Pendo Beats Annual Revenue Target, Plans to Hire 400 People in 2021

RALEIGH, N.C., Feb. 25, 2021 /PRNewswire/ -- Pendo, a platform that accelerates successful product adoption, today announced highlights from its fiscal year, which ended January 31, 2021. Notable milestones include substantial growth in bookings from new and existing customers, the launch of its Pendo Free product, and global expansion into the Asia-Pacific region. Demand for Pendo increased as companies plan for long-term remote or hybrid work environments; the proliferation of workplace software has made it a necessity for companies to invest in tools to drive software adoption.

To prepare for future growth, the company also announced plans to hire 400 people this year. More than 120 positions are open now at www.pendo.io/careers/.

"Despite the many challenges of 2020, the team innovated and hustled to meet growing demand for Pendo as companies' digital transformation plans accelerated," said Todd Olson, CEO and co-founder of Pendo. "I'm excited to continue that pace of innovation this year as we launch new products and expand our global footprint."

Highlights of the fiscal year include:

Revenue and customer growth: Pendo exceeded revenue expectations for the year, with growth in new bookings from traditional enterprises and increased sales from existing customers. The customer count approached 2000, with new customers in the fourth quarter including John Wiley & Sons, Imperfect Foods Inc., Mercury Insurance, Inc., Essity Hygiene and Health AB, Salesloft, Seismic Software, Brainshark, Zix, and Balto Software.

Global expansion: 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.

Product: 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.

Community: Pendo supported customers and the broader product community through virtual events, education and thought leadership, and a new book:

    --  Customer events: More than 3,000 people attended the company's first
        virtual Pendomonium user conference tripled from past events; another
        3,000 attended at least one monthly Pendorama event; and 10 new regional
        Pendo User Groups formed, bringing the total to 21. Pendo also announced
        the launch of Pendo Neighborhood, a new platform for Pendo customers
        that includes education, events and networking opportunities.
    --  ProductCraft: Traffic to Pendo's online community for product people
        jumped 40% during the year as it published a record 220 original
        articles and hosted nearly 1,200 attendees for its first virtual event.
    --  The Product-Led Organization: Olson's first book, "The Product-Led
        Organization: Drive Growth by Putting Product at the Center of Your
        Customer Experience," was named a hot new release in several categories
        on Amazon after its release by John Wiley & Sons on September 23, 2020.

Headcount: Pendo experienced headcount growth across every function, adding 168 new employees, including 12 executives. In the fourth quarter, Pendo hired Kiyo Takayama as general manager of Pendo Japan, Kelli Dragovich as chief people officer, Pieter Kreuk as vice president of finance, Jennifer "JR" Rettig as vice president of talent, and Jeff Serlin as vice president of revenue operations. Dean Patton was promoted to senior vice president of North America sales and Gary Putlock to vice president of enterprise sales. The company ended the year with 491 employees.

Awards: Pendo won 21 awards over the course of 2020, including #26 on the Inc. 5000 and #54 on Forbes' Cloud 100 list. The company also earned a spot on the Inc. Best Workplaces list for the third year in a row, and the Triangle Business Journal's Best Places to Work for the fourth consecutive year.

About Pendo
Pendo helps people adopt software more quickly and successfully. Pendo customers include the world's leading software companies and digital enterprises, including Verizon, RE/MAX, LabCorp, OpenTable, Okta, Salesforce, and Zendesk. Founded by product people in 2013 in the heart of Raleigh, North Carolina, Pendo is backed by Battery Ventures, Spark Capital, Meritech Capital and Sapphire Ventures. Through its ProductCraft community, sponsored events and podcast, Pendo aims to support the success of product people everywhere. For more information, visit: www.pendo.io

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SOURCE Pendo