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North Carolina’s Newest Unicorn: Pendo Raises $100M Series E

Raleigh, North Carolina-based startup Pendo has raised a $100 million in a Series E round that gives the company unicorn status.

The round brings Pendo’s total venture funding to $206 million since its inception in 2013, according to its Crunchbase profile.

How often do people use software that is frustrating, confusing or can’t find what you’re looking for?” CEO and co-founder Todd Olson asked me when we talked at the time of Pendo’s 2018 raise.

“A lot of companies are focused on sales or marketing but very few are focused on product,” Olson told me last year.

Pendo says it will use the new capital “to accelerate global expansion through sales and marketing investments, and [accelerate] product development through engineering investments and acquisitions.”

Disclosure: Salesforce Ventures, an investor in Pendo, is also an investor in Crunchbase, the parent company of Crunchbase News.

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