Investment Rationale · Sapphire Ventures
Investment thesis
Sapphire believed early on that Pendo would become a company of consequence.
Early on, here at Sapphire, we believed that Pendo was going to be a company of consequence.
Why the firm invested
Sapphire backed Pendo by leading the company's Series D round in 2018.
That’s why in 2018, we decided to back Todd and the Pendo team by leading the company’s Series D round.
Product
Pendo provides a product adoption platform designed to improve the user experience of digital products, apps, and services.
At its core, Pendo provides a product adoption platform that improves the user experience with the digital products, apps, and services businesses and consumers use daily.
Traction
Major enterprises including ADP, Cisco, and Salesforce use Pendo daily to inform product decisions and ensure user expectations are met.
Major companies like ADP, Cisco, Salesforce, and many others use Pendo daily to inform product decisions and ensure user expectations are being met.
Team
Pendo was founded in 2013 by former leaders from Rally, Google, Cisco, and Red Hat.
Pendo was founded in 2013 when former leaders from Rally, Google, Cisco, and Red Hat joined forces to build something they wanted, but never had as product managers—an easy way to understand and act on what truly drives product success.
What founders can learn
- What actually moved the decision: Sapphire Ventures wrote that Sapphire backed Pendo by leading the company's Series D round in 2018.
- The traction evidence that carried weight: Sapphire Ventures wrote that Major enterprises including ADP, Cisco, and Salesforce use Pendo daily to inform product decisions and ensure user expectations are met.
- How the team was judged: Sapphire Ventures wrote that Pendo was founded in 2013 by former leaders from Rally, Google, Cisco, and Red Hat.
Source and provenance
Investment Rationale published by Sapphire Ventures on sapphireventures.com (first-party source). Read the original
