Full-Time

Account Executive

Confirmed live in the last 24 hours

Formic

Formic

51-200 employees

Factory automation solutions with pay-as-you-go model

Robotics & Automation
Industrial & Manufacturing

Compensation Overview

$80k - $135kAnnually

+ Commission Plan

Senior

Chicago, IL, USA

Ability to travel up to 75% within the midwestern US territory, including occasional overnight trips.

Category
Inside Sales
Sales & Account Management
Required Skills
Salesforce
Data Analysis
Requirements
  • Proven track record of success in B2B sales
  • 5+ years of B2B sales experience in technology or SaaS, with a preference for robotics, manufacturing or industrial automation
  • Ability to travel up to 75% within the midwestern US territory, including occasional overnight trips
  • Customer-centric approach with a focus on building long-term relationships and providing outstanding customer experiences
  • Proven success hunting and building a territory, including building a territory plan, generating leads, and leading site visits
  • Analytical mindset with the ability to leverage data and market insights to drive informed decision-making
  • Hunger to learn and grow in a fast-paced startup
  • Proficiency in Salesforce and G-suite
  • Experience thriving in a sales process-driven environment
  • Comfort with ambiguity; a proactive and assertive nature is required
  • Dedication to upholding process while staying resilient and keeping a team player attitude
  • Impeccable follow-up and follow through
  • Excellent verbal and written communication skills
Responsibilities
  • Own business development for our Robotics-as-a-Service solutions, penetrating primarily SMB accounts in food and beverage, pharma, consumer packaged goods (CPG), warehousing, and related industries
  • Inspire integrators, value-add distributors, machine builders, and end-users to learn more about - and ultimately benefit from buying - Formic’s RaaS offering
  • Evaluate customer requirements for automation projects, work with the engineering team to develop concepts, and follow up with quotes
  • Generate new business, qualify potential projects, attentively follow up with leads, lead site visits for new project discovery, and present proposals to customers to fulfill their business needs
  • Collaborate with the Marketing and Sales Development team members to create targeted account outreach
  • Represent Formic at trade shows and other industry events, strategically
  • Lead both internal and external resources during the pitch process
  • Maintain data integrity, document all pieces of pertinent information in Salesforce, and over-communicate with stakeholders and peers for the tightest and collaborative of sales successful processes
  • Understand the local manufacturing customer base and market, as well as competitor offerings, customers and decision influencers across the region, and stay updated on automation market trends

Formic makes factory automation accessible and affordable for businesses by offering flexible automation solutions without requiring significant upfront capital. Clients pay a low hourly rate for the use of automation systems, while Formic handles deployment, monitoring, and maintenance, reducing financial risk. The company customizes its solutions to meet specific client needs and provides 24/7 support, ensuring high reliability with a 99% uptime. Formic's goal is to simplify the automation process, helping businesses improve efficiency and lower labor costs.

Company Stage

Seed

Total Funding

$57.5M

Headquarters

Chicago, Illinois

Founded

2020

Growth & Insights
Headcount

6 month growth

21%

1 year growth

-11%

2 year growth

1%
Simplify Jobs

Simplify's Take

What believers are saying

  • The recent $27.4 million Series A funding round provides substantial capital for expansion and innovation.
  • Formic's historical uptime of 99% and 100,000 production hours demonstrate the reliability and efficiency of their solutions.
  • The company's new software tools simplify robot deployment and operation, making it easier for clients to adopt and scale automation.

What critics are saying

  • The industrial automation market is highly competitive, with numerous established players that could challenge Formic's market share.
  • Dependence on external funding and partnerships may pose risks if these relationships change or dissolve.

What makes Formic unique

  • Formic's pay-as-you-go model eliminates the need for significant upfront capital expenditure, making automation accessible to businesses of all sizes.
  • The company offers tailored automation solutions and 24/7 monitoring, ensuring high reliability and uptime, which is a significant advantage over competitors.
  • Formic's strategic partnerships with major investors and companies like Mitsubishi HC Capital America and NEC enhance its financial stability and market reach.

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Benefits

99% coverage for Medical, dental, & vision insurance plans (75% coverage for dependents)

Life insurance, Short Term Disability, & Long Term Disability plans

Employee Assistance Program

Paid parental leave

Equity

Company-sponsored 401k

$2,000 Home office allowance

Monthly phone & internet reimbursement

Flexible time off policy and 10+ company holidays

Bi-annual all-company retreats