US-based survey technology firm Qualtrics has raised $180m in a Series C round of funding, valuing the business at $2.5 billion.
Qualtrics, which was founded by father and sons Scott, Ryan and Jared Smith and family friend Stuart Orgill in 2002, has US offices in Utah, Seattle, Washington DC and Dallas; as well as operations in Sydney and Canberra in Australia; and in Dublin and London. The firm has recently launched the XM Platform, which manages the 'four core experiences of business' - customer, employee, product and brand experience - in one single platform; and automatically analyzes them, promising to help organizations uncover business drivers, predict future customer needs, and retain employees and customers.
The latest funding round was led by existing investors Insight Venture Partners and Accel, with participation from Sequoia Capital, and brings the total raised to date to $400m. The funds will be used for a range of purposes, including for potential acquisitions and cash for early employees, as well as to scale the business as it prepares to go public.
Commenting on the news, CEO Ryan Smith (pictured) said: 'I could not be more proud of the team we have put together. This raise is a great step forward for everyone involved. Our investors doubling down is a huge sign of their confidence in the team and the amazing growth ahead of us with experience management'.
Web site: www.qualtrics.com .