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FORM: The Smart Goggles Bet on a $22M Niche
Can a hardware startup disrupt the $6B swimming market with AI-powered goggles?
In a market dominated by watches and chest straps, FORM is betting that the future of swimming metrics is literally right in front of your eyes. With $368.8M in funding and a focus on immersive AR feedback, they're not just tracking laps—they're trying to redefine how swimmers train.
"FORM isn't selling goggles; they're selling a heads-up display for the pool. The question is whether swimmers will pay a premium for real-time data that used to require stopping at the wall."
The User Experience Problem
FORM's core innovation is removing friction. Traditional swim tracking requires post-session analysis or awkward glances at a watch. The FORM goggles display pace, distance, and heart rate directly in your field of vision. Yet with only 104K monthly visits and a concerning 2.1/5 Trustpilot rating, adoption faces significant headwinds. The user base appears split between elite athletes and frustrated early adopters dealing with hardware/software integration issues.
The Funding vs. Revenue Gap
Here's the provocative math: FORM has raised $368.8M but generates only $22.3M in revenue. That's a 16.5x revenue-to-funding ratio that signals either massive R&D investment or a struggling go-to-market strategy. With 91 employees, their burn rate suggests they're betting big on future growth rather than current profitability. The 45% organic search traffic indicates brand recognition, but the 41% direct traffic suggests a loyal core user base that isn't expanding rapidly enough.
The tech stack reveals a modern approach—Vite, Tailwind CSS, and PWA capabilities show they're building for the web-first generation of swimmers. However, the undefined traffic geographies (37% from 'undefined') suggest either tracking issues or a fragmented international strategy. Their top keywords like 'form swim goggles' (800 monthly searches) show strong brand recall, but the long-tail term 'triatlon pode usar roupa flutuadora' (290 searches) indicates they're capturing niche triathlete queries that may not convert.
- Hardware-Software Integration: The goggles work with a proprietary app, creating a closed ecosystem that's both a strength and a limitation
- Elite Coaching Science: Brian Johns (Head Coaching Science) brings credibility, but the 2.1 rating suggests execution gaps
- Market Timing: Post-pandemic fitness tech consolidation makes hardware bets riskier, yet FORM secured massive funding in 2022
- Competition: Garmin, Apple Watch, and Whoop dominate swim tracking; FORM's AR display is their only moat
The Verdict: High-Stakes Hardware Play
FORM has the tech and funding to win, but customer satisfaction and growth metrics suggest they're still swimming upstream against market adoption challenges.
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FORM Smart Swim Goggles and Swim App
Swimmers at any skill level can be guided and motivated through an immersive swimming experience with the FORM Smart Swim Goggles and our Swim App.
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Reviews (14)
Superb, swim data swim!
I’ve had my form swim goggles for 5 months now, and have been really impressed with them. I am a bit of a data junkie, so having data in my eyes all the time while swimming is a major motivator for me. I usually go for larger goggles so they don’t make my eyeballs feel like they’re being sucked out, so I was a little concerned over this design… however, worry not.. no eyeballs being sucked out here! They work perfectly, battery lasts really well and they are very comfortable.
From 25m to 1500m
I have them for over a year now. They helped me improve my swimming from a floater to a swimmer. They help a lot by having the pass uploaded in the glasses. Their live instructions also help. After some time the strap got broke but I got a replacement quite fast. Another great thing is that they constantly added features to the glasses: adaptive training programmes, open water guidance, etc. The only thing that I can complain with is their membership program which is quite expensive compared for example with holoswim.
Beware the Subscription Renewal Policies
I’ve really enjoyed my FORM goggles, but the subscription experience has been disappointing. My annual Premium plan renewed with no prior notification and didn’t appear in my Apple subscriptions, so I had no way of knowing the charge was coming. I canceled on the renewal day before using any services, but FORM refused to issue a refund. Great product, but the billing practices and customer service left a bad impression. Hoping they improve this, because the endurance community pays attention to how companies treat their athletes.
Similar to other reviews on here
Similar to other reviews on here, I had an annual renewal completed with out warning. When contacted they proceeded to give me a legal review of their terms and conditions rather than work with me, saying a lot about their customer service.
Form goggles forces you to sign up for your data and money
Form goggles forces you to sign up for a free month of their "premium" service. They simply do not work without an app that sends the information of your swims to them for sale. If you complain, they reply this: The FORM App is needed to set up and use the goggles. With the app, you select what metrics you want to see while swimming, or if you have a Premium subscription, you can manage your guided workouts and plans. With the FORM App you can also review your swim analysis once your swims have been synced. I'm sorry this wasn't clear to you when you purchased the goggles. You can find information about the FORM App and your account on the FORM App in our Terms of Service. 11. Accounts/Credentials: (a) General: To access and use FORM Services you must sign up for an Account. At the time you sign up for an Account you must provide a valid user name and password or other sign-on method (such as your Facebook, Google or Apple account) that complies with FORM’s technical requirements (collectively “Credentials”. and 16. Accurate Information: To register with FORM Services, create an Account or use certain aspects of FORM Services, you are required to provide certain information about yourself (including your first and last name, email address, birthdate, gender, weight and height and other contact information) and certain authorizations or instructions.
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About formswim.com
Swimmers at any skill level can be guided and motivated through an immersive swimming experience with the FORM Smart Swim Goggles and our Swim App.
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formswim.com uses 28 technologies across their website including Wistia, Adobe Fonts, Google Fonts, hCaptcha, HSTS, and more.
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Wistia
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Adobe Fonts, Google Fonts
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hCaptcha, HSTS, reCAPTCHA
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Sentry
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Cloudflare
Email Marketing
Klaviyo
Traffic & Audience
formswim.com receives approximately 105.0K monthly visitors and ranks #340,073 globally. The website has a bounce rate of 39% with visitors viewing an average of 2.6 pages per visit. Users spend an average of 0:37 on the site.
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