Pendo Sees Major Customer Expansion in Third Quarter as Companies Turn to their Products to Drive Efficient Growth

Introduces new product features and offerings to help companies leverage product-led growth strategies.

Pendo, the most comprehensive product experience platform, announced highlights from its third quarter, which ended October 31, 2022. Notable milestones include record attendance for its Pendomonium conference, strong interest in Pendo’s Product-Led Certification course, the launch of powerful new analytics, in-app guidance and machine learning features, and continued customer and revenue growth. More than 7,000 companies now use Pendo to provide better software experiences to 600 million people every month.

“We’re in the middle of a decades-long digital acceleration. We’re seeing more companies leverage their digital products to become more efficient, especially in the current economic conditions,” said Todd Olson, CEO and co-founder of Pendo. “The most impactful and cost-effective time to engage your customers is while they’re using your product. This has always been the case, but it’s more true now than ever.”

Marketing Technology News: MarTech Interview with Bogdan Carlescu, VP of Marketing at Creatopy

Highlights of the quarter include:

Revenue and customer growth: Pendo’s growth in Q3 was driven by existing customer expansion, free-to-paid conversions, and continued momentum in the Asia-Pacific region. New customers include Airspace, Applied Systems, BombBomb, Infragistics, National Grid, OfficeAlly, SentriLock, TextUs, Yellow Corporation, and many more. New Asia-Pacific customers include Australian Doctor Group, hipages Group, and simPRO of Australia, and Tokyu Community Corp. and freee K.K. of Japan.

Customers that expanded their relationships with Pendo include AppsFlyer, Clarivate Analytics, PointClickCare Technologies, and Servus Credit Union.

Community: Pendo’s flagship annual Pendomonium event drew more than 1,000 product and IT leaders together in Raleigh to explore the theme “The Product-Led Experience” in a lively festival setting. Pendo will also host the second annual Pendomonium EMEA today in London, with attendance expected to triple the 2021 event. Mind the Product’s annual conference, #MTPCon, also returned to London for the first time since 2019, bringing together more than 1,800 product people representing 46 countries and 470 companies for a series of talks by industry thought leaders.

Product-led leadership: Pendo continues to drive the product-led movement forward, with strong early interest for its Product-Led Certification course that teaches product managers and business leaders how to apply product-led strategies to drive growth. Launched at the end of second quarter, the course has received more than 17,000 registrants with thousands of certifications completed.

Pendo Adopt momentum: Pendo was named a leader in The Forrester New Wave™: Digital Adoption Platforms, Q4 2022 report, an inaugural evaluation by Forrester of the emerging market for digital adoption platforms. The recognition comes on the heels of Pendo’s placement as a Strong Contender in the 2022 Everest PEAK Matrix for Digital Adoption. Pendo earned both accolades within one year of the launch of Pendo Adopt, a suite of solutions that allow companies to create a digital workplace experience that empowers employees to achieve desired business outcomes. Pendo Adopt is also now available on  the Salesforce AppExchange Marketplace.

Data Privacy: Pendo also announced The Pendo Employee Data Privacy Pledge, a commitment to standards of transparency and privacy around the usage data Pendo Adopt collects to help customers increase employee productivity.

Marketing Technology News: Privacy Regulation Calls for Industry Collaboration and Establishing Standards

Product enhancements:

• Pendo Engage: A new and improved Data Explorer gives customers more power over their product data analysis. Guide Orchestration enables product teams to manage their full in-app communication strategy across applications. Nested Segments save customers time by enabling them to include or exclude sets of users or accounts for in-app guide targeting, and share knowledge about commonly-used segments with others on their teams without leaving Pendo.
• Pendo Adopt: SaaS Portfolio Insights give customers a view of product usage data across any application they provide to their employees, enabling them to filter by office, team, or role. Cross-App Workflows and Guides allow companies to understand how employees complete work across multiple software applications and then create and deploy step-by-step walkthrough guides to increase process compliance. Additionally, with Guide Impact, customers can target guides based on process and workflow adoption, and visualize and track how a guide impacts process adoption over time.
• Pendo Simon: Powered by Pendo Simon, Pendo’s machine learning capability, NPS Insights applies machine learning to NPS survey responses to automatically identify themes in troves of data, which help to inform product strategy.

Executive appointment: Pendo added several new executives during the quarter, including Chief Legal Officer Bret DiMarco, who most recently served as executive vice president, chief legal officer and corporate secretary for Coherent, Inc.

Awards: Pendo earned recognition as a winner in the user adoption category of the 2022 Proddy Awards. The company was named a top tool for product managers in the Product Marketing Alliance Awards. Pendo also won a Triangle Business Journal Fast 50 Award and earned a spot on three Comparably lists: Best Company Perks and Benefits, Best Company Compensation, and Best Company Happiness.