Digital consulting startup FORMM has raised $600,000 in pre-seed funding to help midsize companies ramp up their digital capabilities.
Digital strategist and former Accenture and EY Digital veteran Robert Kinkade co-founded FORMM (originally Chasm Digital) with serial entrepreneur and product engineer, Chris Clark, to help companies “shape their digital future” and build new ventures, digitally transform and accelerate e-commerce.
The pre-seed round was supported by individual investors with significant experience leading innovation and transformational change, who have also signed on in leadership, board and advisory roles, including former bank CEO Michael Pratt, who served as NSW Treasury secretary before retiring this year.
Kinkade, the company’s CEO, said FORM is about turning ideas into results by applying a proven roadmap, robust customer validation and advanced technologies to move from concept to prototype, minimum viable product and then build/measure/learn cycles in a more flexible, enjoyable and inclusive way .
“We are reimagining the delivery of consulting services to go beyond product solutions with a mission to help leaders build better businesses to survive and thrive in the digital age. Technology has advanced exponentially, changing the game for every organization on the planet,” he said.
“There is a huge amount of spending on traditional management consulting firms and digital agencies, estimated at $2 trillion a year, yet many leaders are at risk of being left behind. We wondered: why isn’t there a smarter way to democratize access to the tools and talent needed to help a wider part of the world thrive and make a positive impact through digital?”
Kinkade said one real use case for FORMM’s six-stage “idea to result” playbook is building their own app for their team and talent community called “platformM” within a week through a collaboration with low code, no code technology partner, Buzzy.
Its lightweight tools and elastic resource model enable FORMM to partner with startups, scaleups, and existing companies that need to digitize their operations, making the most of their time and money by delivering working products to generate revenue and get critical feedback from real customers much sooner.
Create momentum
Why a second M?
It stands for “Momentum,” explains Kinkade.
“Companies that say they are too small or have too little time to digitize will always be. We’re here to help change that, one partnership at a time,” he said.
FORMM’s leadership team includes CFO/COO Vargi Thillainathan, former CFO of Air Nuiguini and Chief Financial Officer of QANTAS; CPO Josh Rowe, the founder of Realas and head of product at Adore Beauty; and MD New Ventures, Jonny Harrison; and CMO Adriane McDermott, whose resume includes Greencross/Petbarn, Diageo, Seafolly, David Jones and Nike.
Other investors and advisors include David Mann, who recently retired from Accenture after a 22-year career, and Deakin University’s deputy CDO, Lynn Warneke.
Thillainathan said the The core team is powered by an on-demand talent community and extensive partner network that share access to a shared platform of tools, resources and knowledge.
“Our business model allows us to leverage specialized skills in an integrated way and deploy them exactly when they are needed,” he said.
“This way we can deliver more value by avoiding duplication, shortening backlogs and aligning resources with customer needs rather than the other way around.”
Michael Pratt, who assumed the role of chairman in July, said FORMM’s service model also includes consulting that infuses Silicon Valley thinking into high-growth new business strategies, including raising capital, securing R&D funding, and creating highly investable innovation.
“Digital transformation for midsize businesses remains a critical issue in Australia, where many organizations need affordable and simplified solutions,” he said.
“FORMM’s service offering will appeal not only to businesses, but also to the government sector, where building better customer experiences and service models is a top priority for Australia.”
Co-founder Chris Clark said FORMM actively recruits other full-time team members from traditional consultancies and firms, as well as directly from industry and start-ups.
Core capabilities include strategy and enterprise architecture, design and experience, product and engineering, and business readiness and delivery.
“FORMM appeals to leaders who want to outperform the competition through innovation. They don’t want to manage multiple overlapping service providers with vague lines of responsibility and contractual latency,” he said.
“We love a challenge and work with our customers as if their company is one of our own.”
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