Web App Development Startup Pendo Raises $100 Million

Web application development startup Pendo.io Inc. has raised a $100 million series E round according to a $1 million valuation, bringing its total funding to date to $206 million, the company announced Thursday. The round was led by Sapphire Ventures, with participation from new investors General Atlantic and Tiger Global and existing investors Battery Ventures, Meritech Capital, FirstMark, Geodesic Capital, and Cross Creek.

Founded in 2013 in Raleigh, North Carolina by a team of former Google, Cisco Systems, Red Hat Inc., and Rally Software Development Corp. executives, Pendo develops cloud-based user data analysis tools that help companies analyze customer interaction with their online products. The company first entered Israel in 2017 when it acquired mobile engagement company Insert Mobile Technologies Ltd., co-founded by Pendo’s former vice president of engineering and former Israel site manager Yaron Goldberg. In January, Goldberg told Calcalist that the company is expanding its Israeli operations.

Yaron Goldberga, vice president of engineering and the Israel site manager for Pendo