Pendo, the US-based creator of a platform for software product development, secured $20m yesterday in a series B round featuring Salesforce Ventures, the corporate venture capital arm of enterprise software provider Salesforce.com.
The round was led by venture capital firm Spark Capital and included Battery Ventures, Contour Venture Partners, Core Capital Partners and Idea Fund Partners.
Pendo has built a platform that helps software teams gain more thorough insight into their products and improve their functionality. The technology allows developers to analyse user behaviour and give contextual help.
Todd Olson, chief executive of Pendo, said: “There is no reason software can’t be at least as easy to use as consumer products. When a company truly understands its users, they can personalise and adapt the experience inside their product to make their users more productive.
“Pendo exists to help companies create software that is able to make every individual user successful, and while proud of our growth to this point, we feel we’re in the early innings of the potential ahead.”
The company has now raised approximately $33m in debt and equity since it was founded in 2013. Salesforce Ventures took part in its $11m series A round in October 2015 alongside Battery Ventures, Contour Venture Partners, Core Capital Partners and Idea Fund.