Total amount raised
$3.2 Billions
Latest funding date
Location
Qualtrics has successfully raised significant funding over multiple rounds, culminating in its acquisition by Silver Lake for $12.5 billion. The platform offers a comprehensive suite of tools for managing customer, product, employee, and brand experiences on a single system of record.
Keep reading to explore the intricacies of Qualtrics' fundraising journey and the investors backing this innovative platform.
What Is Qualtrics?
Founded in 2002 in Provo, Utah, Qualtrics was established by Jared Smith, Ryan Smith, and Stuart Orgill. The company specializes in Experience Management (XM) software, providing tools to manage customer, product, employee, and brand experiences on a single platform.
Qualtrics' platform leverages AI to deliver insights that help businesses optimize their interactions and strategies. This comprehensive approach has made it a trusted solution for over 8,500 enterprises worldwide, including a significant portion of the Fortune 100.
With a workforce of 5,001 to 10,000 employees, Qualtrics continues to innovate and expand its offerings, solidifying its position as a leader in the experience management industry.
How Much Funding Has Qualtrics Raised?
- Series A
- Amount Raised: $70M
- Date: May 2012
- Lead Investors: Accel, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Series B
- Amount Raised: $150M
- Date: September 2014
- Lead Investors: Accel, Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market expansion.
- Series C
- Amount Raised: $180M
- Date: April 2017
- Lead Investors: Accel, Insight Partners
- Valuation at Round: $2.5 billion
- Motivation Behind the Round: To prepare for an IPO and provide liquidity for employees.
- Debt Financing
- Amount Raised: $1B
- Date: June 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and strategic initiatives.
- Private Equity Round
- Amount Raised: $1.8B
- Date: June 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and expand market presence.
Qualtrics has raised a total of $3.2 billion. The most recent valuation is $12.5 billion.
Key Investors
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage companies. It has been a significant investor in Qualtrics since its Series A round.
- Investment Focus Areas: Technology, internet, software companies.
- Notable Investments: Facebook, Dropbox, Slack.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that invests in seed, early, and growth-stage companies. It has been involved with Qualtrics since its Series A round.
- Investment Focus Areas: Technology, healthcare, consumer, financial services.
- Notable Investments: Apple, Google, Airbnb.
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm investing in high-growth technology and software companies. It has participated in multiple funding rounds for Qualtrics.
- Investment Focus Areas: High-growth technology, software companies.
- Notable Investments: Twitter, Shopify, DocuSign.
- Silver Lake
- Details: Silver Lake is a global technology investment firm focused on large-scale investments in technology and tech-enabled industries. It acquired Qualtrics for $12.5 billion.
- Investment Focus Areas: Technology, tech-enabled industries.
- Notable Investments: Dell Technologies, Alibaba Group, Twitter.
- SAP
- Details: SAP is a multinational software corporation that makes enterprise software to manage business operations and customer relations. SAP acquired Qualtrics in 2018 and later spun it off.
- Investment Focus Areas: Enterprise software, business solutions.
- Notable Investments: Ariba, Concur Technologies.
What's Next for Qualtrics?
Qualtrics stands on the brink of significant growth, driven by the expansion of its Experience Management (XM) platform. This platform aims to become as essential as Salesforce or Workday, capturing a substantial market share. With a recent $180 million funding round and a pre-money valuation of $2.5 billion, the company is well-positioned to leverage these opportunities.
Future fundraising efforts, including a potential IPO within the next 18 months, could provide the capital needed for strategic acquisitions and further development of the XM platform. However, challenges such as maintaining high revenue growth and navigating the complexities of going public remain. Balancing these factors will be crucial for Qualtrics as it continues to scale.
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