INSUBCONTINENT EXCLUSIVE:
Customer experience management platform Medallia has filed to raise up to $70 million in Series F funding, according to regulatory
documents obtained by the Prime Unicorn Index
The new shares were priced at $15 apiece, valuing the nearly two-decades-old business at $2.4 billion.Medallia confirmed the funding
A previous version of this report pinpointed Medallia’s valuation at $1.7 billion.Medallia is expected to finally transition to the public
markets in 2019, a year chock-full of high-profile unicorn IPOs
The downsized round, which is less than half of its Series E funding, will likely be Medallia’s final infusion of private investment.San
Mateo-headquartered Medallia, led by newly appointed chief executive officer Leslie Stretch, operates a platform meant to help businesses
better provide for their customers
Its core product, the Medallia Experience Cloud, provides employees real-time data on customers collected from online review sites and
The service leverages that data to provide insights and tools to improve customer experiences.Leslie Stretch, president and CEO of Medallia
(PRNewsfoto/Medallia)According to PitchBook, Medallia boasts a particularly clean cap table, especially for a roughly 18-year-old business
It’s backed by four venture capital firms: Sequoia Capital, Saints Capital, TriplePoint Venture Growth and Grotmol Solutions, the latter
which invested a small amount of capital in 2010
Medallia has raised a total of $268 million in equity funding, including a $150 million round in 2015 that valued the company at $1.25
billion.Prior to hiring Stretch to lead the company to IPO, Medallia co-founder Borge Hald ran the company as CEO since its 2001 launch
Hald is now executive chairman and chief strategy officer.
