UserTesting, Inc. (“UserTesting”), a leading provider of human insight, delivered through a video-first, experience testing platform, today announced the pricing of its initial public offering of 10,000,000 shares of common stock at a public offering price of $14.00 per share. All of the shares are being offered and sold by UserTesting. In addition, UserTesting has granted the underwriters a 30-day option to buy an additional 1,500,000 shares of common stock at the initial public offering price, less underwriting discounts and commissions. The shares are expected to begin trading on the New York Stock Exchange under the ticker symbol “USER” on November 17, 2021, and the offering is expected to close on November 19, 2021, subject to customary closing conditions.

Morgan Stanley and J.P. Morgan are acting as lead book-running managers and representatives of the underwriters for the offering. Piper Sandler, Truist Securities, and William Blair are acting as joint book-running managers for the offering. Canaccord Genuity, Needham & Company, Oppenheimer & Co., Raymond James, Baird, Loop Capital Markets, and Academy Securities are acting as co-managers for the offering.

A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on November 16, 2021. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by telephone at (866) 718-1649, 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.

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 CxN™, typically in less than a day, and often within a few hours. Using machine learning, the 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 September 30, 2021, UserTesting had more than 2,100 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.

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