NEWS23 October 2018

Qualtrics files for IPO

Data analytics News North America

US – Experience data business Qualtrics has filed for an initial public offering (IPO).

Ryan Smith Qualtrics crop

The company has applied to list on The Nasdaq Global Select Market under the symbol ‘XM’, a reference to what it calls its ‘experience management’ software.

Qualtrics grew its revenue by 41% in the first half of 2018 to $184m, compared to the first half of 2017.

The company was valued at $2.5bn in 2017 when it raised $180m in a round of funding led by Insight Venture Partners and Accel, with participation from Sequoia Capital.

Qualtrics was founded in 2002 in Utah by two brothers – chief executive Ryan Smith (pictured) and president Jared Smith. 

The IPO filing comes a month after competitor SurveyMonkey closed its public debut. 

Qualtrics’ founders said in the company’s S-1 form: "Our mission is to help organisations leverage experience management to turn their customers into fanatics, employees into ambassadors, brands into religions, and products into obsessions."