DIY survey software firm SurveyMonkey has raised $250m in an equity funding round, which it will use to pursue future M&A transactions and to enable existing investors and employees to sell some of their equity. According to reports, the funding values the firm at $2 billion.
Founded in 1999 by brothers Ryan and Chris Finley, SurveyMonkey provides online subscription-based tools through which individuals can create surveys, collect responses and analyze survey results, along with an Enterprise version, for companies wanting to gather, compare and share business-related feedback data, and an 'Audience' sampling service. The company currently has more than 400 employees, based in the US, Luxembourg, Ireland, Portugal and the UK.
Investors in its latest round of funding include institutional funds and accounts managed by T. Rowe Price Associates, Morgan Stanley Investment Management, and Baillie Gifford & Co, as well as current investors Tiger Global Management, ICONIQ Capital, Google Capital, Social+Capital Partnership, Ryan and Chris Finley, and Laurel Crown Partners. The company has raised more than $1.2 billion in debt and equity since it was founded.
CEO Dave Goldberg (pictured), who also invested in the funding round, comments: 'We are excited to add a range of institutional investors to our already sophisticated investor base. We plan to use some of the new capital to pursue potential acquisitions as well as provide meaningful liquidity to our employees and investors who have shared in our growth over the years.'
Web site: www.surveymonkey.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.