Pendo, a Raleigh, NC-based provider of a product experience platform, raised $25m in Series C financing.
The round was led by Meritech Capital Partners with participation from existing investors Battery Ventures, Contour Venture Partners, Core Capital Partners, IDEAFund Partners, Salesforce Ventures and Spark Capital. In conjunction with the funding, Meritech Capital Partners’ General Partner Rob Ward will join Pendo’s board of directors.
The company, which has now raised $56m to date — $45m in the last six months, intends to use the funds to scale its engineering team as well as make strategic investments to accelerate growth.
Founded in 2013 and led by Todd Olson, Chief Executive Officer, Pendo provides an analytics and guidance platform designed to help companies understand and influence how users interact with their software applications. The company’s platform for product experience enables users to understand and guide the complete user journey through their application with analytics, user feedback, & contextual help.
In 2016, Pendo’s revenues more than quadrupled and its customer base grew to hundreds of software companies including Citrix, Coupa, Gainsight, Henry Schein, Infor and Optimizely.
It now tracks over 20 billion user actions and improves the product experience of over 22 million users every month.
The company is also announcing new offices in New York and San Francisco.