Tuesday, May 15, 2012

Qualtrics Raises Stunning $70M From Accel, Sequoia

Provo, Utah-based Qualtrics, a developer of enterprise data collection and analysis software headed by Ryan Smith, has raised a huge, $70M funding round for the firm from two high profile venture capital firms. The round looks to be the largest venture capital round raised by a Utah company in years, dwarfing the amount of venture capital invested in the state over the last few quarters. Qualtrics said the funding will go to expand its software-as-a-service product offerings, and accelerate its global growth. Qualtrics said it plans to hire another 250 employees in the next year alone. Qualtrics software is used by businesses for online data collection and analysis, and allows do-it-yourself tools and analytics software to those companies. More information »