Qualtrics Gets Half Billion Investment from Accel

Experience management platform Qualtrics has received a $500m investment from venture capital firm Accel.

The firm was recently acquired for $12.5bn by Silver Lake and Canada Pension Plan Investment Board (CPP Investments). The deal gives the investors 100% of Qualtrics, including all the shares of current majority owner SAP.

Qualtrics was bootstrapped until 2012, when Accel led the first outside investment: it then led subsequent rounds of funding in 2014 and 2017 to fuel expansion. With an IPO planned in 2019 the majority of the company was acquired by SAP, ultimately going public in 2021.

Commenting on the latest investment, Qualtrics founder and Executive Chairman Ryan Smith comments: 'As an entrepreneur, it's incredibly important to have strong investors that believe in you and will help you write your story. And that's the role Ryan Sweeney and Accel have played for Qualtrics - supporting our incredible growth and success over the past decade. Accel's continued partnership and renewed investment in Qualtrics is huge and it's only going to make this next chapter of our story even more interesting and impactful'.

Web site: www.qualtrics.com .