Raleigh unicorn Pendo highlights record quarter, notes continued growth

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Pendo, which recently raised $150 million in a Series F round that valued the company at approximately $2.6 billion, added 195 additional customers in the second quarter and achieved $100 million in annual recurring revenue, the company formally announced in a statement this week.

Pendo that it now has more than 700 employees globally, with “female representation climbing to 42% and racial/ethnic representation jumping to 21%.”

Pendo told WRAL TechWire earlier this year that it planned to hire 400 new employees.  According to the company, 300 employees have been hired in the first half of its fiscal year.

Some of the growth came from an expansion into Japan, Pendo noted in the statement.  But growth also came from increased revenue from existing customers and what the company deemed “an influx of freemium-to-premium conversions,” noting the company now has more than 1,500 customers using a free version.

Pendo, which ranked 571st on this year’s Inc. 5000 list of fastest-growing companies for a growth rate of 846%, ranked 26th with a growth rate of 8,901% on the 2020 Inc. 5000 list.

The company received other awards during its second quarter, which ended on July 31, 2021, the company said.

That includes a ranking of 59th on the Forbes 2021 Cloud 100, which ranks the top 100 cloud companies in the world.  The company was also included on a list of Best CEOs for Diversity and Best CEOs for Women list by Comparably.

Original Source: WRAL TechWire