Who We Are:
At Formic, we’re on a mission to revolutionize American manufacturing and create more abundance in the world. We believe in continuing the American legacy of innovation by making automation accessible to all manufacturers and increasing their factory productivity by 10x.
Built upon deep expertise in robotics and manufacturing, our unique Pay-for-Productivity robotics solutions combine the best automation technology, tools, and uptime services for manufacturers, paving the way for a new era of supercharged efficiency and competitiveness.
As the world faces growing pressure from rising costs and labor shortages, Formic is a uniquely powerful tool in overcoming these challenges. Fueled by our vision for a resurged “Made in America,” we’re growing fast - achieving 70% quarterly growth in customer count and ARR, with ~30% of our customers having already deployed multiple systems.
Supporting us in our mission, with investments thus far totaling over $60 million, are backers including Blackhorn Ventures, Mitsubishi HC Capital America, NEC, Lorimer Ventures, Translink Capital, Alumni Ventures, FJ Labs, Lux Capital, Initialized Capital and founders of multiple Fortune 50 companies.
Who we are:
At Formic, we’re on a mission to revolutionize American manufacturing and create more abundance in the world. We believe in continuing the American legacy of innovation by making automation accessible to all manufacturers and increasing their factory productivity by 10x.
Built upon deep expertise in robotics and manufacturing, our unique Pay-for-Productivity robotics solutions combine the best automation technology, tools, and uptime services for manufacturers, paving the way for a new era of supercharged efficiency and competitiveness.
As the world faces growing pressure from rising costs and labor shortages, Formic is a uniquely powerful tool in overcoming these challenges. Fueled by our vision for a resurged “Made in America,” we’re growing fast - achieving 70% quarterly growth in customer count and ARR, with ~30% of our customers having already deployed multiple systems.
Supporting us in our mission, with investments thus far totaling over $60 million, are backers including Blackhorn Ventures, Mitsubishi HC Capital America, NEC, Translink Capital,
Alumni Ventures, FJ Labs, Lux Capital, Initialized Capital and Lorimer Ventures, and founders of multiple Fortune 50 companies.
About the Finance team:
Formic provides robotics-as-a-service (RaaS) and the Finance & Legal team is a key part of providing the “as-a-service” part of RaaS. The Finance & Legal team is part of the foundational infrastructure of RaaS–think the wiring, plumbing or framing of a house that is not seen, but is a critical part of making the house stand, last and function properly. The Finance & Legal team is responsible for financial operations; treasury and finance; accounting; credit; legal; compliance; and customer contracting and financial servicing.
As Staff Accountant, you will:
- Perform full-cycle Accounts Payable: Manage AP and maintain records of vendor relations and statuses. This will include managing ProcureDesk (our purchase order platform) and initiating vendor payments
- Code transactions and payables by account, project, etc.
- Manage credit card receipt coding, tracking down missing expense information, data hygiene, and miscellaneous credit card reporting as needed
- Be actively involved in, and own portions of, the month-end close process, including reconciliation schedules and account reconciliations in Xero
- Partner with Supply Chain Manager to ensure inventory items (parts and assets) are appropriately recorded, logged, etc. Collaborate on process improvements and operational excellence
- Complete quarterly inventory counts
- Have active involvement in maintenance cost reporting and tracking; participate in continuous process improvement
- Oversee supplier and vendor setup within various platforms
- Manage forms requested by third parties and customers (e.g., credit applications, vendor references, vendor questionnaires)
- File and save / organize credit approvals to allow for timely funding draws
- Miscellaneous other duties as requested
What makes you a great fit:
- Bachelor’s degree in Accounting preferred
- At least 3+ years of relevant Accounting experience, including experience in full-cycle Accounts Payable
- Advanced knowledge of Excel, Google Sheets, and accounting GL systems
- Excellent knowledge of GAAP
- Excellent communication and organizational skills, both written and verbal
- Ability to be flexible and comfortable with changing environments
- Possess exceptional organization, prioritization, and communication skills
- Ability to work independently with limited oversight
- Willingness to roll up sleeves and learn new systems and processes
- Ability to work at least 3 days/week and as needed in our Woodridge, IL office
#LI-MB1
Total Rewards:
Total rewards packages at Formic consist of salaries benchmarked against similar stage growth companies, insurance (medical, dental, vision, life, STD, LTD), and equity in Formic itself. As an early stage startup, equity is an important part of our investment in you, and your investment in Formic. When Formic succeeds, we all succeed.
