Qualtrics, LLC

Qualtrics was founded in 2002 by Ryan Smith, Scott Smith, Jared Smith, and Stuart Orgill in Provo, Utah. The company develops cloud-based software under the category of experience management (XM), enabling organizations to gather and act on feedback across customer, employee, product, and brand touchpoints.

Its primary platform, the Qualtrics XM Platform, includes products such as CustomerXM, EmployeeXM, ProductXM, and BrandXM. The software is used by enterprises, government agencies, and academic institutions to run surveys, analyze sentiment, and generate operational insights. Qualtrics is widely used in market research and human resources functions across large organizations globally.

SAP acquired Qualtrics in January 2019 for approximately $8 billion, shortly before Qualtrics had planned to go public. Qualtrics subsequently completed an IPO on Nasdaq in January 2021 under the ticker XM, with SAP retaining a majority stake. In March 2023, Silver Lake and Canada Pension Plan Investment Board acquired Qualtrics in a take-private transaction valued at approximately $12.5 billion. Zig Serafin has served as CEO since 2021.