Qualtrics raises US$150m in Series B funding round

25 Sep 2014

Pictured: Qualtrics co-founders Stuart Orgill and Ryan Smith in Dublin last year

Business software company Qualtrics, which plans to employ 150 people in Dublin by 2016, has just raised US$150m in a Series B financing round.

The round of new investment was led by Insight Venture Partners with significant participation from original investors, Accel Partners and Sequoia Capital.

Qualtrics insight management software is currently used in over 75 countries, has over 6,000 enterprises as clients, and is adding approximately 400 new enterprise customers per quarter.

In Ireland the company employs over 50 people with plans to increase this number to 150 people by 2016.

Qualtrics says it will leverage this latest financing round to enhance its product portfolio and to further expand its operations in Ireland and move into new geographic and vertical markets in Europe.

The most important data

Qualtrics has 6,000 enterprise customers worldwide, including Microsoft, Fedex, Jet Blue and HP using its data survey, data collection and analysis technology. In 2012, Qualtrics received a US$70m investment from Accel Partners and Sequoia Capital, the largest ever joint investment undertaken by the two firms.

Qualtrics was started in the basement of their Utah home by father and son team Scott and Ryan Smith and is considered one of the fastest growing companies in the world.

“The most important data is the data we don’t have,” CEO and co-founder Ryan Smith told Siliconrepublic.com last year wen the company came to Dublin.

“If the data was that important we’d already be using it. One of the things we enable businesses to do is collect data and integrate it with their own knowledge base.”

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years