Pendo.io, Inc.
Unicorn · $1BRaleigh, US · Founded 2013 · Delaware corporation · 973 employees on LinkedIn · 15 known investors
Pendo is a product experience platform that combines software usage analytics, in-app guidance, and user feedback to help organizations accelerate feature adoption and deliver better product experiences. It serves Fortune 500 enterprises, B2B tech startups, educational institutions, and healthcare systems across multiple industries.
Also known as Pendo · Pendo.io
Founders & leadership
Pendo.io, Inc. was founded in 2013 by Saurabh Sodani, Todd Olson, and Erik Troan.
Board
Investors · 15
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Also in the syndicate · 4
Reported raises · per SEC filings
Form D private placements$368.3M disclosed across 9 rounds · 2013–2024
▶$9.9MraisedAug 2024 · 32 investors · OtherRule 506(b)
- Megan QuinnDirector
- Dana EvanDirector
- Neeraj AgrawalDirector
- Rajeev DhamDirector
- Brett QueenerDirector
- Todd OlsonExecutive Officer, Director
- Rob WardDirector
- Erik TroanDirector
- Greg SchottDirector
- Offering amount
- $9.9M
- Amount sold
- $9.9M
- First sale
- Jul 2024
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$150MraisedJul 2021 · 28 investors · OtherRule 506(b)
- Rob WardDirector
- Todd OlsonExecutive Officer, Director
- Greg SchottDirector
- Brett QueenerDirector
- Offering amount
- $150M
- Amount sold
- $150M
- First sale
- Jul 2021
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$100MraisedOct 2019 · 18 investors · OtherRule 506(b)
- Brett QueenerDirector
- Rajeev DhamDirector
- Neeraj AgrawalDirector
- Todd OlsonExecutive Officer, Director
- Megan QuinnDirector
- Erik TroanExecutive Officer, Director
- Rob WardDirector
- Offering amount
- $100M
- Amount sold
- $100M
- First sale
- Oct 2019
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$50MraisedSep 2018 · 15 investors · OtherRule 506(b)
- Erik TroanExecutive Officer, Director
- Neeraj AgrawalDirector
- Will DunbarDirector
- Rob WardDirector
- Todd OlsonExecutive Officer, Director
- Megan QuinnDirector
- Brett QueenerDirector
- Offering amount
- $50M
- Amount sold
- $50M
- First sale
- Aug 2018
- Incorporated
- Corporation, Delaware, 2013
- Federal exemptions
- 06b
▶$25MraisedJul 2017 · 11 investors · OtherRule 506(b)
- Neeraj AgrawalDirector
- Will DunbarDirector
- Erik TroanDirector
- Todd OlsonExecutive Officer, Director
- Megan QuinnDirector
- Offering amount
- $25M
- Amount sold
- $25M
- First sale
- Jul 2017
- Incorporated
- Corporation, Delaware, 2013
- Federal exemptions
- 06b
▶$20MraisedDec 2016 · 10 investors · OtherRule 506(b)
- Megan QuinnDirector
- Erik TroanDirector
- Todd OlsonExecutive Officer, Director
- Neeraj AgrawalDirector
- William DunbarDirector
- Offering amount
- $20M
- Amount sold
- $20M
- First sale
- Dec 2016
- Incorporated
- Corporation, Delaware, 2013
- Federal exemptions
- 06b
▶$11.3MraisedNov 2015 · 16 investors · OtherRule 506(b)
- William DunbarDirector
- Erik TroanDirector
- Eric BoduchDirector
- David SteinbergDirector
- Todd OlsonExecutive Officer, Director
- Offering amount
- $11.3M
- Amount sold
- $11.3M
- First sale
- Oct 2015
- Incorporated
- Corporation, Delaware, 2013
- Federal exemptions
- 06b
▶$1.3MraisedMar 2015 · 6 investors · OtherRule 506(b)
- David SteinbergDirector
- Todd OlsonExecutive Officer, Director
- Will DunbarDirector
- Offering amount
- $1.5M
- Amount sold
- $1.3M
- First sale
- Mar 2015
- Incorporated
- Corporation, Delaware, 2013
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Valuation · disclosed
Disclosed eventsSource: SEC prospectus filings, and round valuations the company or its investors disclosed — follow each entry's link for the claim.
