Pendo, a Raleigh, NC-based data-driven platform for companies to deliver products, raised $11m in Series A financing.
The round was led by Battery Ventures, with participation from Salesforce Ventures and existing seed investors Contour Venture Partners, Core Capital Partners and IDEAFund Partners. In conjunction with the funding, Battery General Partner Neeraj Agrawal will join Pendo’s board.
The company intends to use the funds to continue to accelerate its growth through additional sales and marketing activity, and increase client acquisition.
Led by Todd Olson, CEO, Pendo provides a SaaS-based platform that delivers detailed insights into customers’ product usage to allow product management teams to improve onboarding and product engagement, as well as to retain customers over time.
Product management teams can view all of their customers’ behavior in their products and dynamically insert interactive messages to improve adoption.
The software can also be used by sales teams to increase the effectiveness of prospective clients’ product trials and trial conversions and support teams to engage more effectively with clients through in-application trainings.
Current clients include Coupa, Dude Solutions, FICO, Infor, Invoca, JAMA Software and SciQuest, among others.