Bookings climb over 60% from the previous third quarter
RALEIGH, NC—NOVEMBER 18, 2021—Pendo, a company that provides software that makes software better, today announced highlights from its third quarter, which ended October 31, 2021. Notable milestones include significant revenue and customer growth, exciting product enhancements, several key partnerships, a new investor and team achievement — Pendo now employs 800 people around the globe.
Pendo also announced that Trisha Price has joined the company as chief product officer. Price most recently served as chief innovation officer and chief product officer at nCino, a publicly-traded cloud banking platform.
“I’m really excited to introduce new product leadership for the leading platform for product leaders. Trisha brings incredible energy and expertise from innovating at both fast-growing startups and traditional enterprises,” said Todd Olson, CEO and co-founder of Pendo. “She will help us accelerate R&D to ensure our customers continue to have the leading platform for understanding user behavior and driving product adoption.”
Highlights of the quarter include:
Revenue and customer growth: Another quarter of fast growth was driven by increased revenue from existing customers and accelerating sales of Pendo’s mobile, feedback and digital adoption offerings. Pendo added 181 new customers in the quarter, including Veriforce, Camp Gladiator, monday.com, Cin7, Huboo, CFG Bank, Seven Lakes Technologies, Talkwalker, and the New England Center for Children.
Pendomonium: Pendo’s marquee event drew 500+ product, IT, and digital transformation leaders to an outdoor amphitheater in downtown Raleigh for keynotes by Olympian Lolo Jones and Ring Chief Inventor and Founder Jamie Siminoff, as well as dozens of sessions led by Pendo customers, executives and product experts.
At the event, Pendo announced the following product enhancements:
- Pendo Simon: A new machine learning capability which enables product teams to identify patterns in and derive insights from massive data sets.
- Smart Feedback: Powered by Pendo Simon, a new feature in Pendo Feedback called Topics allows companies to automatically extract topics and trends from customers’ feature requests. Requests integrate with Pendo Roadmapping, so product teams can easily tie customer feedback to roadmap initiatives and tell a more compelling story about the features they plan to deliver.
- Collaborative Pendo dashboards: A series of dashboard enhancements allow product teams to more easily collaborate across their organizations. They can customize and share dashboards, embed other product management tools, and annotate inside the dashboard to provide context on projects.
- Pendo Free, now for mobile: Building on the momentum of Pendo Free, now used by more than 2,100 companies, Pendo Free for Mobile gives product teams the ability to deploy Pendo’s analytics and in-app guidance capabilities on any mobile application.
- Reimagined Pendo Adopt: A new version of its digital adoption solution includes analytics that help companies measure how employees are adopting workplace software, and a simplified studio for creating in-app employee onboarding, training and communications.
Partners: Pendo announced three new partnerships during the quarter. An integration with G2 allows Pendo customers to solicit organic, authentic, and comprehensive user reviews inside their applications. A strategic partnership with Grant Thornton brings Pendo’s solutions and thought leadership to enterprises and government agencies that work with the top tier advisory firm. Pendo also became the first product adoption platform to launch on the Google Cloud Marketplace, a procurement and fulfillment platform where enterprises can quickly find and deploy software that runs on the Google platform.
Secondary investment: Thoma Bravo led a $110 million secondary investment in Pendo, purchasing shares sold by employees and early investors as part of a tender offer. Shares were purchased at the company’s most recent valuation of $2.6 billion. Existing investor Battery Ventures also joined the round.
Global expansion: Pendo added 146 new employees in the quarter, including its first employee in Australia. In Japan, Pendo formed a channel development partnership with Macnica, and partnered with JMA Management Center and Wiley & Sons to publish a Japanese version of The Product-Led Organization: Drive Growth by Putting Product at the Center of the Customer Experience, now available where books are sold in Japan.
New executives: Joining Price on the Pendo executive team is Brian Mikkelson, vice president of sales productivity; Catie Ivey, vice president of commercial sales; and Enrique Jenkins, vice president of business technology.
Awards: Pendo ranked #174 on the Deloitte Technology Fast 500, an annual ranking of the fastest-growing technology companies in North America. Newsweek named Pendo to its 2021 Most Loved Workplaces list; and G2 named Pendo a leader in digital adoption and product analytics for Fall 2021. Pendo also won Software Company of the Year at the NC Tech Awards.
Pendo’s mission is to elevate the world’s experience with software. Pendo customers include the world’s leading software companies and digital enterprises, including Verizon, RE/MAX, LabCorp, OpenTable, Okta, Salesforce, and Zendesk. Founded in 2013 in the heart of Raleigh, North Carolina, Pendo is backed by Battery Ventures, Spark Capital, Meritech Capital, Sapphire Ventures and B Capital Group. Through its ProductCraft and customer communities, sponsored events and podcast, Pendo aims to support the success of product and digital leaders everywhere. For more information, visit: www.pendo.io.