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§ Private Profile · Provo, UT, USA
Qualtrics is a single system of record for all experience data. Initially created to run surveys in the cloud, today Qualtrics allows organizations to manage...
Qualtrics has raised $1.1B across 5 funding rounds.
Key people at Qualtrics.
Qualtrics was founded in 2002 by Jared Smith (Founder) and Ryan Smith (Founder).
Qualtrics has raised $1.1B in total across 5 funding rounds.
Qualtrics is the leading experience management software that helps organizations manage customer, employee, product, and brand experiences.
Key people at Qualtrics.
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Qualtrics is a leading experience management (XM) platform that enables organizations to collect, analyze, and act on experience data (X-data) across customers, employees, products, and brands. Originally built as a cloud-based survey tool, Qualtrics has evolved into a comprehensive system of record for all experience data, helping enterprises drive actionable insights and improve business outcomes. The company serves a broad range of industries—including retail, healthcare, financial services, and technology—by solving the critical challenge of understanding and optimizing human experiences at scale.
Qualtrics has demonstrated strong growth momentum, transitioning from a bootstrapped startup to a global leader in XM. After a high-profile IPO in 2021 and subsequent acquisition by Silver Lake and CPP Investments in 2023, Qualtrics continues to expand its platform and influence, serving thousands of enterprise clients worldwide.
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Qualtrics was founded in 2002 in Provo, Utah, by Scott M. Smith—a marketing professor at Brigham Young University—alongside his sons Ryan and Jared Smith, and Stuart Orgill. The idea emerged from Scott’s desire to create an accessible, web-based tool for academic research, making sophisticated survey technology available to schools and researchers. When Scott was diagnosed with cancer in 2001, Ryan left an internship at Hewlett-Packard to help his father, and together they began building the product. By the time Scott recovered, the team had already secured 20 academic clients.
The company operated out of the Smith family basement for its first five years, bootstrapping its way to profitability. Early traction came from academia, but Qualtrics quickly expanded into the enterprise market, leveraging its powerful, customizable survey engine to serve large corporations. The company’s ability to pivot from academic research to enterprise feedback management laid the foundation for its future dominance in the XM space.
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Qualtrics is at the forefront of the experience management movement, riding the growing trend of data-driven decision-making in both B2B and B2C environments. As businesses increasingly recognize that customer and employee experience is a key differentiator, Qualtrics’ platform becomes essential infrastructure. The convergence of experience data (X-data) with operational data (O-data)—accelerated by partnerships with companies like SAP—positions Qualtrics as a critical player in the future of enterprise software.
Market forces, including the rise of remote work, digital transformation, and heightened customer expectations, are all working in Qualtrics’ favor. The company’s influence extends beyond its own platform, shaping how organizations think about and operationalize experience data across the entire enterprise.
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Qualtrics is poised to remain a dominant force in the experience management category, even as it operates as a private company under new ownership. The future will likely see deeper integration of AI and machine learning into its platform, expanded use cases in emerging markets, and continued innovation in real-time feedback and actionability. As the line between customer experience, employee engagement, and operational efficiency blurs, Qualtrics’ role as the single system of record for experience data will only grow in importance.
Just as Qualtrics began in a basement with a mission to make research accessible, it now stands at the center of a global movement to make every experience count. The journey from academic tool to enterprise powerhouse is a testament to the power of vision, adaptability, and relentless customer focus.
Qualtrics was founded in 2002 by Jared Smith (Founder) and Ryan Smith (Founder).
Qualtrics has raised $1.1B in total across 5 funding rounds.
Qualtrics's investors include Gregg Lemkau, Egon Durban, MSD Capital, Ryan Sweeney, Jeff Lieberman, Bryan Schreier, Accel, Bling Capital, BoxGroup, Bullpen Capital, Ensemble VC, Gradient Ventures.
Qualtrics has raised $1.1B across 5 funding rounds. Most recently, it raised $500.0M Other Equity in June 2023.
