Total amount raised
$1.5 Billion
Latest funding date
12/01/2014
Location
SurveyMonkey has successfully raised significant funding over multiple rounds, establishing itself as a key player in the online survey industry. The platform offers a comprehensive suite of tools for creating and analyzing surveys, catering to various industries and roles.
Keep reading to delve into the details of SurveyMonkey's funding journey and the investors who have supported its growth.
What Is SurveyMonkey?
Founded in 1999 by Ryan Finley, SurveyMonkey is headquartered in San Mateo, California. The company has grown to become a global leader in online surveys, providing tools for creating surveys, collecting data, and gaining insights.
SurveyMonkey offers a platform for creating online surveys and forms, collecting data, and analyzing insights. It provides solutions for market research, customer feedback, employee engagement, and more.
With over 1,000 employees, SurveyMonkey continues to innovate and expand its offerings, helping organizations worldwide make data-driven decisions.
How Much Funding Has SurveyMonkey Raised?
- 2009 Recapitalization
- Amount Raised: Not specified
- Date: 2009
- Lead Investors: Spectrum Equity Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To acquire the company and appoint Dave Goldberg as CEO, leading to strategic investments and international expansion.
- Private Equity Round (2009)
- Amount Raised: Undisclosed sum
- Date: 2009
- Lead Investors: Bain Capital Ventures and Spectrum Equity Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Leveraged buyout of most of the founders' shares.
- Debt Financing Round (2010)
- Amount Raised: $100 million
- Date: November 3, 2010
- Lead Investors: Bank of America Merrill Lynch and SunTrust Robinson Humphrey
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To retire the company’s current debt and replace it with new debt at a much lower interest rate, as well as for future acquisitions.
- 2013 Recapitalization
- Amount Raised: $800 million
- Date: January 17, 2013
- Lead Investors: CEO Dave Goldberg, Tiger Global Management, LLC, Google Inc.
- Valuation at Round: Approximately $1.35 billion
- Motivation Behind the Round: To provide liquidity for employees and early investors, enable new and existing shareholders to invest in the company, and optimize the next stage of growth without the costs and distractions of an IPO.
- Equity Financing Round (2014)
- Amount Raised: $250 million
- Date: December 15, 2014
- Lead Investors: T. Rowe Price Associates, Inc., Morgan Stanley Investment Management, Inc., Baillie Gifford & Co, Tiger Global Management, LLC, CEO Dave Goldberg, ICONIQ Capital, Google Capital, Social+Capital Partnership, Ryan and Chris Finley, and Laurel Crown Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster the company’s ability to pursue future M&A transactions and provide liquidity for existing investors and employees.
Total Amount Raised: $1.15 billion
Current Valuation: Approximately $1.35 billion
Key Investors
- Tiger Global Management, LLC
- Details: Tiger Global Management is a leading investment firm focused on public and private companies in the global Internet, software, consumer, and financial technology sectors. The firm has a strong track record of investing in high-growth companies.
- Investment Focus Areas: Internet, software, consumer, financial technology
- Notable Investments: Facebook, LinkedIn, Spotify
- Google Inc.
- Details: Google Inc. is a multinational technology company specializing in Internet-related services and products, including online advertising technologies, search engine, cloud computing, software, and hardware. It is a subsidiary of Alphabet Inc.
- Investment Focus Areas: Technology, Internet, advertising
- Notable Investments: Credit Karma, Duolingo, Glassdoor
- Spectrum Equity
- Details: Spectrum Equity is a private equity firm that invests in growth-stage information economy companies. The firm focuses on Internet-enabled software and information services businesses.
- Investment Focus Areas: Information services, software, Internet
- Notable Investments: Ancestry.com, Grubhub, Lynda.com
- ICONIQ Capital
- Details: ICONIQ Capital is a privately held investment firm and multi-family office that serves influential families and organizations. The firm provides wealth management, investment, and advisory services.
- Investment Focus Areas: Wealth management, venture capital, private equity
- Notable Investments: Uber, Airbnb, Alibaba
- Social+Capital Partnership
- Details: Social+Capital Partnership is a venture capital firm that focuses on investing in companies in the healthcare, education, financial services, and technology sectors. The firm aims to create value and drive social change.
- Investment Focus Areas: Healthcare, education, financial services, technology
- Notable Investments: Slack, Yammer, Box
What's Next for SurveyMonkey?
SurveyMonkey stands at the cusp of significant opportunities, driven by the increasing demand for online survey tools and the integration of survey platforms with enterprise solutions. With $250 million in equity financing, the company is well-positioned to expand its product suite and penetrate new markets, leveraging its strong market position and profitability.
Future fundraising opportunities are likely as SurveyMonkey continues to pursue mergers and acquisitions to enhance its offerings and market reach. However, the company faces challenges such as competition in the online survey industry and the complexities of integrating new technologies and acquisitions. Maintaining profitability while expanding will be crucial for its sustained growth.
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