SurveyMonkey valued at US$2b after funding round

[NEW YORK] SurveyMonkey, a popular online survey service, announced Monday it has raised US$250 million (S$328 million) in capital to help fund expansion plans.

The funding values the startup at US$2 billion, according to a source familiar with the details.

"As SurveyMonkey continues to grow and seek new opportunities, we are excited to add a range of institutional investors to our already sophisticated investor base," said chief executive Dave Goldberg.

"We plan to use some of the new capital to pursue potential acquisitions as well as provide meaningful liquidity to our employees and investors who have shared in our growth over the years." The company based in Palo Alto, California, has raised more than US$1.2 billion in debt and equity since it was created in 1999, according to the Wall Street Journal, which first reported details on the funding.

The new funding round includes T. Rowe Price, Morgan Stanley Investment Management and Baillie Gifford & Co, according to a company statement.

SurveyMonkey claims to have some two million poll responses each day and has 20 million customers including most of the Fortune 500 companies, but also academic institutions, organizations and neighbourhood sports groups.

AFP