Medallia, a Palo Alto-based company raised $150 million yesterday and became the latest member of the Unicorn club. Unicorns are companies whose valuation is over $1 billion. Medallia’s valuation was over a $1 billion according to Borge Hold, CEO of the company.
The latest round of funding was led by Sequoia Capital, which participated in previous rounds of funding This new tranch of fund will be new products and tools and to expand their global footprint. Currently the company has 700 employees. The company has raised a total of $255 million so far.
Medallia was founded by the husband and wife team of Hold and Amy Pressman. Both are Stanford alums, who worked for Boston Consulting Group before starting Medallia in 2001. The company’s focus is on customer feedback. Medallia helps capture unstructured customer feedback from various devices and platforms and their softward helps improve the customer experience for clients like Four Seasons, Macy’s, Wells Fargo and others.