Pendo Raises $20m in Series B Financing

pendoPendo, a Raleigh, N.C.-based data-driven platform for companies to improve the way they deliver software product experiences, raised $20m in Series B financing.

The round was led by Spark Capital with participation from existing investors Battery Ventures, Contour Venture Partners, Core Capital Partners, IDEA Fund Partners and Salesforce Ventures. In conjunction with the financing, Spark Capital General Partner Megan Quinn will join Pendo’s board of directors.

The company intends to use the funds to continue to accelerate its growth and expand its product capabilities.

Founded in 2013 and led by Todd Olson, CEO, Pendo provides software product managers and teams with an integrated platform to improve the product experience, to extend their product to capture all user behavior, gather feedback, and provide contextual help inside their applications.
The company’s platform is now tracking over 6 billion user actions per month.
Current clients including Coupa, FICO, Infor, Optimizely and Rapid7, among others, use Pendo to improve their product experience, including product management, user experience, sales, customer success, marketing, engineering, and executive leadership.



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