Home Strategy New funding round values Qualtrics at US$2.5 billion

Software company Qualtrics has raised US$180 million in a new funding round which values the US-based business at US$2.5 billion.

Venture capital firms Insight Venture Partners, Accel and Sequoia Capital provided the funding which follows Qualtrics’ recent announcement of the launch of its new XM platform which manages the customer, employee, product and brand experience in one single platform.

The valuation of US$2.5 billion is well above Qualtrics valuation of US$1 billion when it completed its last funding round in 2014 and is the single largest aggregate investment in the history of Accel’s portfolio.

“From a revenue standpoint, Qualtrics is already the size of most public companies and there’s room for a lot more growth considering the large and expanding market in which they play. The interest from investors everywhere underscores the notion that Qualtrics is likely the best private software company on the market today — we are very fortunate to be their partner,” said Ryan Sweeney, partner at Accel and Qualtrics board member.

Qualtrics, a provider of experience management software, also announced the appointment of Murray Demo, chief financial officer of Atlassian, to its board of directors and as chair of its audit committee.

Demo’s appointment follows the appointment last year of former Apple and Google executive, Kim Scott, to the Qualtrics board.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

 

 

 

 

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