SurveyMonkey, the popular online polling service, has raised $100 million in debt financing, which intriguingly it says it might use in part to fund acquisitions. The announcement comes nearly a year-and-a-half after PE firms Spectrum Equity Investors and Bain Capital Ventures bought a majority stake in the company and brought in former Yahoo (NSDQ: YHOO) Music GM Dave Goldberg to run it.
So, what might SurveyMonkey want to buy? Under Goldberg, the company appears to have decided to double down on the polling market, rather than branch out into offering its customers other, related services. The company has made one small acquisition this year, buying up phone survey firm Precision Polling.
SurveyMonkey says that it will also be using some proceeds to pay off existing debt, as well as for other “general corporate purposes.” Bank of America Merrill Lynch and SunTrust Robinson Humphrey led the financing round. JPMorgan Chase Bank, Royal Bank of Canada, Webster Bank, and Zions First National Bank all also participated.