Pendo.io, Inc. Strengths, Domain Expertise, and Key Differentiators
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. Pendo is also the producer of ProductCraft, a destination editorial site with insights by and for product leaders; and Pendomonium, a premier product conference.
Pendo.io, Inc. Recent Developments
Over the fiscal year, Pendo shipped 67 product releases, leading to new products, features and capabilities, including:
Pendo Free: A free version of Pendo gives companies access to Pendo’s analytics and in-app guidance capabilities, helping product managers answer the common question: Are my customers using my product the way we envisioned they would? Core Events: This new set of features lets product teams identify which user actions in their applications are most critical for achieving product adoption and customer retention, and then track user engagement over time. Product Engagement Score (PES): Calculated by averaging adoption of Core Events, growth and stickiness, PES offers product leaders a single metric to describe how their product is performing, and it’s now available as a feature inside Pendo. Product leaders can view their score and drill down into each of the three metrics in order to set goals and create action plans to improve product engagement over time. Digital Adoption: A suite of solutions that increase employee productivity and satisfaction by accelerating the adoption of software used by internal teams. Companies can boost training efforts, improve user compliance and simplify complex user experiences. Adopt for Partners: Pendo’s first OEM product counts 14 partners, with hundreds of their customers using Pendo to deliver customized in-app training to their employees. New partners include Cartegraph, Encode, PrismHR and Wolters Kluwer TeamMate. Partners/Integrations: Pendo now integrates with 40 technology partners and counts 20 solutions partners.
Pendo.io, Inc. Mergers and acquisitions (M&A) Activities
In May 2019, Pendo acquired Receptive Software, a privately-held SaaS company based in Sheffield, the U.K. Founded in 2015, Receptive is product demand intelligence platform that helps B2B product managers and customer success teams to capture, prioritize, and report on customer feedback and feature requests, and communicate product roadmaps to multiple stakeholders.
Combined, Pendo and Receptive offer complete integrated platform unifying the tools product-led organizations need to make better product decisions, communicate product direction, and deliver better product experiences. features they would like to see added to their website.
Pendo.io, Inc. Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Pendo.io, Inc. applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Pendo.io, Inc. and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Pendo Product Cloud customers.
Pendo.io, Inc. Overview
Ownership: - Battery Ventures, Spark Capital, Meritech Capital, Sapphire Ventures
Number of Employees: 700
Functional Market: Onboarding,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction and Real Estate, Consumer Packaged Goods, Distribution, Education, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Oil, Gas and Chemicals, Professional Services, Retail, Transportation, Utilites,
Pendo.io, Inc. Key Cloud and HCM Applications
Pendo Product Cloud
Pendo.io, Inc. HCM and Cloud HCM Applications Revenues, $M:
|Type/Year||2019||2020||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|HCM Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud HCM Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Pendo.io, Inc. Revenue Breakdown by Type:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
Pendo.io, Inc. HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2020 HCM Revenues, By Sub-Functional Markets, $M
Pendo.io, Inc. HCM Applications Revenues By Verticals, $M:
Pendo.io, Inc. Total and HCM Applications Revenues by Region:
|Region||% of Total Revenues||2020 Total Revenues, $M||2020 HCM Applications Revenues, $M|
Pendo.io, Inc. Direct vs Indirect sales
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Pendo.io, Inc. Customers - Breakdown by Geo, Size, Vertical and Product
No. of Pendo.io, Inc. Customers: 2000
No. of Pendo.io, Inc. HCM Applications Customers: 2000
No. of Pendo.io, Inc. Cloud HCM Customers: 2000
No. of Pendo.io, Inc. Cloud HCM Subscribers: x
Pendo counts nearly 2,000 customers, including some of the world’s largest retailers, hospitality companies, banks and educational institutions such as Zendesk, LexisNexis, Coupa, Gainsight, BMC, and Sprinklr, Mindbody, Gigamon, Paysafe, Performance Horizon Group Ltd, Pistor AG, R1 RCM, Raven Industries, Remedy Partners, UserTesting, Wrench Inc. and many others. Customer wins in the Q4 FY20 including John Wiley & Sons, Imperfect Foods Inc., Mercury Insurance, Inc., Essity Hygiene and Health AB, Seismic Software, Brainshark, Zix, and Balto Software.
In Q2 FY21, Pendo added 195 new customers including Gett, Lendio, Bombora, Cardlytics, TaxBit, Photobucket, WatchGuard Technologies, MessageBird, Paylocity, PRO Unlimited, Duck Creek Technologies, and the United States Golf Association.
Pendo.io, Inc. Market Opportunities, M&A and Geo Expansions
In July 2021, Pendo raises $150 Million in funding led by B Capital Group, with participation from Silver Lake Waterman and existing investors, the Series F round will fund aggressive global expansion, strategic acquisitions, and continued innovation in Pendo’s platform that helps product and IT teams drive adoption of the software they build for customers or provide to internal employees. The investment brings Pendo’s total funds raised to $356 million and its valuation to $2.6 billion. The company also announced a significant revenue milestone; it has surpassed $100 million in annual recurring revenue.
In October 2019, Pendo.io, the product cloud company raised $100 million in Series E funding to help companies become product-led. Sapphire Ventures led the round, with participation from new investors General Atlantic and Tiger Global, along with existing investors Battery Ventures, Meritech Capital, FirstMark, Geodesic Capital, and Cross Creek. Pendo has now raised $206 million and will use the new funds to accelerate global expansion and drive product development to meet the growing demand for software that makes digital products easier to use. The company’s valuation is now $1 billion.
In April 2019, Pendo launched Pendo VIA for Marketo, the first in a series of native guided adoption solutions designed to help companies accelerate onboarding, improve adoption, and govern the usage of enterprise apps. Pendo VIA for Marketo 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 the power of Marketo beyond a few power users. Pendo VIA for Marketo also provides analytics for marketing operations teams to understand usage and identify skill gaps.
Pendo.io, Inc. Risks and Challenges
Gaining market share in a very competitive market.
Pendo.io, Inc. Ecosystem, Partners, Resellers and SI
Pendo now employs more than 100 people outside the United States, with growth of its teams in Israel and the United Kingdom and its late 2020 expansion into the Asia-Pacific region. Pendo opened an office in Tokyo in November 2020, and will open an office in Sydney, Australia in early 2021, bringing its total global office count to eight.
In February 2021, Pendo has joined the Microsoft ISV Connect program, enabling Microsoft Dynamics 365 customers to help their employees learn how to use the software quickly and successfully.
In June 2020, Pendo partnered with Qualtrics. Combining the power of the two platforms means that customers can increase the response rate (a key business KPI), which will lead to better, more insightful data.
Pendo.io, Inc. Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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