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SurveyMonkey Enterprise Sales Drive 20% Growth

November 5 2020

DIY survey pioneer SurveyMonkey has reported third quarter financial results for the period ended September 30th, with total revenue up 20% to $95.4m.

Zander LurieThere was growth in each area of the firm's solutions. Enterprise sales were up sharpest (53%) to $27.4m, and are now 29% of the company's total (from 23% in Q3 last year), while the number of Enterprise customers grew 25% to 7,700. Self-serve revenue was up 11% to $68.0m, while there were c.803,000 paying users, up 13% on the year - with 87% of these on annual plans, up from 82% a year earlier. Mean revenue per user also rose, by 7% to $478. Despite this the company still made a GAAP net loss of $26.1m.

CEO Zander Lurie (pictured) says of the results: 'With 20% year-over-year revenue growth, nearly 450 sequential new enterprise customers, and more than $16 million in free cash flow, SurveyMonkey posted another strong quarter in Q3. We continued our move up-market as organizations like Calendly, Calm, Gainsight, GAF Materials, McDonald's Japan, NerdWallet, and Trustmark chose our powerful, agile software to turn feedback into action. Our launch of the GetFeedback platform positions us to be a force in customer experience, a market that is hungry for a cost-efficient solution as organizations increasingly prioritize customer feedback on their digital transformation journey'.

Web site: www.surveymonkey.com .

All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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