It’s been an exciting few weeks for Pendo, starting with our Series D funding announcement and listing to the Forbes Cloud 100 last month and continuing this week with inclusion on Forbes’ Next Billion-Dollar Startups list for 2018. Read the full announcement below, and check out the list here.
RALEIGH, NC — OCTOBER 17, 2018 — Pendo, creator of the leading product cloud for digital products and data-driven product teams, today announced that it has been included on Forbes’ 2018 Next Billion-Dollar Startup List. Forbes and TrueBridge Capital Partners produce the list annually to recognize companies in the U.S. that are most likely to achieve billion-dollar valuations in coming years.
The honor comes just weeks after Pendo announced $50 million in Series D funding, led by Sapphire Ventures, and Forbes named the company to the Cloud 100, its annual list of the top private cloud companies in the world.
“This recognition by Forbes is another nod toward the hard work and dedication of our team, a product gaining enterprise adoption, and an incredibly loyal and enthusiastic customer base,” said Todd Olson, co-founder and CEO of Pendo. “We are honored to be listed among this impressive list of companies and excited for continued growth ahead.”
The winning companies were chosen from a pool of nominations by 200 venture capital firms. They were judged on factors like revenue, funding, operating strategies, competitive challenges, and their most recent valuation. In its fourth year, the award team evaluated nearly 100 companies and narrowed down its list to 25 honorees.
According to Forbes, in the three years since the Next Billion-Dollar Startups list was first published, one third of listed companies have hit the $1 billion marker through new funding rounds, acquisitions or initial public offerings.
Pendo is a product cloud that provides user insight, user guidance and user communication for digital product teams. With Pendo, these product teams can understand product usage, collect feedback, measure NPS, onboard users, and announce new features in app—all without requiring engineering resources. Founded in 2013 in the heart of Raleigh and backed by Battery Ventures, Spark Capital, Meritech Capital and Sapphire Ventures, Pendo has raised $106 million and counts more than 600 customers, including Zendesk, Salesforce, Coupa, Gainsight, BMC, and Sprinklr. Pendo is also the producer of ProductCraft, a destination editorial site with insights by and for product leaders; and Pendomonium, a premier product conference. For more information, visit: www.pendo.io
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