NEWS15 May 2012

Qualtrics gets $70m to move beyond MR

Financials North America

US— Online survey software firm Qualtrics has scooped $70m in private equity funding from Accel Partners and Sequoia Capital to help expand its SaaS products beyond market research.

The firm will also use the cash to speed up its international growth, starting with the addition of 250 new employees, according to a statement.

Bryan Schreier, partner at Sequoia Capital, said: “Qualtrics is the biggest software company you haven’t heard of yet. They’ve become the foundation of market research and customer analytics for thousands of happy customers.”

Clients who have used Qualtrics to carry out research include Microsoft, Royal Caribbean, Toyota, Zappos, Vodafone and Southwest Airlines.