Pendo, a growing technology company founded in Raleigh, will more than triple its local operations over the next five years, adding 590 jobs and investing $34.5 million in Wake County, officials said Monday.
“North Carolina is home to many of the best tech minds in the industry, and Pendo grew out of that innovative culture,” Gov. Roy Cooper said during the announcement ceremony. “As homegrown companies evolve, they get the opportunity to reassess their location and expansion plans. North Carolina’s experienced tech talent pool won Pendo’s commitment to expand here.”
Pendo started in Raleigh in 2013 with five workers, when alumni from Rally Software, Google, Cisco and Red Hat set out to build software to understand and act on what drives digital product success.
“We’re hoping to improve society’s experiences with software,” Pendo co-founder and Chief Executive Todd Olson said. “As end users, we’ve all used software that’s frustrating, that has a bad experience. Given that software is pervasive in our lives, we think it’s a critically important mission.”
Pendo’s product cloud now provides user insight, user guidance and user communication tools for digital product teams at software companies and digital enterprises around the world and across industries. They use Pendo to understand how users journey through their web and mobile applications, and provides tools to onboard and educate those users, collect feedback, and ultimately, to increase product adoption and engagement.
Commerce Secretary Tony Copeland said Pendo, which now employs about 250 people, had “an attractive offer to leave Raleigh,” so the state approved a Job Development Investment Grant of nearly $8.8 million over 12 years to persuade company executives to stay. JDIGs refund some of the state withholding taxes to a company, provided it meets annual hiring and investment targets.
In addition to serving as Pendo’s corporate headquarters, Raleigh will be the company’s primary engineering hub, with dozens of software engineers and product managers, as well as its center for sales, marketing, customer service and back-office functions such as finance and human resources.
The average salary of the new jobs is expected to be $86,824. The average salary in Wake County is $56,245.