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Usertesting Files for IPO

Dow Jones Newswires ·  Oct 14, 2021 06:30

By Stephen Nakrosis

Usertesting Inc., which operates a software-as-a-service platform enabling companies to see and hear the experiences of customers as they engage with brands, apps and other products, filed for an initial public offering on Wednesday.

The company said its roster of more than 2,000 clients includes Adobe, Stitch Fix, Audible, J.B. Hunt, Autotrader and Zip.

Usertesting said its platform uses machine learning to analyze Customer Experience Narratives, or CxNs, "digitally recorded video narratives from targeted, opt-in audiences." The company also said its technology allows contributors or customers to record their screen or actions on camera, resulting in "a broad array of human signals needed to truly understand a human experience."

For the year ended Dec. 31, 2020, the company said it had total revenue of $102 million. In the year ended Dec. 31, 2019, the company had total revenue of $76.6 million, it said.

Entities affiliated with Accel, with Greenspring Secondaries Fund IV L.P. and with Insight Partners are listed among the company's principal stockholders.

The company didn't provide an expected size or price range for its IPO, but said it applied to list on the New York Stock Exchange under the symbol USER.

Morgan Stanley, J.P. Morgan, Piper Sandler and Truist Securities are listed among the offering's underwriters.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

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