SurveyMonkey sells TrueSample to investor group

US — DIY online survey company SurveyMonkey has sold its TrueSample business to a group of investors led by Five Peaks Capital Management.

TrueSample will operate as an independent company under the leadership of the current management team following the sale.

SurveyMonkey acquired TrueSample, a data quality tool, in 2011 from TPG Capital. It also took over Zoomerang, an online survey app, and ZoomPanel, a sample provider, in the same deal.

ZoomPanel was sold to Critical Mix last month.

TrueSample screens out fake, duplicate, unengaged and unqualified survey respondents while also identifying survey design problems.

Mark Menig (pictured), general manager of TrueSample, said: “This move positions us perfectly to be an independent technology provider to our customers, and and we are excited to refocus the business on the rapid deployment of new and innovative services on the TrueSample platform.”

SurveyMonkey CEO Dave Goldberg added: “It has been a pleasure working with the highly talented TrueSample team, and we are confident that becoming an independent industry solution is a natural evolution for their business.”