The Next Chapter
December 12, 2016
Today we are announcing our $20M Series B financing led by Spark Capital. We’re extremely excited about this financing as it comes just over a year after our Series A and it puts us in a strong position heading into 2017. We recently celebrated our company’s 3rd birthday, and I could not be more proud of our team for their accomplishments. We now have over 200 customers. We’ve grown our revenue over 400%. We capture over 6 billion events a month, yet we have 99.999% availability.
I am most proud of our customer focus. Our positive customer references were key to Battery’s investment in our Series A. Now, our customer’s enthusiasm have helped us attract Spark in our Series B. Customer focus is not something we do to raise money – it’s a Core Value and key to who we are. We’re led here by an exceptional Customer Success team, but our secret is – it is not just the Customer Success team that focuses on customers, Customer Success is owned by the entire organization.
Software is a people business, and I couldn’t be happier to add Megan Quinn to our team. Megan has a background as a product manager and has lived the problems that inspired me to start Pendo. She has deep empathy for what we’re building and will bring that perspective as she joins our board and advises our company. Moreover, her experience with consumer-oriented technology companies will bring that design-forward perspective that we’re hoping not only will influence our product but will also influence our customers’ products.
So What’s Next?
The most common question I get in interviews and in general is “where do you see the company in a year or a few years?” Unfortunately, I don’t have a fancy answer around developing a visionary new product or hiring for a critical role or landing some exceptional customer. There’s no one customer, hire, or product feature that’s going to change our company. We value each and every customer. Every new team member contributes and is critical to our success. We continuously innovate on our product, and sometimes that even means removing features or improving quality instead of simply adding new functionality.
Our vision is to improve society’s experiences with software. Like other company’s visions, this is aspirational and neverending, so in a few years we’ll still be doing what we do now – perhaps on a larger scale. The key to our success and our ability to deliver on this vision will be continuing to live our Core Values (post coming soon) as we scale.
On a personal note, this financing will be very memorable for me. My wife gave birth to a healthy baby boy in November, during this multi-week process. During this time, our current board members and leadership team encouraged and supported me adjusting our timing to accommodate this exciting life event. “Promote Life Outside Work” is a Pendo core value, and I’m appreciative that my team supported me in living that value.
If you’re interested in joining our growing team, check out our open positions to find where you fit in.