Final offer amounts are custom-crafted, based on the cash/equity ratio preference of the candidate, as well as their experience, geographical location and cost of labor, and more, and may vary from the range listed below. Ultimately we’re seeking top performers who will make a difference to our business, and we’re open to negotiating the compensation structure for the right candidate. The expected base pay range for this position is below.
Base Salary Range:
$70,000—$105,000 USD
What we look for:
We’re building a company from the ground up, so every single person we hire has a massive impact on our team, culture, and ability to accomplish our mission. While each individual brings their own unique skills and perspectives to Formic, we look for people who share our vision and act in alignment with our Operating Principles. If this sounds like you, Formic could be the place for you:
- Fearless Optimism: You share our ambitious vision of what we can accomplish. You’re aware of the challenges we will face as a startup doing new things in an old space, but you’re energized by the incredible opportunity we have to drive change for our customers, and for the manufacturing industry at large.
- Factories First: You have a strong customer focus, no matter who your customer is. You seek to make things easier and better for our customers, even if it makes your job a little harder.
- Today, Not Tomorrow: There are always plenty of projects to tackle in a startup, but you prioritize, take accountability for work, and have a bias toward action.
- Be Right Often: You don’t do things just because that’s how they’ve always been done. You keep looking for ways to improve, seek out feedback along the way, and back your decisions up with data.
- Made of Rubber: Just like rubber, when you fall you bounce back up. You know there’s going to be a lot of challenge and change in our work ahead but you are adaptable, resilient, and ready to thrive through it all.
- Good Baton Passes: You work with a desire to make things easier and better for your team members. You use empathy to understand the needs and goals of others and support each other so Formic can be successful together.
What We Offer:
Formic believes we do our best work when we are equipped to take care of ourselves and our loved ones. To support this Formic offers comprehensive benefits and perks for full-time US-based employees, including:
- Equity in Formic: your slice of ownership in a fast-growing Series A startup, backed by some of the best investors in the world
- 99% coverage on our base Medical, Dental, and Vision insurance plans (75% coverage for dependents) via Blue Cross Blue Shield and Guardian, with buy-up options, as well
- FSA & DCFSA
- Life insurance, Short-Term Disability, and Long-term Disability plans (covered at 100%) via Guardian
- Employee Assistance Program
- Paid parental leave
- Company-sponsored 401k
- Home Office Stipend for remote and hybrid roles
- Monthly Phone/Internet Reimbursement
- Flexible time off policy and 10+ company holidays
- Opportunity to join a talented and diverse team united behind our mission to revolutionize American manufacturing
As our team grows, our benefit and perk offerings for employees based outside of the United States will vary. We are happy to discuss these options with you as part of our recruiting and interviewing process. Temporary or contract positions are not eligible for Formic employee benefits and perks, except where legally required.
Formic is an equal opportunity employer. We do not discriminate on the basis of race, color, religion or religious creed, sexual orientation, gender, gender identity, marital status, family or parental status, disability, military or veteran status, or any other basis protected by law. All employment decisions are based on a person’s merit, business needs, and role requirements. If you require further accommodations or have questions regarding accessibility of our roles, please reach out to [email protected].
What We Do
Formic is focused on unlocking robotic automation in small to mid-sized American manufacturers. Our innovative “Robotics-as-a-Service” model combines financial innovation with a firm understanding of robotics to enable manufacturing customers to deploy and scale automation quickly and with minimal risk.
Our mission is to make “building things” trivial and easy. Every factory should have access to unlimited “labor” through automation without the traditional barriers to entry.
