Digital Adoption Platforms
Pendo is a product analytics and digital adoption platform founded in 2013 and headquartered in Raleigh, North Carolina. The company helps software teams understand user behavior and deliver in-app guidance, combining analytics and onboarding guides within a single platform. Co-founded by Todd Olson, Eric Boduch, and two other co-founders, Pendo grew from its first customer check of $5.97 in January 2015 to more than $200 million in annual recurring revenue by fiscal year ended January 31, 2024. Pendo raised approximately $356 million in equity funding through its Series F round in July 2021, which valued the company at $2.6 billion. The Series F was led by B Capital Group. Todd Olson serves as CEO and has publicly stated an ambition to take the company public, making Pendo one of the more prominent IPO candidates among late-stage B2B SaaS companies headquartered in the Research Triangle region. Eric Boduch, a co-founder and early head of marketing, departed in 2022 when the company was generating approximately $130 to $140 million in ARR. He has since launched a venture studio called 24andup, which has incubated four companies, three of which have raised external funding. The interview on which this profile is based was recorded in September 2024 and features Boduch reflecting on Pendo's growth trajectory, marketing playbook, and competitive positioning.
- Revenue
- $300M
- Customers
- 13K
- Year founded
- 2013
- Funding
- $468.3M
- Team size
- 1K
- Location
- United States
