When husband-and-wife duo Borge Hald and Amy Pressman left Boston Consulting Group to form a company specializing in gathering and analyzing customer feedback in 2001, Pressman told her husband she didn’t want to run the business when it got too big. Seventeen years later, after a longer-than-anticipated CEO search, she got her wish. In August, Medallia announced it was appointing Leslie Stretch (who had just sold cloud firm Callidus for $2.4 billion) as CEO ahead of an IPO push.
Unusual in that it raised the bulk of its funding across multiple rounds from just one firm (Sequoia Capital), Medallia took in $250 million in GAAP revenue in its last fiscal year, triple what it had when it received a $1.25 billion valuation in 2015. Known for online surveys, Medallia is trying to make customer feedback valuable to businesses anywhere online. As for the IPO, Stretch says: “We expect the company to be public in the next several quarters, subject to market conditions.” — A.K.