Best Workplaces lists for the fourth year in a row. In 2021, Pendo landed on the Forbes Cloud 100 and Inc. The Raleigh, N.C.-based company has since raised $356 million in venture capital, landed more than 2000 customers and now employs 800 people across seven offices around the globe. A three-time entrepreneur, Olson teamed up with fellow product leaders and technologists from Red Hat, Cisco and Google to launch Pendo in October 2013. Todd Olson is co-founder and CEO of Pendo, which provides software that makes software better. Join Pendo CEO and co-founder Todd Olson for a presentation and discussion around this key theme from his book, “The Product-Led Organization: Drive Growth by Putting Product at the Center of Your Customer Experience.” In this session, learn how product teams are evolving from shipping code to driving adoption of products, factoring customer feedback at every stage of product development, and creating “product ops” to organize and rally entire companies around the product. While this is arguably a good trend-the ability to self-service help, education and purchasing empowers users-it also presents new challenges for product teams, requiring an entirely new strategy for delivering products. “The reality is you can seek what looks like higher ground, in other regions…every region has its own set of challenges,” Olson said.Our digital products are fast becoming a hub of customer experience as sales activities, marketing messages, support, education and training begin to converge inside our applications. But he says it’s still a challenge being in Raleigh, because “it’s still quite small in contrast to other regions,” and that he meets with entrepreneurs every week who are considering leaving the area. Olson said that there’s more buzz around Raleigh now than when he first started the company, as Apple and Amazon have expressed interest or reportedly are interested in expanding there. Todd Olson is co-founder and CEO of Pendo, a platform that accelerates and deepens software product adoption. Todd joined Rally via its acquisition of 6th. The area’s been attractive for employees looking to start a family or buy a house, thanks to its lower cost of living compared to other major metropolitan areas like New York City, San Francisco, or Boston. Before Pendo, Todd served as VP of Products at Rally Software Development which he led through its public offering. She added that “Pendo’s location in Raleigh has completely flipped to be an asset,” and that it has the easiest time recruiting of all of Spark Capital’s portfolio companies. “We didn’t know a lot of potential candidates we could refer to the company, or local customers we could make introductions to for the company,” Quinn told VentureBeat. Megan Quinn, a general partner at Spark Capital and one of Pendo’s board members, told VentureBeat in a phone interview that when the firm was evaluating whether or not to invest in Pendo, they put down the company’s headquarters in Raleigh as a potential risk factor. Other employees are split between offices in Tel Aviv, San Francisco, and New York. The company currently has 225 employees, primarily in Raleigh. “The vision is that when you’re using Pendo, you should be able to increase engagement or increase usage, and if we do that - which would benefit the business - then it should benefit us as well,” Olson said. Pendo charges a company to use its product based on the number of customers that company has - Olson says a customer may pay anywhere from $10,000 to $100,000 annually to use the service. “If you look at over the last 10 to 15 years of cloud computing - sales was the first department to really get disrupted, then marketing … and we think Pendo has a credible chance at being the leading cloud platform for product,” Olson told VentureBeat. This puts Pendo in competition with both messaging companies like WalkMe and enterprise analytics services like Mixpanel.Īnalytics and customer feedback features may be readily accessible to many product teams within consumer tech companies, but Olsen argues that there hasn‘t been a sufficient product with those features readily available for enterprise tech companies. Pendo sells a cloud platform that helps companies - primarily in the B2B space - better capture product usage data by page and by feature, as well as garnering user feedback through in-app polls. Olson said that Pendo plans to use the new round of financing to expand to Europe and to invest more in mobile - the company acquired an Israeli firm called Insert last year to do just that. Pendo has raised a total of $106 million in venture capital funding, which the company claims is the highest amount of money raised by a Raleigh software company in nearly two decades.
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