Company profile
researched Aug 2026Pendo.io, Inc. develops a product experience platform that captures how users interact with software applications and lets teams act on that behavior inside the product. The platform pairs software usage analytics with in-app guidance, user feedback and sentiment collection, and session replay, so that product, design, support and go-to-market teams can measure adoption, identify friction and deploy onboarding flows, notifications and campaigns without engineering work.
The company positions its data layer as a "product context graph" spanning both human and AI-agent activity, reporting 40 trillion captured events, more than one billion users and over 18,000 agents and applications tracked. Product modules span the software development lifecycle: Product Analytics, Sentiment, Agent Analytics and the Leo agent for planning; Guides, Orchestrate, Predict and Pendo for Agents for building and acting; Session Replay and Analytics for observation; and Command Center for measurement. An MCP server and Agent Toolkit expose Pendo data to external AI clients such as Claude and to agents customers build or buy.
Beyond software, Pendo runs the Mind the Product community and a Learning Lab of courses, and has historically produced the ProductCraft editorial site and the Pendomonium product conference.
Founding story
Pendo was founded in 2013 in Raleigh, North Carolina by former product managers whose prior experience included Rally, Google, Cisco and Red Hat, with the stated aim of creating a software category for the product team and improving society's experiences with software.
Business model
Pendo sells its product experience platform to organizations that build or deploy software, serving product, UX, support and customer-facing teams; its investor-facing materials describe recurring-revenue subscription growth, and the platform is used by 14,000+ companies across 115 industries.
Software subscription revenue; company communications reference recurring revenues growing 400 percent over a 12-month period (2016) and a three-year revenue CAGR of 289 percent (2018).
Traction
The company reports 14,000+ companies using Pendo across 115 industries, 1B+ monthly users, 20B+ daily events processed, 40 trillion cumulative events and 18K+ agents and apps, with 850+ employees in 10 offices. Earlier disclosures show more than 600 customers and 227 employees in September 2018, over 22 million monthly users in July 2017, and 30x customer growth over the two years preceding December 2016.
Latest developments
Recent product direction centers on AI: Agent Analytics for monitoring AI agents, the Leo agent, Pendo for Agents and an Agent Toolkit, a "Headless Pendo" model that feeds product context to customer-built or purchased agents, and an MCP server that lets employees query Pendo data in natural language from AI clients. The company also opened the Pendo Learning Lab with new courses and lists 2025 recognitions including an AI Innovation of the Year finalist placement and G2 Grid Leader (Fall 2025).
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Pendo describes itself as the most comprehensive product experience platform and as operating the largest product context graph; third-party listings place it among cloud software leaders, including Forbes Cloud 100 selections (2018-2023), Deloitte Technology Fast 500 (2019-2023) and G2 Grid Leader status (Fall 2025). Investors and the company have framed it as a category-defining company for the product management function.
The platform combines behavioral analytics, in-app guidance and feedback in one system that non-technical teams can operate without engineering resources, and extends that dataset to AI agents through an MCP server, Agent Toolkit and Agent Analytics so both people and autonomous agents can be measured and given product context.
Technology
A tag-based instrumentation layer captures user and agent behavior from a product's first use, processing 20B+ daily events and a reported 40 trillion events in total. Capabilities include product and agent analytics, session replay, friction and rage-click detection, sentiment/NPS collection, in-app guides and orchestration, predictive churn and expansion signals (Predict), a conversational agent (Leo), and an MCP server plus Agent Toolkit for feeding product context into third-party AI clients and customer-built agents.
