CED Tech Venture profile: Pendo, utilizing analytics, more to improve software products

Helping make sure that software developers create products that meet customer expectations for value is the business of Raleigh startup Pendo.

And the company is growing, having quadrupled revenues over the past year.

“We are operating in a large market–nearly everyone building software can use us,” says CEO Todd Olson.

It’s among the 90-some entrepreneurial companies presenting at CED Tech Venture.

Here’s a Q&A of Pendo, the 29th in a series of profiles presented in partnership between WRAL TechWire and the CED.

What is the focus of your business?

We help companies improve the experience of their software products.

What is the top pain point/business application you are seeking to address?

Software has become complex and that complexity often affects customers’ ability to receive value. If customers don’t get value, then they are more likely to stop using a software product.

Our goal is to assist software products in making their customers successful thus increasing the likelihood of retaining the customer.

What makes it unique?

We have combined deep analytics on user behavior with an enterprise in-application messaging framework. We’re the first to combine the two into a single solution.

Why should investors be interested in your firm?

I think we have a good well-rounded story. We have a very experienced team in our market with many of us having lived this problem and grown companies from early stages through to IPOs. We are operating in a large market–nearly everyone building software can use us.

And we’re executing well. We’ve quadrupled our revenue in the last year.

Business facts: