Qualtrics: Venture Investment Helps Double Client Base

Provo, Utah-based Qualtrics, the developer of enterprise survey software, said that it has doubled its client base, thanks to the $70M investment it received from Accel Partners and Sequoia Capital last year. The startup--which is led by Ryan Smith--said the growth came mostly from enterprises with over $100M in annual revenues. The investment last year was the largest funding in the region in 2012. Qualtrics reportedly turned down a $500M acquisition offer earlier this year. Qualtrics develops survey software used by companies to collect information on their customers, across mobile, online, social, and other channels.