SurveyMonkey Lands Massive $100 Million Debt Financing
One of the unsung heroes among Web startups is SurveyMonkey, the Portland-based company that offers online surveys. Today, it is announcing a very large round of debt financing: $100 million from a syndicate led by Bank of America Merrill Lynch and SunTrust Robinson Humphrey. Survey monkey never really took traditional venture capital. Last year, it raised an undisclosed sum from private equity firms Bain Capital Ventures and Sepctrum Equity Investors.
The service has been growing like a weed and currently has 25 million people a month creating surveys. Most of those don’t pay, but Survey Monkey upsells customers to paid plans with more bells and whistles and which allows for more surveys. Earlier this year, it acquired Precision Polling, a phone survey startup.
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