May 16, 2012

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah


Martin Plaehn

Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

In the Lab

Rent to Own

Business Trends
Back from the Dead

Living Well
Artful Inspiration

A Breath of Fresh Air

Worst-Case Scenario

Regional Report
Northern Utah

Measure Up

Industry Outlook
Travel & Tourism



Qualtrics Raises $70 Million for State’s Largest First-Round Funding

Di Lewis

May 16, 2012

Provo-based Qualtrics announced Tuesday morning that it partnered with Sequoia Capital and Accel Partners for $70 million in first-round funding.

While Qualtrics is 10 years old, it has been profitable since being founded and this is the first time the company has accepted outside investment, said CEO and cofounder Ryan Smith. The money is the two firms’ largest-ever joint investment. In addition to the $70 million, Accel and Sequoia will provide other services to Qualtrics.

Qualtrics is known for helping companies do sophisticated research and data collection, which is then broken down into easy to understand interfaces. The company recently released Qualtrics 360, a leadership and development platform, and Qualtrics Site Intercept, an online marketing and research tool that interacts with specific site visitors.

Smith said they made the decision to accept funding so they could grow faster with the new products, as well as add another 250 employees in the next year. The company currently has about 200 employees.

 “Qualtrics is the biggest software company you haven't heard of yet,” said Bryan Schreier, partner, Sequoia Capital. “They've become the foundation of market research and customer analytics for thousands of very happy customers.”

Smith said, “Today most research and data collection is outsourced at great expense, or done internally with tools that are either too basic or much too complex.” Because of that he created Qualtrics to make sophisticated data easy to use.


Utah Business Social
UB Events View All
Best Companies to Work For 2015Utah Business Event
Dec 10, 2015
Utah Business magazine is thrilled to announce the 2015 Best Companies to Work for Event! This y...
Community Events View All
Empowering Self and Others: Become and Awakener
Dec 1, 2015
Uncover the secrets of empowerment. Whether you are a parent, a teacher or a Coach, you’ll find ...
Secrets to Financing your Business
Dec 1, 2015
Register:  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
* Event Description: