Analysis shows that startups that use Pendo are disproportionately likely to raise capital
RALEIGH, NC—MARCH 11, 2020—Pendo.io, the product cloud company, today announced a new offering aimed to help startup companies accelerate product market fit, and prove that product traction to early stage investors.
Pendo for Startups gives companies access to the product usage data that today’s investors consider alongside business metrics as they vet deals, as well as sentiment and guidance tools to improve product usage and adoption. These capabilities help early-stage companies overcome what CB Insights recently named the top reason startups fail: failure to prove market need.
They also help startups raise the capital they need to fuel growth. A recent analysis of Crunchbase data found venture-backed Pendo customers 18% more likely to raise a subsequent round of funding than the average startup. Seed-funded customers are 40% more likely to raise a Series A round than the average.
Pendo for Startups includes three core Pendo capabilities:
- Insights: Product and journey analytics by user and account help startups learn why customers engage, return and succeed.
- Sentiment: Targeted in-app surveys and polls enable startups to ask what users think and how they feel about the product. Combining key qualitative usage data, like NPS and health scores, with behavioral data gives these early stage companies a 360-degree view of the customer.
- Guidance: Personalized in-app messages, tooltips, and walkthroughs help users get the most out of a startup’s feature set. Product teams can create custom onboarding and triggered tutorials to ensure each customer gets the product experience that’s right for them.
Pendo for Startups is available to companies that have a web or mobile application and are Series A funded or at an earlier stage. Pricing is for a single application; private equity-funded startups are not eligible. Apply here: https://go.pendo.io/pendo-for-startups-apply.html
Pendo will announce the new offering during a live virtual news event Wednesday March 11 at 9am PT/12pm ET. Pendo is host of the “All the news you missed at SaaStr” event, which features product announcements from 22 SaaS vendors, including Zendesk, G2, ActiveCampaign, Hired, Bandwidth, and more. Pendo arranged the event after SaaStr organizers made the difficult decision to postpone the annual SaaS conference at the request of local officials working to prevent the spread of coronavirus.
Pendo is a product cloud that helps digital product teams and application owners deliver software experiences that users love. Pendo customers include the world’s leading software companies and digital enterprises, including Verizon, LabCorp, BMC, Coupa, Okta, Salesforce, and Zendesk. Founded by product people in 2013 in the heart of Raleigh, North Carolina, Pendo is backed by Battery Ventures, Spark Capital, Meritech Capital and Sapphire Ventures. Through its editorial site and community ProductCraft, sponsored events and podcast, Pendo aims to support the success of product people everywhere. For more information, visit: www.pendo.io