USERTESTING ANNOUNCES LAUNCH OF INITIAL PUBLIC OFFERING

SAN FRANCISCO, California – November 8, 2021 – UserTesting, Inc. (“UserTesting”), a leading provider of human insight, delivered through a video-first, experience testing platform, today announced the launch of its initial public offering of 14,169,407 shares of common stock. UserTesting is offering 10,000,000 shares and certain selling stockholders are offering 4,169,407 shares. In addition, UserTesting intends to grant the underwriters a 30-day option to buy an additional 2,125,411 shares of common stock. The initial public offering price is expected to be between $15.00 to $17.00 per share. UserTesting has been approved to list its common stock on the New York Stock Exchange under the ticker symbol "USER". 

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

A registration statement relating to the proposed sale of these securities has been filed with the Securities and Exchange Commission 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.