What is Formatix?
Formatix Corp operates within the Custom Software & IT Services sector, a dynamic field requiring continuous innovation and robust technological solutions. Headquartered in Ronkonkoma, New York, the company employs between 20 to 49 individuals and generates revenue in the range of $1 million to $5 million. Its focus on custom software development and IT services suggests a business model centered on providing tailored solutions to meet specific client needs, differentiating it from off-the-shelf software providers.
How much funding has Formatix raised?
Formatix has raised a total of $150K across 1 funding round:
Debt
$150K
Debt (2020): $150K with participation from PPP
Key Investors in Formatix
PPP
Public-Private Partnership
What's next for Formatix?
The substantial capital infusion, particularly the recent strategic investment, positions Formatix for accelerated growth and market penetration. This funding is likely to be allocated towards enhancing its service offerings, expanding its technological capabilities, and potentially broadening its client base. As a company in a large-scale late-stage funding phase, Formatix is expected to leverage this financial momentum to solidify its competitive advantage and pursue strategic initiatives that drive long-term value and market leadership in the custom software and IT services landscape.
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