North Carolina software improvement startup Pendo recently announced record growth in its second quarter and alluded to more global growth to come.
According to a press release, Pendo achieved record growth in the quarter with $100 million in annual recurring revenue. The release said an increase in revenue from existing customers, an influx of freemium-to-premium conversions and a boost in international business were driving factors in the growth.
"This was a really special quarter for Pendo," Todd Olson, Pendo CEO and co-founder, said in the release. "We set a goal early on to surpass $100 million in ARR, and we achieved that by building great products, hiring amazing people, focusing on customers and anticipating a growing market need across industries for software that makes software better. We especially thank our customers for providing the feedback, ideas and support to help make Pendo a successful company."
195 additional clients joined Pendo this quarter, as reported by the press release. These clients included Gett, Lendio, Bombora, Cardlytics, TaxBit, Photobucket, WatchGuard Technologies, MessageBird, Paylocity, PRO Unlimited, Duck Creek Technologies and the United States Golf Association.
The company's second quarter for the year ended on July 31. One notable development in the quarter was the launch of the Engage family of products. Pendo also created a second product family, Adopt, which fittingly helps companies and their employees adopt new software.
The quarter also included new investor participation with series F funding and being included on the Forbes 2021 Cloud 100 list for the fourth consecutive year with a #59 ranking, according to the press release.
Headquartered in Raleigh, North Carolina, the company employs 700 people across the globe and recently expanded into the Japanese market, which powered much of Pendo's growth this quarter, according to the press release.
Notable Pendo customers include Verizon, RE/MAX, LabCorp, OpenTable, Okta, Salesforce and Zendesk.
Another highlight for Pendo is their Oct. 13 event "Pendomonium" in Raleigh, where they will showcase their products. Registration is now open.