Online survey company Qualtrics nabs $1 billion valuation

Qualtrics is the latest software company to join the $1 billion club with a mega investment from Silicon Valley venture firms Sequoia Capital and Accel Partners.

The online-survey creator on Wednesday announced a $150 million funding round from the two powerhouse venture firms. Qualtrics, which has offices in Utah and Ireland, makes survey software that companies and organizations use to collect and analyze data about customers, employees, products and market insights. Qualtrics was founded in 2002 and is used by about 6,000 businesses and organizations worldwide, from higher education to government agencies. The company says its platform hosts over 2.1 million active surveys every day. Competitors include Palo Alto-based SurveyMonkey,

The Series B investment brings Qualtrics’ total funding to about $220 million, and pushes its market value to more than $1 billion. Its revenue has increased 90 percent over the last five years. Other recent $1 billion valuations in the software sector include San Francisco-based AppDynamicswhose software monitors how applications are performing at companies, and Lookout, also of San Francisco, which makes smartphone security software.


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