Who is Pendo?

When it comes to startups, “unicorns” are the cream of the crop. Startups that earn this title have reached a valuation of at least one billion dollars.

Yes, Pendo is one of those elite few that can proudly wear the unicorn badge. That wasn’t the case in 2013, when the software firm first began operating out of a small office in HQ Raleigh, a coworking space in the Warehouse District. From humble beginnings to a billion-dollar operation running from multiple locations, Pendo is a success story that at first glance, seems kind of like a fairy tale.

Pendo started out with just five employees, lead by CEO Todd Olson. Initially, Olson had considered beginning his startup with headquarters in San Francisco, as a means of optics for investors, but opted instead for North Carolina roots.

The goal of the small startup was simple; to use behavioral analytics to assist businesses in improving their websites and offerings. The company’s software includes the capability for businesses to communicate any new features. As its popularity and reputation have grown, companies with the desire to optimize their digital presence have turned to Pendo for assistance.

Big-name clients such as Verizon, LabCorp, RE/MAX, Zendesk, Mercury Insurance, Metlife, and Bright Horizons have jumped on board the Pendo wagon, using the innovative software to better their digital game. The influx of large clients set Pendo on the path towards unicorn status, in an area where unicorn startups are relatively hard to find. Joining along with a handful of other billion-dollar startups, Pendo is transitioning from startup to public company, with a seemingly straight path to profitability.

What Do They Do?

North Carolina-based company, Pendo, is a product-analytics app that is seamlessly crafted to help software companies develop products that resonate with customers. With the Pendo app, software makers are able to embed a wide range of tools in their products in order to create a better product experience for their users, as well as new insights for the product team.

With step-by-step guides, Pendo assists companies in the mastery of new software packages. The Pendo software provides personal training and support in order to boost the proficiency of employees, which has been invaluable during the COVID-19 pandemic as the majority of companies transitioned into a partially remote workforce.

As society has shifted, the digital experience has come to be expected not only by customers but by employees as well. Pendo offers the perfect answer to the demands of consumers and the workforce, providing the freedom to streamline, digitize, and meet the needs of an increasingly online world.

The Pendo process is unique in that it’s not solely serving the consumer market, but is instead selling its products to other businesses. As consumers demand more from an online banking app, for example, Pendo provides the bank the ability to customize that user experience and get detailed user feedback.

From banks to schools and educational software, Pendo provides solutions through guides that automate software learning and mastery. They offer the answer to the abundant digital needs of consumers and businesses worldwide, as the digital transition continues on at an incredible rate.

What is Their Impact?

Pendo’s home base of North Carolina is continually becoming a better area for driving innovation and startups. As one of the few unicorns in North Carolina, Pendo has seemingly given another great boost to the business culture of our state.

North Carolina is now more than ever perceived as one of the top options for startups seeking a home. With Pendo as a driving force, North Carolina is ready for the influx of a young, thriving business community.

There are a number of reasons that made the state appealing to Pendo from the very beginning. Businesses just starting out, cut from the same passionate, entrepreneurial cloth, will see North Carolina as the perfect backdrop to an effective startup.

North Carolina has an easy-going, dedicated, hard-working spirit flowing through it. The options for a diverse and enjoyable work-life balance still exist in the state, while they have begun to disappear in many other locations across the country. North Carolina provides affordability, which is another necessity for startups. The living and business costs enable startups to attract top talent to embark on their business journey.

Why It Matters in ILM

In a time when technology is constantly evolving and creativity is key for success, Wilmington, North Carolina is preparing to become a hub of progress and innovation. Raleigh’s success story, Pendo, merely set the stage for what is to come in this area.

When Pendo began in HQ Raleigh, with five people crowded into a tiny office, they only dreamed of having 2,000 customers, top investors, financial backing, and hundreds of employees. They were merely a few people with a vision in North Carolina. As Pendo continues to grow, the company continues to spark life into the community and represents the potential of every startup in Wilmington and beyond.

Even though the future of your business may look a lot different than Pendo’s, we all can learn from some of the best practices they employed on their journey to the top. One of those practices they put to work was the use of a coworking space to get their idea off of the ground.

Even though a coworking space may not instantly make a difference in the trajectory of your organization, the benefits that come with one may certainly begin the process. This is especially true when you consider the culture and benefits of a place like Blue Mind Coworking.

Not only do we strive to provide our members with the best amenities available, but we’re constantly doing our best to maintain an amazing culture of creativity and encouragement. The beginning phases of a business can sometimes feel a lot like a roller coaster, but joining a place like Blue Mind can give you the consistent space you need to stay on course and continue your journey to the top.

If you’re interested in learning more about the details of our space, click here. We’d love to chat with you if you have any questions!