Pendo's second acquisition in two years brings demand intelligence to the product cloud, making Pendo the only comprehensive platform for digital product teams and product-led organizations
RALEIGH, North Carolina, and SHEFFIELD, United Kingdom, May 7, 2019 /PRNewswire/ -- Pendo, the product cloud company, today announced that it has acquired Receptive Software Limited, a privately-held SaaS company based in Sheffield, U.K. Founded in 2015, Receptive is the market-leading product demand intelligence platform that helps B2B product managers and customer success teams to capture, prioritize, and report on customer feedback and feature requests, and communicate product roadmaps to multiple stakeholders. Combined, Pendo and Receptive offer the most complete integrated platform unifying the tools product-led organizations need to make better product decisions, communicate product direction, and deliver better product experiences.
"Receptive is a perfect complement to our vision and our company culture," said Todd Olson, co-founder and CEO of Pendo. "By adding demand intelligence to the Pendo product cloud, product-led organizations will have a 360 degree view of the user, the account, and the revenue impact of product decisions. This is a game-changer for product teams."
Product teams make decisions based on a combination of qualitative and quantitative data, combining insights about feature adoption and user journeys with customer feedback and sentiment. Receptive builds upon Pendo's strength in understanding user journeys and sentiment and its guided engagement tools, with a strong qualitative foundation, including:
- Feature requests and feedback: Capture feedback and feature requests from internal and external stakeholders, including customers, prospects, sales, and customer success.
- Demand planning: Segment and analyze feature requests and customer feedback, prioritizing product investments to maximize revenue impact for the business.
- Customizable product roadmaps: Roll up product priorities and publish and manage visual roadmaps tailored to the right detail for customers, prospects, and employees.
Pendo's acquisition of Receptive advances Pendo's product cloud vision with one system of record that reveals what users do, what they say, and what they want, all within one platform. Digital product teams can use this insight for data-informed product planning, prioritization of engineering investments and UX improvements, and personalization of the product experience. This allows product teams to both prioritize product demand from customers, while also understanding the user and business impact of product investments after features are released.
"Using both Pendo and Receptive, we've completely transformed the way we interact and engage with customers around our product," says Brian Biddulph-Krentar, CEO of Magnus Health, which provides electronic student health record solution to K-12 schools and colleges. "Combined, these two companies have offered our product team a complete solution for understanding, guiding and engaging with customers."
This is the role of the product cloud--one unified platform that integrates all the tools product teams need to make better product decisions, to plan, prioritize and communicate product investments, and to understand and guide users inside the product.
Pendo conducted a comprehensive review of other tools in the market, selecting Receptive based on the innovativeness and design of the product and the culture fit of the Receptive team.
"Pendo and Receptive have a rare and powerful vision match where qualitative feedback meets quantitative analytics for unprecedented insight into product impact and customer success," said Hannah Chaplin, co-founder and CEO of Receptive.io. "We couldn't be more excited about the opportunity to help bring to life such a big, bold vision for product-led organizations."
Pendo will expand Receptive's Sheffield, U.K. headquarters, designating it as its European development center, and growing Pendo's U.K. presence beyond its recently launched London office. The Receptive acquisition follows Pendo's September 2017 acquisition of Israel-based Insert.io. Pendo's development center in Herzliya, Israel now employs nearly 40 people.
Receptive will initially operate as a separate line of business, and both Pendo and Receptive products will be offered as part of standalone and integrated packages.
The acquisition closed on April 30, 2019. Financial terms were not disclosed.
Pendo is a product cloud that provides user insight, user guidance, and user communication for digital product teams and application owners. With Pendo, these product teams can understand product usage, collect feedback, measure NPS, onboard users, and announce new features in app—all without requiring engineering resources. Founded in 2013 in the heart of Raleigh and backed by Battery Ventures, Spark Capital, Meritech Capital, and Sapphire Ventures, Pendo has raised $106 million and counts 1000 customers, including Zendesk, Salesforce, Okta, Coupa, Marketo, BMC, and Sprinklr. Pendo is also the producer of ProductCraft, a destination editorial site with insights by and for product leaders; and Pendomonium, a premier product conference. For more information, visit: www.pendo.io
Receptive is the leader in product demand intelligence. The company enables software organizations to collect prioritized product feedback from customers, teams, and the market.
With Receptive, software teams can act strategically, know they are working on the right product improvements, become truly data-informed, and close the feedback loop to give customers the experience they deserve. Headquartered in Sheffield, UK, Receptive customers include Okta, Socrata, AgoraPulse, Magnus Health, and many other leading B2B SaaS companies who are using product feedback to build truly product-led organizations.