infoTECH Feature

September 29, 2014

Wheelings & Dealings: New Round of Funding Bring Qualtrics' Total to $220 Million to Date

Individuals as well as public and private organizations are creating more data than any other time in history. The ubiquity of smart mobile devices, broadband Internet and cloud services is allowing everyone that uses these technologies to create more content. With so much data available for analysis, it was only a matter of time until companies started being established with the goal of providing actionable insight on this information so it can be used to improve operations, deliver efficiency and increase productivity. Qualtrics, a fast growing software-as-a-service (SaaS (News - Alert)) company providing insight, has announced it has closed a $150 million Series B financing round.

The new round of funding will be used to continue product innovation and international expansion as more organizations around the world look for fast and actionable insights to drive their business. The $150 million round of investment was led by a new participant Insight Venture Partners as well as original investors Accel Partners (News - Alert) and Sequoia Capital. This round brings the total funding the company has received to $220 million, increasing the company's valuation to more than $1 billion.

Established more than 12 years ago Qualtrics has a customer base of 6,000 enterprises worldwide, which includes half of the Fortune 100 and 99 of the top 100 business schools. The technology the company provides simplifies the process of capturing insights in one place, allowing public and private organizations to make informed and data-driven business decisions.

Qualtrics is used to collect, analyze and act on a wide range of data points including voice of the customer, employee engagement, customer satisfaction, brand, market, product and employee feedback by eliminating data silos and creating a single reliable platform.

"Every organization in the world needs Qualtrics. Today, customers and employees feel entitled to say what they think, and they'll say it whether you're listening or not," said Ryan Smith, CEO of Qualtrics. "That's why the Qualtrics platform is so powerful. It allows organizations to capture and act on real-time insights to make data-driven decisions to grow their business."

The company is experiencing hyper-growth while delivering profitability, and currently it has over1.9 million global enterprise seats hosting more than 2.1 million active surveys that will capture critical customer, employee, and market insights. This type of performance has allowed Qualtrics to achieve a compounded annual revenue growth rate (CAGR) of over 90 percent during the last 5 years, while maintaining profitability.

The global demand for companies that make big data actionable by delivering fast insights is increasing as businesses try to make sense of the massive amount of information being created every day. With a customer base of global enterprises, academic institutions and government agencies, Qualtrics has become the go to source for delivering the insights organizations are looking for.




Edited by Maurice Nagle
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