SurveyMonkey is a Silicon Valley company that operates an online survey and questionnaire platform. The company announced a new $250 million funding round. The company said the new capital will be used at least in part to pursue M&A and to give existing investors and employees the option to cash out. The round included participation from a group of institutional investors. The financing brings total venture capital invested into the 15‑year‑old company to more than $1.15 billion and reportedly values SurveyMonkey at about $2 billion. That $2 billion valuation is a significant increase from the $1.35 billion valuation reported one year earlier; the raise was first reported by the Wall Street Journal and confirmed by the company. SurveyMonkey is a cloud-based, consumer-friendly freemium SaaS platform for building and distributing online surveys and analyzing results. Its product suite includes surveys, an analytics platform, APIs and a developer portal; the company recently rebuilt its stack and launched a redesigned analytics offering. SurveyMonkey reports 14 million free users, 360,000 paying customers (paying roughly $200–$300/year), and averaged 65 million monthly visitors. Last year the company generated $113 million in revenue, growing ~30% year-over-year, with $61 million in earnings at a 54% margin, and it is profitable. The company employs roughly 200 people and has been reinvesting in technology and analytics capabilities. Management sees significant international expansion opportunity—site now supports 15 languages and accepts payments in 29 currencies but expects more growth outside English-speaking markets. SurveyMonkey provides online survey tools on a freemium model, upselling paid plans for advanced features. Paid tiers cost up to $20 per month for enhanced functionality, and enterprise unlimited surveys are offered for about $200 per year. The service reports roughly 25 million people responding to surveys each month and is described as a high‑margin business with revenues rumored above $50 million annually. The company has grown headcount from 14 in April 2009 to about 75 employees and earlier this year acquired Precision Polling, a phone survey startup. Management declined to disclose detailed financials publicly, but the firm’s cash‑flow profile has enabled it to pursue large debt financing.

Total raised

$1.1B

Funding rounds

4

Latest round

Equity

Latest activity

Dec 2014