Companies · Software / Tech

Pendo.io, Inc.

RALEIGH · Software / Tech · refined from filed group “Other

Diligence memoA one-page analyst read on Pendo.io, Inc. — recommendation, valuation, rhythm, risks.
$368.3M
Total raised · real
9
Rounds
0.1×
Latest step-up
Top 2%
Sector rank · raised
Series D+
Latest stage · inferred · Wed Jul 31 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

Pendo.io, Inc. looks under-valued against its niche peers and is quiet on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the technology sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Under-valued
  • Modeled value is 0.05× the median modeled value of Series D+ Software / Tech companies in 2022–2024 (29 peers) — value vs value, same stage and era.
Quiet
  • Last raise 23 mo ago; this sector typically re-raises about every 13 months.
  • Slightly overdue versus sector cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Software / Tech

Pendo.io, Inc. is one of 3920 Software / Tech companies tracked from RALEIGH. By capital raised it ranks among the largest (ahead of 99% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
32
Investors (latest)
2024-07-31
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$1.3B$2.5B$3.8B$5.0BPre-Seed · 2013-12-23 Raised $900K (real) Modeled valuation $38M (est)Pre-Seed2013Seed · 2015-03-02 Raised $1.3M (real) Modeled valuation $43M (est)Seed2015Series A · 2015-10-01 Raised $11M (real) Modeled valuation $312M (est)Series A2015Series B · 2016-12-07 Raised $20M (real) Modeled valuation $609M (est)Series B2016Series B · 2017-07-06 Raised $25M (real) Modeled valuation $761M (est)Series B2017Series C · 2018-08-30 Raised $50M (real) Modeled valuation $1.6B (est)Series C2018Series D+ · 2019-10-08 Raised $100M (real) Modeled valuation $3.2B (est)Series D+2019Series D+ · 2021-07-15 Raised $150M (real) Modeled valuation $3.7B (est)Series D+2021Series D+ · 2024-07-31 Raised $9.9M (real) Modeled valuation $112M (est)Series D+2024+$1.3M+$11M+$20M+$25M+$50M+$100M+$150M+$9.9MCumulative $368M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Pre-Seed$900K · 2013
Seed$1.3M · 2015
Series A$11.3M · 2015
Series B$20.0M · 2016
Series B extension$25.0M · 2017
Series C$50.0M · 2018
Series D+$100.0M · 2019
Series D+ extension$150.0M · 2021
Series D+ extension$9.9M · 2024

Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.

Modeled valuation trajectory
$111.8M
Base estimate est.
$55.0M
Conservative case
$153.8M
Upside case
$82.6M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $38.1M · 2013-12-232013Seed · modeled $42.6M · 2015-03-02Series A · modeled $312.5M · 2015-10-01Series B · modeled $609.1M · 2016-12-07Series B · modeled $761.4M · 2017-07-06Series C · modeled $1.6B · 2018-08-30Series D+ · modeled $3.2B · 2019-10-08Series D+ · modeled $3.7B · 2021-07-15Series D+ · modeled $111.8M · 2024-07-312024
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
83%
Survival probability
67% low · 92% high
1.29×/yr
Annual markup
1.44×/yr upside case
1.9 yr
Elapsed time used
1.9 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
16 mo
Avg between rounds
$34.7M/yr
Capital velocity
12.5 yr
On record since
2013
First round
9
Rounds on file
How it compares to the market

Benchmarked against 3920 companies in Software / Tech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 80× above median
This company$368.3M
Sector median$4.6M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 0.1× of median
This company$9.9M
Sector median$150.0M
Modeled value — vs sector median (estimate, all stages) 3.1× above median
This company$111.8M
Sector median$36.6M

Raised more than 99% of sector peers (real $). Modeled value above 74% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #29 of 29.