Go-to-market
Direct enterprise and B2B SaaS sales supported by demos and a demo center, customer case studies, partner programs, and community and education channels including Mind the Product, the Pendo Learning Lab, the ProductCraft editorial site and the Pendomonium conference; funding rounds were explicitly used to scale sales, marketing and R&D and to expand into enterprise accounts.
Fortune 500 enterprises, B2B SaaS and technology companies, educational institutions and healthcare systems, as well as traditional enterprises undergoing digital transformation; named customers over time include Zendesk, Salesforce, Coupa, Gainsight, BMC, Sprinklr, Citrix, Infor, Optimizely, Rapid7, FICO, Henry Schein, ADP, Sage, Nelnet, CallRail, Procare, Pushpay and Datasite.
Geography
Headquartered in Raleigh, North Carolina, with 10 offices; earlier expansion added New York and San Francisco offices (2017) and funding was directed toward growth in Europe and Asia (2018).
History
Founded in 2013 in Raleigh, Pendo raised a $20 million Series B led by Spark Capital in December 2016, a $25 million Series C led by Meritech Capital Partners in July 2017 (bringing total funding to $56 million), and a $50 million Series D led by Sapphire Ventures in September 2018 that took cumulative funding to $106 million — described at the time as the most venture capital raised by a software company in North Carolina's Research Triangle in nearly two decades. In 2019 the company acquired product demand intelligence platform Receptive, rebranding it Pendo Feedback, and in October 2019 announced $100 million in new funding at a stated $1 billion valuation, again led by Sapphire Ventures with new investors General Atlantic and Tiger Global Management. The company has since grown to 850+ employees across 10 offices and extended the platform to analytics and context for AI agents.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Competitors · 10
by search overlap
Companies competing with Pendo.io, Inc. for the same Google search keywords, organic and paid, via search-intersection analysis.
Timeline · 8
launches, deals, and filingsRecent recognitions listed by the company include AI Innovation of the Year finalist, The Power List, G2 Grid Leader (Fall 2025), Most Loved Workplaces, Partner Innovation Award, and CPO of the Year for Trisha Price.
Pendo lists Technology Fast 500 recognition for 2019-2023 and Cloud 100 recognition for 2018-2023.
Round led by Sapphire Ventures with new investors General Atlantic and Tiger Global Management plus existing investors; Pendo stated it reached a $1 billion valuation.
$100M source ↗
Pendo acquired product demand intelligence platform Receptive, which became Pendo Feedback.
Funding intended for expansion in Europe and Asia, sales, marketing and R&D, and further move into enterprise markets; brought total raised to $106 million.
$50M source ↗
Alongside its Series C, Pendo announced new offices in New York and San Francisco to serve its customer base.
Meritech General Partner Rob Ward joined Pendo's board of directors; proceeds earmarked for scaling engineering and growth investments.
$25M source ↗
Spark Capital General Partner Megan Quinn joined Pendo's board of directors as part of the financing.
$20M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structure▸Research sources · 8
primary sources listed
- Pendo.io, Inc.pendo.io · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Pendo.io, Inc. do?
- Pendo is a product experience platform combining usage analytics, in-app guidance, feedback and AI-agent context for software teams.
- Who founded Pendo.io, Inc.?
- Pendo.io, Inc. was founded by Saurabh Sodani, Todd Olson, Erik Troan in 2013.
- Who are Pendo.io, Inc.'s investors?
- Pendo.io, Inc.'s investors include Array Ventures Management Llc, B Capital Group, B4 Capital, Battery Ventures, Bonfire Ventures, Contour Venture Partners, Cross Creek Advisors, Elevate Innovation Partners and 3 more.
- How much funding has Pendo.io, Inc. raised?
- Pendo.io, Inc. has disclosed $368.3M raised across 9 rounds.
- Where is Pendo.io, Inc. headquartered?
- Pendo.io, Inc. is headquartered in Raleigh, US.