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Medallia Brings On New CEO To Take It Public

Medallia has hired Leslie Stretch as its new chief executive in the run-up to a public offering that could come early next year, per Forbes. The company, which offers a SaaS app that captures customer feedback for companies, has been led by co-founder Borge Hald since its launch 17 years ago. Hald will move into an executive chairman and chief strategy officer role. Stretch, meanwhile, was most recently CEO of Callidus Software, a CRM software provider that was acquired by SAP for $2.4 billion earlier this year.

Medallia, founded in 2001, is ripe for an exit. Over the years, Sequoia has been a major backer of the San Mateo, CA-based company. Here’s a quick look at its funding and valuation history:

2010: $13M round | $31M valuation
2012: $35M | $103M
2014: $50M | $475M
2015: $150M | $1.3B

Learn more about Medallia in its free profile.