Surpasses revenue expectations in first full quarter of operation in the U.K.
SHEFFIELD, England and LONDON, Aug. 27, 2019 /PRNewswire/ -- Pendo.io, the product cloud company, today announced a new address in Sheffield for its EMEA development center and plans to triple its operations in the United Kingdom over the next 18 months. The company also exceeded expectations in its first six months of operation in EMEA, adding 36 new customers and achieving 130% of its revenue goal.
Headquartered in Raleigh, North Carolina, Pendo established the Sheffield development center in May 2019 after it acquired Receptive, a local product demand intelligence platform. The team has since expanded by 50 percent and in July, moved to a newly-renovated facility in the Kelham Island area of Sheffield. Built in 1835 as a steel refinery, the Eagle Works building offers plenty of room for expansion in a thriving area of the city.
Pendo's EMEA headquarters in London—opened in March 2019 to house its sales and marketing operations—also plans to triple headcount by early 2021.
"Our EMEA team is off to a fast start, and we couldn't be prouder," said Todd Olson, co-founder and CEO of Pendo. "There's a clear demand for product analytics, user guidance, feedback and roadmapping tools, and we're bullish about the opportunity ahead for Pendo in Europe and beyond."
Pendo is one of the world's fastest-growing SaaS companies, with a three-year compounded annual growth rate of 226 percent, 1200 customers and 362 employees in six offices around the globe. The Pendo product cloud surfaces insights from usage patterns, user sentiment and feedback so product teams can improve their user experience with smarter product decisions, in-app messages, guides and product walkthroughs.
Today's announcement comes on the heels of its #73 ranking on the Inc. 5000, a prestigious annual list of the fastest-growing private companies in the United States. In a news release, the company also announced highlights from its second quarter, which ended July 31, 2019, including 108 percent bookings growth over the same period of the prior fiscal year, 176 new customers, the largest contract in Pendo history, and plans to draw 1,000 people to its annual Pendomonium conference. Registration is still open.
Pendo is a product cloud that helps digital product teams and application owners deliver software experiences that users love. Pendo customers include the world's leading software companies and digital enterprises, including BMC, Coupa, Okta, Salesforce, Sprinklr and Zendesk. Founded by product people in 2013 in the heart of Raleigh, North Carolina, Pendo is backed by Battery Ventures, Spark Capital, Meritech Capital and Sapphire Ventures. Through its editorial site and community ProductCraft, sponsored events and podcast, Pendo aims to support the success of product people everywhere. For more information, visit: www.pendo.io