Pendo.io, the product cloud company, today reported highlights from its first quarter, which ended April 30, 2019. Notable milestones include its second acquisition, a major product launch, substantial growth in bookings, customers, and headcount, and the appointment of six new executives including its first chief customer officer.
New customers include: Okta, CB Insights, MakerBot, CareCloud, Contently, GLIDR, Gecko Labs, MediaOcean, Strikedeck, SparkPost, Beamery, eCornell (Cornell University), Glooko, GoSpotCheck, Insperity, Market Resource Partners LLC, Phorest, Ruby Receptionists, Truckstop.com, and the Michigan Supreme Court.
“The Pendo footprint grew significantly this quarter—we expanded geographically into Europe, formed exciting new partnerships, entered a brand new market, and extended the Pendo product cloud through acquisition and important new features,” said Todd Olson, co-founder and CEO of Pendo. “I’m especially excited to add to the team new leaders who infuse energy, experience, and fresh ideas that will help accelerate our growth.”
Highlights of the quarter include:
Revenue and customer growth: Bookings grew 112 percent in the first quarter over the same period of the prior fiscal year, and the customer count topped 1000. Pendo collected data from more than 167 million end users, totaling more than 1 trillion user events.
Acquisition of Receptive: Its second acquisition in two years, Pendo added product demand intelligence to the product cloud with the acquisition of Sheffield, U.K.-based Receptive. Receptive’s platform helps product managers and customer success teams capture, prioritize, and report on customer feedback and feature requests, and communicate product roadmaps to multiple stakeholders.
ProductCraft: The Conference: ProductCraft hosted a sold-out crowd of nearly 600 for its first conference in San Francisco, featuring as speakers podcast entrepreneur Guy Raz and product leaders from Square, Box, Amazon, AirBnb, LinkedIn, Twilio, Macy’s, Segment, and Outreach. ProductCraft was first introduced in February of last year as a destination editorial site for product managers and has since published over 300 original articles, community polls and debates.
Product: Pendo launched a new product into a new market, and added a host of new capabilities and features, including:
- Pendo VIA for Marketo–This new product from Pendo, the first in a series of native guided adoption solutions for enterprise software buyers, brings targeted, contextual learning and guidance inside the Marketo application to help enforce policies and best practices across distributed brands and business units and expand Marketo access beyond a few power users.
- Revenue insights–Pendo users can now layer a revenue dimension on top of Pendo analytics to better understand the connection between revenue and user sentiment and feature adoption.
- Localization and Internationalization–Users can now dynamically create and manage individual guides in multiple languages in a matter of minutes.
- General release of the visual design studio–Pendo’s new guide authoring system enables any stakeholder to play a role in creating in-app guides and messages. Using drag-and-drop “building blocks,” authors of any technical skill level can easily design and deploy sophisticated and custom in-app messages and requests for feedback without writing any code.
- Partners: Pendo launched Activate, The Pendo Partner Program, with a goal of cultivating innovation atop the Pendo product cloud. Activate partners may integrate their third-party tools within Pendo or pull product insights from Pendo into third-party applications to inform business decisions or trigger workflows and actions.
- EU data center: For customers who need to store data in the European Union, Pendo now provides a separately managed environment, hosted entirely within the EU, to comply with applicable data protection regulations or business requirements.
State of Product Leadership study: The second annual survey of 300 North American product managers revealed some emerging trends in product management: growth in the number of chief product officers, greater alignment between product and design, UX, marketing, and customer success teams, as well as an alarming discrepancy between product team goals and the KPIs they are measured against.
Legal victory: A U.S. district court dismissed a lawsuit filed by competitor WalkMe Ltd. alleging patent infringement and held that the patent at issue in the case was invalid. The quick legal victory means Pendo can keep its focus on innovation rather than ongoing litigation.
Global expansion: Pendo established its EMEA presence with an office in London, and added a development center in Sheffield, U.K. through its acquisition of Receptive. Pendo now counts six offices around the world.
Headcount: 53 new hires during the quarter included executives Micky Csasznik-Shaked, Israel site leader and vice president of engineering; Joe Chernov, vice president of marketing; Ryan Goldman, vice president of product marketing; Jason Mueller, vice president of product management; Andrew Parker, vice president of engineering; and Jennifer Dearman, chief customer officer. The company now employs 333 people worldwide.
Awards: Pendo was named an Inc. Best Workplace as well as the No. 1 private cloud company to work for by Battery Ventures and Glassdoor. The Triangle Business Journal also named Olson to its annual CEO of the Year lineup.
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 BMC, Coupa, Okta, Salesforce, Sprinklr 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
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