IFP Portfolio Company Pendo recently closed an $11 million Series A, one of the largest in recent NC VC tech history. Investors in the round included Salesforce and Battery Ventures.
Pendo CEO Todd Olson has been an active entrepreneur for years, starting his first company in the late 1990s while a student at Carnegie Mellon and raising $17 million for its development. His next company, 6th Sense Analytics, was sold to Rally Software in 2008. After a few years with Rally, Olson left his position as VP of Products following the company’s 2013 IPO.
Since then, he’s spent his time starting Pendo. In just a few years, the company has grown its SaaS customer base to over 60. And since January 2014, revenue has been increasing by 30% per month. When asked, IFP Managing Partner Lister Delgado commented “Rarely do you see a team of people who have done this before and know what they need to do (…). This is one of the best companies in the Triangle.”
Read the full story from ExitEvent