News announces Series E funding

October 17, 2019Client News

Gunderson Dettmer client and North Carolina-based product cloud company Pendo has raised $100 million in a Series E financing. The funding round was led by Sapphire Ventures with participation from General Atlantic, Tiger Global, Battery Ventures, Meritech Capital, FirstMark, Geodesic Capital and Cross Creek. The company’s valuation is now $1 billion.

In the announcement of the funding Rajeev Dham, managing director of Sapphire Ventures and Pendo board member, said “As our global economy continues to transform digitally, product led companies have a clear strategic advantage. Over the last few years, software for product teams has emerged as an important new category, and Pendo as a clear leader. Pendo’s business fundamentals, growth, product suite and incredible leadership team have set the company up to be a leading SaaS business for years to come.”

The Gunderson Dettmer deal team was led by Michael Hacker and included Jay Hachigian, Laura Stoffel and Chris Crawford.