Momentive Acquisition, Valuation, Funding & Investors

Momentive was acquired by Symphony Technology Group for $1.5B in March 2023.

Momentive acquisition price

$1.5B

Acquired by Symphony Technology Group · Mar 2023

Momentive revenue

$113M

Undisclosed stage · Jan 2013

Cumulative funding Momentive raised

$694M

across 2 funding rounds

Key investors in Momentive

Momentive Overview

About Momentive

Momentive is a San Mateo-headquartered provider of survey software and experience management tools formerly known as SurveyMonkey. Founded in 1999, it equips organizations with platforms for customer, employee, and market feedback via web, mobile, and integrations with Slack and Microsoft Teams. The suite includes AI analysis for text and sentiment, supporting Fortune 500 companies in over 190 countries.


Founded

1999

HQ

United StatesSan Francisco, CA

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$113M (Jan 2013)

Valuation

$2B (Dec 2014)

Momentive Acquisition

Momentive was acquired by Symphony Technology Group for $1.5B on 13 March 2023.

Before the acquisition Momentive had raised $694M across 2 funding rounds.

Momentive Global, the maker of SurveyMonkey, provides insights management solutions including survey tools that connect users with AI-powered technology for business decisions across products, industries, customers, and employees. On March 13, 2023, Momentive entered a definitive agreement to be acquired by a consortium led by Symphony Technology Group in an all-cash transaction valued at approximately $1.5 billion, with shareholders receiving $9.46 per share—a 28% premium to the 10-day volume-weighted average closing price ending March 13, 2023, and 46% premium to the closing price before sale rumors on October 19, 2022. The deal followed an extensive strategic review by Momentive's board, which unanimously approved it, viewing it as the best path for shareholder value after a failed $4.1 billion Zendesk bid in 2021. STG's software and data investment expertise was cited to support scaling Momentive's customer base and products amid volatile markets needing stakeholder feedback. The transaction closed on May 31, 2023, after shareholder approval, with no financing condition; Momentive delisted from Nasdaq, operates privately from San Mateo, California, retaining Momentive and SurveyMonkey brands.

Momentive acquisition details
AcquirerDateTypePrice
  • Symphony Technology Group
13 Mar 2023PE buyout$1.5B

Momentive Valuation

Momentive is currently valued at $2B, based on its undisclosed-stage round in December 2014. Read the announcement ↗

The $250M round included Baillie Gifford, ICONIQ Capital, T. Rowe Price, Social Capital, Ryan Finley and 4 other investors.

Momentive's valuation has grown 1.5x from $1.3B at its undisclosed-stage round in January 2013 to $2B in December 2014, across 2 priced rounds.

Momentive valuation by funding round

Revenue multiple
Momentive valuation by funding round
DateStageValuationRevenue Multiple
Dec 2014Undisclosed stage$2B-
Jan 2013Undisclosed stage$1.3B11.5x

Momentive Revenue

Momentive's latest recorded revenue is $113M, as of its undisclosed-stage round in January 2013. At a $1.3B valuation, that implies a 11.5x revenue multiple.

Momentive revenue by funding round

Momentive revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jan 2013$113M$1.3B11.5xUndisclosed stage

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Momentive Funding History

Momentive has raised a total of $694M across 2 funding rounds.

Momentive's first fundraising round was a $444M undisclosed-stage round in January 2013. The most recent completed round was a $250M undisclosed-stage round in December 2014.

