Qualtrics Raises $70 Million in Funding from Accel Partners and Sequoia Capital

QualtricsQualtrics, the company that makes sophisticated research simple, announced a couple of days ago that it has partnered with Accel Partners and Sequoia Capital in the two firms’ largest-ever joint investment. Accel and Sequoia will provide a range of services and $70 million to help Qualtrics expand its SaaS product offerings beyond market research and accelerate its global growth, beginning with the hiring of another 250 employees in the next year alone.

Full press release can be found here.

Forbes covered the story and they found out interesting details about the deal and about Qualtrics. Here are some of them:

  • Qualtrics turned down a $500 million offer.
  • Current deal valued the business at less than the rejected buyout offer, but they managed to keep their independence.
  • Qualtrics in on track to generate $50 million in revenue in 2012.

More about Qualtrics

Qualtrics makes sophisticated research simple. The company is a worldwide leader in enterprise data collection and analysis with software that is easy enough for an intern, but sophisticated enough for a Ph.D. Global organizations and research firms of all types and sizes use Qualtrics software to make better decisions based on strategic research intelligence. Founded in 2002, Qualtrics has more than 4,000 enterprise customers including 600 universities worldwide, all of the top business schools, and half the Fortune 100. For more information and a free trial, visit www.qualtrics.com.

Qualtrics’ appeal is its blend of easy-to-use question-generating tools, nifty data visualizations and low cost. Users can pick from 87 question types, including sliding scales that correlate to happy to sad faces or grades from A to F, and heat maps that allow people to click on a picture of a room or stadium to indicate what they like or where they want to sit. Results display in 35 different graphs and can be shared via e-mail or viewed in real time as responses pour in online.

For more details about Qualtrics and survey software reviews, visit www.survey-reviews.net.