Online research platform provider Qualtrics has pulled in $180 million in new funding at a $2.5 billion valuation, silencing rumors that it would join the list of tech companies to go public this year. Founded in 2002, Qualtrics bootstrapped itself for a decade before raising $70 million in 2012 and $150 million more at a unicorn valuation in 2014.
Existing backers Insight Venture Partners, Accel and Sequoia have all participated in the latest round for the company, which is based in Provo, UT, and provides data meant to help companies collect feedback from customers and employees. Qualtrics will likely use the funding to acquire other companies, per a Fortune report, and isn’t in a rush to file for its IPO. The company is on track for $250 million in revenue this year.