Pendo, a Raleigh, North Carolina-based company that provides a platform that improve software development processes, received a $110m secondary investment led by Thoma Bravo.
The investment was carried out through the purchase of secondary shares from Pendo employees and early-stage investors at the company’s most recent valuation of $2.6 billion.
Thoma Bravo will provide Pendo with operational and financial resources to support growth plans, strategic acquisition efforts, and continued product innovation.
Founded in 2013 by Todd Olson, CEO, Pendo provides a platform that combines in-app messaging with product analytics, user feedback and roadmapping tools to enable product teams to make informed decisions about what features to build and how to accelerate product adoption.
Pendo works with more than 2,000 customers, ranging from Fortune 500 businesses. Customers include software companies and digital enterprises, including Verizon, RE/MAX, LabCorp, OpenTable, Okta, Salesforce and Zendesk.