Pendo Adds Record Number of $100K+ Customers in Second Quarter, Launches Certification Course to Help Companies Embrace Product-Led Strategy
Pendo, the most comprehensive product experience platform, announced highlights from its second quarter, which ended July 31, 2022. Notable milestones include the launch of a new roadmapping product and powerful features in Pendo Adopt, early momentum for Pendo’s Product-Led Certification course and continued customer and revenue growth. Pendo now counts more than 2,600 paying customers, and more than 4,000 companies with Pendo Free accounts.
“We’re seeing more companies than ever use Pendo to help drive efficient growth,” said Todd Olson, CEO and co-founder of Pendo. “We’re working hard at continuing to make enhancements and updates to our products, to launch new content and training offerings, and expand our global footprint to help those companies leverage product-led strategy to become more efficient businesses while delivering the best product experiences.”
Highlights of the quarter include:
Revenue and customer growth: Pendo’s growth in Q2 was driven by a record number of new six-figure deals, existing customer expansion, and higher-than-expected sales in Japan and Australia. The company also landed its first new customer paying more than $1 million. New customers include Level Access, Avison Young, WEX, Clipper Magazine, Registrar Corp., Australia-based Auror, and Chatwork of Japan; Japanese company NEC signed on as a reseller. Customers that expanded their relationships with Pendo include Varsity Tutors, ZoomInfo, Carnegie Learning, and WPP.
Product-led Certification: A new certification course, produced in partnership with Mind the Product, teaches product managers and business leaders how to apply product-led strategies to drive growth and elevate their careers and organizations. Those who complete the three-hour course and exam earn a “Product-led Certified” badge for their professional profile. In its first week, more than 3,500 people started the course.
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- Cross-App Guides in Pendo Adopt: New capabilities help companies create and deploy step-by-step walkthrough guides across the multiple software applications that their employees use to do their jobs. Using powerful usage data, Pendo Adopt users can understand engagement with each guide, pinpoint where employees are getting stuck, and then deliver guides to drive the desired employee behavior and business outcomes.
- A new roadmapping experience: The new Pendo Roadmapping empowers product teams to combine customer feedback and market data to guide what they build next, and then communicate those plans to both internal stakeholders and customers. Pendo users can map their customer feedback requests to planned features and initiatives to show exactly how much revenue and input supports their roadmap decisions.
- New features in Data Explorer: Enhancements to Data Explorer give customers more power over their product data analysis, enabling them to compare and analyze an unlimited number of events to better understand the most and least used features. With additional data about devices in Data Explorer, customers can also gain insight into which devices, browsers, and operating systems their customers are using, and make better decisions about where to prioritize development efforts.
Pendomonium: Pendo’s flagship annual event will be held live and in-person, on September 12-14, in Raleigh, NC. This year’s product festival, with the theme of Product-Led Experience, provides an audience of product and digital leaders memorable experiences, new connections, and thought leadership and inspiration for their work. Headliners include Theoretical Physicist Dr. Michio Kaku and Writer Sophia Chang, and a product-inspired performance by improvisational hip-hop comedy group, Freestyle Love Supreme, involving the audience. Registration is now open.
Global momentum: A new central London office and EMEA managing director enable Pendo to meet rising local demand and empower European businesses to put product at the heart of their strategy. Pendo also held its first flagship event in Japan, the Digital Adoption Forum, drawing more than 1,200 people from Japan’s top enterprise and startup companies. Speakers included executives from leading tech companies including Chatwork, Yappli, and Kokopelli.
Headcount: Pendo added several new executives during the quarter, including: Spencer Earp, managing director, EMEA, and Yezi Peng, vice president, revenue operations. Additionally, Sarah Collin was promoted to managing director, Australia, Bryon Coro to senior vice president, go-to-market operations, and Tiffany Chin to vice president, design.
Awards: Pendo made the Forbes Cloud 100 for the fifth year in a row and the Inc. 5000 for a fourth consecutive year. Pendo also earned placement on the following lists: The Triangle Business Journal’s Best Places to Work, The Software Report’s Top 100 Software Companies, and Best Leadership Teams by Comparably. Additionally, Olson was named a winner of the 2022 EY Entrepreneur of the Year for the Southeast, as well as a Top Power Player by Business North Carolina Magazine.
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