Pendo, a Raleigh, N.C.-based creator of a product cloud for digital products and data-driven product teams, raised $50m in venture capital funding.
The round, which brought total funding to date to $106m, was led by Sapphire Ventures, with participation from new investors Geodesic Capital and FirstMark Capital, as well as existing investors Battery Ventures, Spark Capital, Meritech Capital and Contour Venture Partners.
The company intends to use the funds to expand in Europe and Asia, boost sales, marketing, and research and development; and continue its expansion into enterprise markets.
Founded in 2013 by Todd Olson, CEO, Pendo is a product cloud that provides user insight, user guidance and user communication for digital product teams. With Pendo, these product teams can understand product usage, collect feedback, measure NPS, onboard users, and announce new features in app, without requiring engineering resources.
The company, which counts more than 600 customers, including Zendesk, LexisNexis, Coupa, Gainsight, BMC, and Sprinklr, is also the producer of ProductCraft, a destination editorial site with insights by and for product leaders; and Pendomonium, a premier product conference.
Pendo currently employs 227 people across its four global offices in Raleigh, San Francisco, NYC and Yakum, Israel.