[May 22, 2012] Qualtrics Raises Funding from Accel Partners and Sequoia Capital Tweet May 22, 2012 (Close-Up Media via COMTEX) -- Qualtrics announced Accel Partners and Sequoia Capital will provide a range of services and $70 million to help Qualtrics expand its SaaS product offerings beyond market research and accelerate its global growth, beginning with the hiring of another 250 employees in the next year alone. "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," said Ryan Smith, CEO and co-founder, Qualtrics, in a release dated May 15. "We offer end users the do-it-yourself tools and rich analytics they need to be responsive to a fast-changing market, with security and collaboration across the enterprise." "Data continues to proliferate through the enterprise in areas beyond the data center," said Ryan Sweeney, general partner, Accel Partners. "As external data generated from customers, sales reps, channel partners, and employees also explodes, Qualtrics is uniquely positioned to help its customers proactively act on this information with its suite of professional-grade software products." "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." The company's product line includes the Qualtrics Research Suite. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]