INSUBCONTINENT EXCLUSIVE:
Pendo, the late-stage startup that helps companies understand how customers are interacting with their apps, announced a $100 million Series
E investment today on a valuation of $1 billion.The round was led by Sapphire Ventures
Also participating were new investors General Atlantic and Tiger Global, and existing investors Battery Ventures, Meritech Capital,
FirstMark, Geodesic Capital and Cross Creek
Pendo has now raised $206 million, according to the company.Company CEO and co-founder Todd Olson says that one of the reasons they need so
much money is they are defining a market, and the potential is quite large
back to product teams to help prioritize features and improve the user experience
In addition, the product provides ways to help those users either by walking them through different features, pointing out updates and new
features or providing other notes
Developers can also ask for feedback to get direct input from users.Olson says early on its customers were mostly other technology
companies, but over time they have expanded into lots of other verticals, including insurance, financial services and retail, and these
companies are seeing digital experience as increasingly important
certainly thinks about, and it has started to put the structure in place to prepare should that time ever come
