UserTesting Files Registration Statement for Proposed Initial Public Offering

SAN FRANCISCO–(BUSINESS WIRE)–#CX–UserTesting, Inc. (“UserTesting”), a leading provider of human insight, delivered through a video-first, enterprise SaaS platform, today announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed initial public offering of shares of its common stock.

UserTesting has applied to list its common stock under the ticker symbol “USER” on the New York Stock Exchange. The number of shares to be offered and the price range for the proposed offering have not yet been determined.

Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC will act as lead book-running managers and representatives of the underwriters for the proposed offering. Piper Sandler & Co., Truist Securities, Inc. and William Blair & Company, L.L.C. will act as joint book-running managers for the proposed offering. Canaccord Genuity LLC, Needham & Company, LLC, Oppenheimer & Co. Inc., Raymond James & Associates, Inc., Robert W. Baird & Co. Incorporated, Loop Capital Markets LLC and Academy Securities, Inc. will act as co-managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus, when available, may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (866) 803-9204 or by email at prospectus-eq_fi@jpmorganchase.com.

A registration statement on Form S-1 relating to the proposed offering of these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About UserTesting

UserTesting has pioneered a video-first, enterprise-grade SaaS platform that enables organizations to execute customer-centric visions by seeing and hearing the experiences of real people as they engage with products, designs, apps, processes, concepts, or brands. The UserTesting Human Insight platform captures diverse customer perspectives from targeted audiences, who have opted in to share their thoughts, whether for digital, real-world, or omnichannel experiences. The platform generates video-based Customer Experience Narratives, or CxNs, typically in less than a day, and often within a few hours. Using machine learning, our platform analyzes and surfaces key moments of insight rapidly and at scale. This helps organizations to free up time and resources and make better customer experience decisions. As of June 30, 2021, UserTesting had more than 2,000 customers, making up more than half of the world’s top 100 most valuable brands according to Forbes. UserTesting is headquartered in San Francisco, California.