Growth Funds for Product Usage Analyst Pendo

In the US, product usage analysis platform Pendo has raised $20m in a Series B round of funding, which it will use to accelerate company growth and expand its product capabilities.

The firm's data-driven platform is designed to help software product managers and teams understand and influence how users interact with their software applications. Without requiring any engineering resources, organizations can use Pendo to capture all user behavior, gather feedback, and provide contextual help inside their apps. The firm is currently tracking more than six billion user actions per month.

New funding has been led by Spark Capital, with participation from existing investors Battery Ventures, Contour Venture Partners, Core Capital Partners, IDEA Fund Partners and Salesforce Ventures. As part of the financing, Spark Capital General Partner Megan Quinn will join Pendo's Board of Directors.

CEO Todd Olson (pictured) comments: 'When a company truly understands its users, they can personalize and adapt the experience inside their product to make their users more productive. Pendo exists to help companies create software that is able to make every individual user successful, and while proud of our growth to this point, we feel we're in the early innings of the potential ahead. We are excited and honored to have Megan and her team at Spark Capital as partners in this journey.'

Web site: www.pendo.io .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.