Pendo.io, a Raleigh, NC-based product cloud company, raised $100m in Series E funding.
The company’s valuation is now $1 billion.
The round was led by Sapphire Ventures, with participation from new investors General Atlantic and Tiger Global, along with existing investors Battery Ventures, Meritech Capital, FirstMark, Geodesic Capital, and Cross Creek.
The company, which has now raised $206m, will use the new funds to accelerate global expansion and drive product development.
Led by CEO and co-founder Todd Olson, Pendo is a product cloud for digital product teams and application owners to deliver software experiences. It now serves over 1,200 customers, including Verizon, ADP, Cardinal Health, RE/MAX, LabCorp, Bright Horizons, Okta, OpenTable, Salesforce, Zendesk and the Michigan Supreme Court.
The company, which also operates editorial site and community, ProductCraft, sponsored events and podcast, has a three-year CAGR of 334% and now employs more than 375 people in Raleigh, New York City, San Francisco, London, Sheffield, United Kingdom, and Tel Aviv.
Earlier this year, Pendo completed its second acquisition with the purchase of UK-based Receptive.io.