We also added a machine learning team in our Israel office.
TODD OLSON PENDO SOFTWARE
We hired a senior vice president of new products earlier this year to focus on a new family of products that help companies drive adoption of the software they provide to their employees, and she’s got an entire team focused on innovation. We’re also focusing as much on R&D as ever. We may also make acquisitions, if the right opportunities come along. We hope to open a Sydney, Australia, office soon. Our Tokyo team is already exceeding their goals, and our London team is working across the Europe, Middle East and Africa region. You’ll definitely see more global expansion. Smaller customers demand a lot from us and supporting them helps keep our product great, which benefits all customers. Over time, we do expect that enterprise revenue will be important to continue driving high growth at scale.
We are a bit unique in that our customer base is still evenly distributed between small, medium and large businesses. I realize the advice to go broad may not work for everyone, but I’m really happy we trusted our gut on that. It also gave us a ton of interesting new use cases, which helped inspire the next set of products we’re building now. But the time we invested to build a truly differentiated product enabled us to touch nearly every industry and size of company in our first eight years. A lot of other entrepreneurs and some investors faulted us for that: they thought we should start narrow first with one core capability or one industry. We set out from the beginning to build a broad platform that could work for any of these companies. What lessons have you learned to address their wide spectrum of services and unique challenges? Pendo’s customers include global industry leaders as well as smaller niche companies. I feel really proud of how the team has managed the last 18 months. We’re all certainly weary of the pandemic, but we’ve also had a lot of excitement as a company. We also raised another round of capital to continue to fuel aggressive growth. In July 2021, we hit a revenue goal set early in the company’s history. We expanded to the Asia-Pacific region with an office in Japan. We have continued to grow, and in the last two quarters of 2021, we have broken records for revenue and customer growth. By summer 2020, we saw demand for Pendo increasing, especially from industries seeing huge spikes of usage as people stayed home - education, banking, telemedicine, video and collaboration software. We took a hard look at our budget and revenue goals for the year and worked closely with customers to be sure they could remain Pendo customers. Those first few months were filled with uncertainty - we made sure our employees felt supported by offering work-from-home stipends, wellness days off and reiterating our flexible work policy as many balanced work and family at home all day. What was 2020 (and 2021 so far) like for your company? We caught up with Todd for his vision of how our digital - and hybrid - lives will continue to evolve. “People have realized the convenience of ordering their groceries, exercising at home, online banking and investing, attending events and classes, collaborating with coworkers and getting work done using Zoom and apps.” “A lot of digital applications were conceived of and launched during the pandemic, and these won’t go away,” says Todd, who graduated from the College of Engineering with a degree in electrical and computer engineering in 1997. With the expansion of remote work and school and safety measures limiting indoor activities, mastering new software or navigating a new online interface for activities like mobile banking is a daily task for pretty much everyone. Pendo, the information technology company Todd co-founded in 2013 and where he serves as CEO, rose to the pandemic’s challenges - helping companies communicate real-time updates to their customers and employees using Pendo's step-by-step guides. I was admittedly a bit surprised that she was so concerned. “One of our investors talked about the serious global threat of the coronavirus. “I will never forget our company kickoff in February 2020,” Todd says.
TODD OLSON PENDO SERIAL
With more than two decades in the tech industry, Carnegie Mellon University alumnus Todd Olson should’ve been more prepared than most for the great virtual migration of 2020.īut even he, a serial coder and tenacious founder, was surprised by the rapid transformation of our lives from in-person to on-screen.
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