SurveyMonkey bulking up B2B platform with TechValidate acquisition
Late summer is proving to be anything but dead as far as M&A activity in the tech sector is concerned.
Following up deals at Accenture and CA Techonologies, SurveyMonkey announced on Tuesday it is buying TechValidate, a web-based software platform specializing in marketing content automation.
Founded in 2007, TechValidate built an on-demand and automated platform for curating customer data derived from a variety of sources -- from case studies to testimonials and reviews -- for later use across marketing and sales communication channels.
SurveyMonkey plans to integrate those solutions with its own analysis services, especially those aimed toward B2B clients. Essentially, B2B customers will be able to publish marketing content directly from SurveyMonkey's core online survey platform.
"TechValidate's automated content-generation platform helps every customer now get more from their survey results," explained SurveyMonkey CEO Bill Veghte in Tuesday's announcement. "They've taken data analytics one step further and moved into easily and effortlessly producing verified marketing content."
TechValidate's management team, which consists of approximately 50 employees, will stay put at their current offices in Emeryville, California, just across the bay from SurveyMonkey's headquarters in Palo Alto.
Financial terms of the transaction have not been disclosed.
The last few months have been a tumultuous time for SurveyMonkey.
Last month, the cloud-based company hired Veghte, previously vice president of HP's Enterprise Group, as its new CEO following the unexpected death of David Goldberg in May.
Veghte was also named to SurveyMonkey's board of directors alongside Goldberg's widow and Facebook COO Sheryl Sandberg along with David Ebersman, CEO of Lyra Health.