One of the unsung heroes among Web startups is SurveyMonkey, the company that offers online surveys. Today, it is announcing a very large round of senior debt financing: $100 million from a syndicate led by Bank of America Merrill Lynch and SunTrust Robinson Humphrey. Survey monkey never really took traditional venture capital. Last year, it raised an undisclosed sum from private equity firms Bain Capital Ventures and Spectrum Equity Investors, which was really a leveraged buyout of most of the founders' shares. The proceeds of this debt financing will be used to retire the company's current debt and replace it with new debt at a much lower interest rate, as well as for future acquisitions. The service has been growing like a weed and currently has 25 million people a month respond to those surveys. Most of those don't pay, but Survey Monkey upsells customers to paid plans with more bells and whistles and which allows for more surveys. Earlier this year, it acquired Precision Polling, a phone survey startup.
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