, easiest, most affordable way that you can deploy data to a wireless device."
Plenty of competition exists, with a number of companies trying to integrate information from the headquarters with people in the field. (And vice versa). Best known in the Seattle area is Dexterra, which just scored $36 million in venture financing from New Enterprise Associates, Intel Capital, Motorola and others.
While there are dozens of mobile software tool companies like Dexterra, Vettro and Sendia, Verschueren said no one has created a Web service that allows companies to create forms through InfoPath and then have them deployed over-the-air to wireless devices. It plans to charge $35 for each device per month, which Verschueren said is much cheaper than competing products.
One of the company's test customers is a Midwest real estate company that uses the technology to review potential repairs in apartment buildings.
"They were doing it on a piece of paper. Now, they walk in with a simple pocket PC and a stylus, with all drop-down buttons. There is no typing," said Verschueren. "Once all the data is collected, they press submit and over the air all of that data is transmitted back to the data store in the back office and now someone in the back office can pull that up and start working with it right away."
Verschueren said a technical administrator could manage the Formotus system, choosing which phones should receive specific forms.
At this time, Formotus is angel-backed with plans to raise a "significant round of financing" later this year. Verschueren said the company is well capitalized, with investors such as former venture capitalist Elwood Howse, Oracle engineer Roger Bamford and Microsoft senior researcher Gordon Bell supporting the company. He declined to say how much the company has raised to date.
Even though Dexterra just scored $36 million, Verschueren doesn't view that as a big threat.
"We label them competition because in one sense they are, but in another sense they are potential customers of ours," he said. "Because what we are providing is the easiest way to get the 'last mile' done and to the degree that they have become systems integrators, we can work with them. We think that all of the tools companies are potential users of our technology."
Submitted Date: Mar 28, 2007
Source: Seattle Post Intelligencer
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