USERTESTING ANNOUNCES $100M FUNDING ROUND

SAN FRANCISCO, Calif – March 19, 2020 – UserTesting, a leading provider for on-demand human insights, today announced the completion of its $100M funding led by global venture capital and private equity firm Insight Partners, with participation from existing investors Accel, OpenView, and Greenspring. The new funding will strengthen UserTesting’s go-to-market and development efforts to increase market share and accelerate investment in its platform to continuously deliver on its customers’ expectations as well as global expansion.

“Customer centricity has evolved from being an aspiration to an expectation,” said Rebecca Liu-Doyle, Vice President at Insight Partners. “Companies across industries are now expected to absorb feedback—on a continuous basis—to deliver an ever-improving experience. As a market leading platform for gathering human insights at scale, UserTesting is enabling all teams to unite around the voice of the customer and make better, more empathetic decisions. We are excited to partner with UserTesting on the next leg of this journey.”

With this additional funding, UserTesting intends to continue to invest in growth, specifically:

• Expanding the company’s global footprint in Europe and Asia and building upon the acquisition it made today of Teston, a European provider of multi-language user testing.

• Accelerating product development with a focus on helping more teams get access to human insights and using machine learning to drive intelligent insights.

• Investing in additional capabilities to support global scale and infrastructure and continue to make the platform more powerful for new and existing users alike.

"Our vision is to make it easier for all companies to see, hear, and talk to their customers,” said Andy MacMillan, CEO of UserTesting. "We continue to listen to our own customers, and we are evolving and improving our platform based on their needs. We are honored to be joined by industry-leading software investors in Insight Partners, who share our vision as we make on-demand human insights ubiquitous for companies everywhere.”

Throughout 2019, customers ranked UserTesting as the industry leader among Top User Research Vendors in the G2 Grid® Report. UserTesting was also recognized in 2019 as an Inc. 5000 Fastest Growing Company, Inc. Magazine Best Workplaces, and made the Fortune 70 Best Workplaces in the Bay Area list. The principal driver of UserTesting’s innovation continues to be its customers. The investment from Insight Partners will go back to the overall customer experience and ensure the focus remains on meeting customer needs and expectations as they evolve.