The news came less than four months after Pendo. He announced a $ 150 million grant Estimated at $ 2.6 billion, however, this latest investment does not see Pendo receive any extra money – it includes what is known as secondary investment, which means Thomas Bravo bought existing shares from employees and other primary investors.
Pendo offers a variety of products designed to help users of their own software products – such as Okta, Salesforce and Zendesk – this is probably for On new customers By providing in-app guidance and support, or Improving adoption among employees Helpful questions, trainings and contextual overlays in one company. On top of that, Pendo Provides analytics To show people how to use and participate in the products.
Thomas Bravo has a good track record not only in investing in companies but also in getting them right – he spent more than $ 20 billion last year as a company. Network Security Company Proofpoint And Real Estate Software and Data Analysis Company Realpage.
It is not clear whether this latest agreement represents a minority or a majority of the investment, but it will serve to highlight the growing need for product analysis and adoption tools at a time when each company is effectively a software company. Getting new customers and users on board – and staying there – is important in a landscape of growing competition, where Pendo and the like are thriving.
“Digital Transformation is growing in all industries, so efficient and easy-to-use software business is essential,” said Thomas Bravo’s partner Robert (Tray). “Pendo is a clear and proven leader in addressing the growing market demand with excellent software experiences.”
They include other popular players in the space WalkMe And What to fix., The latter is closed $ 90 million round of funding Just a few months ago, while Reprise raised $ 62 million for a forum this week Helps companies showcase their products in interactive displays.
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