Pendo Raises $150M Series F Financing

July 27, 2021Client News

Gunderson Dettmer represented client Pendo, a platform that accelerates successful product adoption, in its $150 million Series F financing led by B Capital Group. The new funding brings the company’s valuation to $2.6 billion.

In the announcement of the transaction, CEO and co-founder of Pendo Todd Olson said, "The wholesale shift to digital has exposed a gap between user expectations and reality—workers expect business software to be as easy to use as their personal apps, but when was the last time someone called a helpdesk for Instagram? We built Pendo to bridge this experience gap, which is why our growth has paralleled software itself. This new investment allows us to innovate faster to serve product teams and their counterparts in IT, who are responsible for driving successful software adoption."

The Gunderson deal team included Jay Hachigian, Michael Hacker, Laura Stoffel and Aditya Perakath.