Last 12 months product analytics and digital adoption platform Pendo pulled in $110 million funding from non-public fairness agency Thoma Bravo, and that was not lengthy after a $150 million tranche of funding. So the firm — which permits firms like Okta, Salesforce and Zendesk to onboard new prospects or get staff to undertake new software program, in addition to revealing analytics on that uptake — has been ready to scale up its advertising for some time.
It’s now taking that to the subsequent degree with the acquisition of Mind the Product — a platform that many outdoors observers would name the key community of product managers — which dovetails properly with Pendo’s mission. Terms of the deal weren’t disclosed.
Starting in 2010 from London as a global meetup-style community with ProductTank (launched, sometimes, in a pub), Mind the Product has morphed right into a community that gives content material, coaching and conferences that claims to contact greater than 300,000 product managers, designers and builders by way of seminars, newsletters, a Slack community and ProductTank meetups in additional than 200 global cities.
James Mayes, CEO and co-founder of Mind the Product, stated: “This is a tremendous day for our community of product managers around the world. By joining Pendo, we can execute on today’s mission and think even bigger about how we will support, educate and train product teams in the future.”
The full-time staff of almost 20 individuals will now be a part of Pendo however retain its branding to handle its conferences, content material, occasions and meetups, and to proceed its vendor-neutral workshops and coaching.
Todd Olson, CEO, and co-founder of Pendo stated: “Pendo has always made it part of our mission to elevate the craft of product management and to help product managers be better at what they do. We’re really excited to join forces with some of our earliest influencers, and offer substantially more education and resources to the global product management community for years to come.”
Mind the Product is Pendo’s third worldwide acquisition in 5 years, because it beforehand acquired Insert, a cellular app engagement answer based mostly in Israel, and, in 2019, Receptive Software, a U.Ok.-based product demand intelligence platform.
In a telephone name interview with TechCrunch, Olson stated: “We’ve been around since 2013. We have always focused on building product and supporting the product management community. So that’s part of what led us to this arrangement — but we’ve been selling the product and working with product managers since our inception. I was a head of product at SAAS company as well. So I am personally been very passionate about the product community in my professional career.”
“Since the very beginning of Pendo, in order for us to really achieve our mission, we needed to help elevate the craft of product management. The more there are great product managers the more that will ultimately benefit Pendo — maybe not immediately, but certainly in the arc of our company. That’s why Mind The Product fits so well with us,” he stated.
Mayes added: “We’ve known Pendo pretty much since inception, as one of the sponsors that we have worked with over that time. One of the things that was really exciting about this deal was that Pendo was insistent that they wanted Mind the Product, as a conference, to remain open to other vendors. So Pendo will continue to run the ‘Pandemonium’ event, which is essentially a user conference, whereas the Mind the Product will always welcome vendors of all stripes who have an interest in the product craft.”
Pendo now has over 160 individuals throughout the U.Ok., Israel, Japan and Australia.