Momentive funding rounds

Momentive funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2014Undisclosed stageBaillie Gifford; ICONIQ Capital; T. Rowe Price; Social Capital; Ryan Finley; CapitalG; Chris Finley; Morgan Stanley; Tiger Global$250M$2BSurveyMonkey (now Momentive Global, later renamed SVMK and then Momentive) raised $250 million of equity financing in December 2014 from Google Capital (now CapitalG), Tiger Global Management, Baillie Gifford, Social Capital, ICONIQ Capital, Morgan Stanley and T. Rowe Price, with co-founders Chris and Ryan Finley also taking part. The round valued the company at about $2 billion. SurveyMonkey is a Palo Alto based online survey and feedback platform used by individuals and businesses to collect and analyse customer, employee and market data. The funding supported product development, international expansion and a tender for early shareholders. The company later listed on Nasdaq in 2018 as SVMK and was taken private by STG in 2023.
Jan 2013Undisclosed stageTiger Global (lead); ICONIQ Capital; Laurel Crown Partners; Social Capital; Spectrum Equity; CapitalG$444M$1.3BSurveyMonkey, now Momentive, completed a USD 794 million recapitalization announced in January 2013 at a valuation of about USD 1.35 billion. The package combined USD 444 million of equity with USD 350 million of debt arranged by a JPMorgan-led syndicate. Tiger Global provided the largest share of the equity and became the top shareholder, with partner Lee Fixel joining the board, while Google Capital took the second-largest share. Social Capital, ICONIQ Capital, Laurel Crown Partners, CEO Dave Goldberg and several individual investors also participated. Much of the money went to early investors and employees rather than into the business; Spectrum Equity and Bain Capital, which had acquired a majority stake in 2009, sold part of their holdings. Goldberg said the recapitalization was not a step toward an IPO. SurveyMonkey operates an online survey and feedback platform founded in 1999 and headquartered in Palo Alto, California.

Who has invested in Momentive?

11 investors have backed Momentive across its funding rounds, including Tiger Global, Social Capital, ICONIQ Capital, CapitalG, T. Rowe Price and Morgan Stanley.

Lead investors include Tiger Global.


Momentive Investors

Investors in Momentive by funding rounds participated
InvestorHQRoundsRoleFirst check
ICONIQ CapitalUnited StatesSan Francisco, CA2ParticipantJan 2013
Social CapitalUnited StatesSan Francisco, CA2ParticipantJan 2013
CapitalGUnited StatesSan Francisco, CA2ParticipantJan 2013
Tiger GlobalUnited StatesNew York City, NY2LeadJan 2013
Baillie GiffordUnited KingdomEdinburgh1ParticipantDec 2014
Laurel Crown PartnersUnited StatesLos Angeles, CA1ParticipantJan 2013
T. Rowe PriceUnited StatesBaltimore, MD1ParticipantDec 2014
Ryan FinleyUnited StatesPortland, OR1ParticipantDec 2014
Spectrum EquityUnited StatesSan Francisco, CA1ParticipantJan 2013

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Momentive

Momentive has acquired 5 companies to date.

Last acquisition by Momentive was on August 5th 2019. Momentive acquired GetFeedback for $68M.


Latest Acquisitions by Momentive

GetFeedback
Usabilla
TechValidate Software
Renzu
Description
-
Usabilla is an Amsterdam-headquartered provider of voice-of-the-customer solutions for websites, apps, and emails. Founded in 2009, the company serves clients including HP, Vodafone, Philips, Booking.com, Lufthansa, KLM, and The Economist. Usabilla for Websites deploys feedback buttons with screenshot tools and targeted surveys to pinpoint issues. Usabilla for Apps enables in-app visual feedback for device-specific problems. Usabilla for Email integrates rating widgets into campaigns to enhance click-through rates and content performance.
TechValidate Software is a web-based platform that automates marketing content generation for B2B organizations using verified customer feedback. Clients such as HP, IBM, Dell, Symantec, EMC, Hitachi, F5, Infor, Ping Identity, SAP, and Box leverage its tools to produce case studies, infographics, and testimonials for demand generation, sales enablement, and marketing campaigns. The software integrates customer data to create customized, authentic assets that accelerate buyer engagement.
-
HQ CountryUnited StatesNetherlandsUnited StatesUnited States
HQ City
-
Amsterdam
San Francisco, CA
-
Deal Date5 Aug 20195 Mar 20191 Jul 20151 May 2015
Valuation$68M$80M$60M$17M
EV/Revenue
EV/EBITDA

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Investments by Momentive

Momentive has invested in 1 company to date.

Latest investment by Momentive was on November 16th 2016. Momentive invested in Apptentive in their $4M Series A round.


