add_filter( 'gform_field_value_profile_description', 'populate_profile_description' );
function populate_profile_description( $value ) {
    $rich_text_saved = get_option( 'gf_profile_description' );
    GFCommon::log_debug( __METHOD__ . '(): Value retrieved from database: ' . $rich_text_saved );
    return $rich_text_saved;
}

add_action( 'gform_after_submission_1347', 'save_rich_text_content', 10, 2 );
function save_rich_text_content( $entry, $form ) {

    $field_8_content = rgar( $entry, '8' );
    GFCommon::log_debug( __METHOD__ . '(): Value saved to database: ' . $field_8_content );
    update_option( 'gf_profile_description', $field_8_content );

}