This companyCohort peer
$10.0M$100.0M$1.0B$10.0B$100.0B$100.0M$1.0BCapital raised (log)Uniphore Technologies Inc. · Series D+ Raised $594.9M · modeled $7.7B (est)Capital Integration Systems LLC · Series D+ Raised $392.9M · modeled $7.3B (est)Remote Technology, Inc. · Series D+ Raised $310.1M · modeled $6.2B (est)Starburst Data, Inc. · Series D+ Raised $250.0M · modeled $5.3B (est)Aleo Systems Inc. · Series D+ Raised $221.2M · modeled $4.2B (est)Matter Labs · Series D+ Raised $252.0M · modeled $3.5B (est)Material Technologies Corp · Series D+ Raised $221.5M · modeled $3.4B (est)Mammoth Admin & Tech, LLC · Series D+ Raised $270.0M · modeled $3.4B (est)R Software Inc. · Series D+ Raised $242.0M · modeled $3.0B (est)Renew Tech One Ltd · Series D+ Raised $200.0M · modeled $2.7B (est)Monad Labs, Inc. · Series D+ Raised $258.4M · modeled $2.7B (est)Altana Technologies, Inc. · Series D+ Raised $344.1M · modeled $2.5B (est)Pendo.io, Inc. (this company) Raised $368.3M · modeled $111.8M (est)Pendo.io, Inc.
CompanyStageRaised · realValue · estvs peer med.
Uniphore Technologies Inc.Series D+$594.9M$7.7B3.56×
Capital Integration Systems LLCSeries D+$392.9M$7.3B3.36×
Remote Technology, Inc.Series D+$310.1M$6.2B2.83×
Starburst Data, Inc.Series D+$250.0M$5.3B2.43×
Aleo Systems Inc.Series D+$221.2M$4.2B1.93×
Matter LabsSeries D+$252.0M$3.5B1.61×
Material Technologies CorpSeries D+$221.5M$3.4B1.58×
Mammoth Admin & Tech, LLCSeries D+$270.0M$3.4B1.57×
R Software Inc.Series D+$242.0M$3.0B1.38×
Renew Tech One LtdSeries D+$200.0M$2.7B1.26×
Monad Labs, Inc.Series D+$258.4M$2.7B1.23×
Altana Technologies, Inc.Series D+$344.1M$2.5B1.16×
Pendo.io, Inc. this companySeries D+$368.3M$111.8M0.05×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Pre-Seed$900K2013-12-23$5.0M$38.1M85%
Seed$1.3M2015-03-02$6.3M$42.6M85%
Series A$11.3M2015-10-01$51.2M$312.5M85%
Series B$20.0M2016-12-07$111.1M$609.1M90%
Series B$25.0M2017-07-06$138.9M$761.4M90%
Series C$50.0M2018-08-30$333.3M$1.6B90%
Series D+$100.0M2019-10-08$833.3M$3.2B90%
Series D+$150.0M2021-07-15$1.3B$3.7B90%
Series D+$9.9M2024-07-31$82.6M$111.8M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Pre-Seed$900K2013-12-23
    • First recorded raise — entered as Pre-Seed.
    • 9 investors on this round.
  2. Seed$1.3M2015-03-02
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • 6 investors on this round.
  3. Series A$11.3M2015-10-01
    • Came back fast: 7 mo vs the ~13 mo sector norm.
    • Round 9.0× larger than the prior — scaling up.
    • 16 investors on this round.
  4. Series B$20.0M2016-12-07
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 1.8× larger than the prior — scaling up.
    • 10 investors on this round.
  5. Series B$25.0M2017-07-06
    • Came back fast: 7 mo vs the ~13 mo sector norm.
    • Round roughly the size of the prior one.
    • 11 investors on this round.
  6. Series C$50.0M2018-08-30
    • Raised 14 mo later, in step with the ~13 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
    • 15 investors on this round.
  7. Series D+$100.0M2019-10-08
    • Raised 13 mo later, in step with the ~13 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
    • 18 investors on this round.
  8. Series D+$150.0M2021-07-15
    • Raised again after 21 mo — slower than the ~13 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 28 investors on this round.
  9. Series D+$9.9M2024-07-31
    • Raised again after 37 mo — slower than the ~13 mo sector norm.
    • Round 15.1× smaller than the prior — bridge or down round.
    • 32 investors on this round.
Intelligence
2025 ~Q4
Modeled next raise · ~16mo cadence
$9.9M
Modeled next size est.range $9.9M$15.9M
0.1×
Last step-up
$34.7M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Neeraj Agrawal16 other2016-12
David Steinberg13 other2015-03
Brett Queener9 other2018-08
Megan Quinn4 other2016-12
Dana Evan3 other2024-07
Rob Ward3 other2018-08
William Dunbar3 other2015-10
Erik Troan2 other2015-10
Rajeev Dham2 other2019-10
Todd Olson2 other2013-12
Will Dunbar2 other2015-03
Eric Boduch1 other2015-10
Greg Schott1 other2021-07
Registry & provenance

Pendo.io, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1595931
SEC CIK
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Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
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Pensa Systems, Inc.Software / TechSeries A$91.5M84%
Wekudo Tech, Inc.Software / TechSeries B$215.0M81%
Prompt.io Inc.Software / TechSeries A$10.1M80%
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Ostendo Technologies, Inc.Software / TechSeries C$574.2M79%
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Frequently asked
How much funding has Pendo.io, Inc. raised?
Pendo.io, Inc. has raised approximately $368.3M in disclosed capital across 9 recorded financing rounds, aggregated from public filings.
What is Pendo.io, Inc.'s estimated valuation?
Provath's modeled valuation for Pendo.io, Inc. is approximately $111.8M (modeled range $55.0M–$153.8M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Pendo.io, Inc. at?
Pendo.io, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Wed Jul 31.
What does Pendo.io, Inc. do and where is it based?
Pendo.io, Inc. operates in the Software / Tech sector, based in RALEIGH.
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