Latest Investments by Momentive

Apptentive
Apptentive
Description
Apptentive is a Seattle-based mobile customer experience platform integrated into thousands of iOS and Android apps. The software enables in-app surveys, targeted messages, and prompts to gauge sentiment, boost ratings, and retain users. Apptentive powers interactions for clients like Buffalo Wild Wings, eBay, Philips, Saks Fifth Avenue, and Viacom across millions of monthly engagements.
Apptentive is a Seattle-based mobile customer experience platform integrated into thousands of iOS and Android apps. The software enables in-app surveys, targeted messages, and prompts to gauge sentiment, boost ratings, and retain users. Apptentive powers interactions for clients like Buffalo Wild Wings, eBay, Philips, Saks Fifth Avenue, and Viacom across millions of monthly engagements.
HQ CountryUnited StatesUnited States
HQ City
Seattle, WA
Seattle, WA
Deal Date16 Nov 201624 Sep 2014
RoundSeries ASeries A
Raised$4M$5M
InvestorsBlossom Street Ventures; Origin Ventures; Vulcan CapitalOrigin Ventures; Founders' Co-op; Golden Ventures
Valuation$12Mundisclosed
EV/Revenue
EV/EBITDA

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Momentive Competitors

Momentive competitors include listed companies like Intouch Insight and FiscalNote, and private ones like fabric, Teamworks, Zenoti and eSign.

Public and private companies comparable to Momentive
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Intouch InsightCanadaCanadaPublicly listed$18M$193K$8M-
FiscalNoteUnited StatesUnited StatesPublicly listed$95M($32M)$152K1.5x
fabricUnited StatesSeattle, WAPrivate--$1.5B-
TeamworksUnited StatesDurham, NCPrivate--$1.5B-
ZenotiUnited StatesSeattle, WAPrivate$35M-$1.5B-
eSignChinaHangzhouPrivate--$1.5B-

Momentive Public Comps

Momentive is no longer listed, but its public comps include Clarivate, Ipsos, RWS Holdings, GlobalData, Mitsubishi Research, Latent View Analytics, Beijing Dataway Horizon, Enento Group, YouGov and Intapp.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Clarivate$2.5B$829M2.2x2.4x6.5x5.7x
Ipsos$2.8B$417M0.7x0.7x4.9x4.6x
RWS Holdings$927M($26M)0.8x0.8x(29.2x)5.0x
GlobalData$433M$140M1.9x1.8x5.7x5.4x
Mitsubishi Research$768M$87M0.5x0.4x4.0x4.2x
Latent View Analytics$113M$28M3.4x3.1x13.9x14.4x
Beijing Dataway Horizon$54M($3M)7.6x-(143.9x)-
Enento Group$171M$49M3.4x3.3x12.0x9.2x

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Common questions about Momentive

When was Momentive founded?Momentive was founded in 1999.
Where is Momentive headquartered?Momentive is headquartered in San Francisco, CA, United States.
Is Momentive publicly listed?No, Momentive was acquired by Symphony Technology Group in March 2023.
Who acquired Momentive?Momentive was acquired by Symphony Technology Group in March 2023.
How much was Momentive acquired for?Momentive was acquired for $1.5B in March 2023.
What is Momentive's valuation?Momentive was last valued at $2B in its undisclosed-stage round in December 2014.
How much funding has Momentive raised?Momentive has raised $694M across 2 funding rounds.
What was Momentive's last funding round?Momentive's last funding round was a $250M undisclosed-stage round in December 2014.
Who are Momentive's investors?Momentive's investors include ICONIQ Capital, Social Capital, CapitalG, Tiger Global, Baillie Gifford, Laurel Crown Partners, T. Rowe Price, Ryan Finley, Spectrum Equity, Chris Finley and 1 other.
What is Momentive's revenue?Momentive's latest recorded revenue is $113M (January 2013).
What is Momentive's revenue multiple?Momentive's latest valuation implies a 11.5x revenue multiple ($1.3B valuation on $113M of revenue).
Which companies are comparable to Momentive?Companies comparable to Momentive include Intouch Insight, FiscalNote, fabric, Teamworks, Zenoti and eSign.
How many companies has Momentive acquired?Momentive has acquired 5 companies, including GetFeedback, Usabilla, TechValidate Software, Renzu and Fluidware.
What was the largest acquisition by Momentive?The $80M acquisition of Usabilla in March 2019 is the largest acquisition Momentive has made to date.
How many companies has Momentive invested in?Momentive has invested in 1 company, including Apptentive.
What was Momentive's last investment?In November 2016, Momentive invested in Apptentive's $4M Series A alongside Blossom Street Ventures, Origin Ventures and Vulcan Capital.

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