Cloud tech startup Pendo is officially a “unicorn,” hitting the rarified $1 billion valuation mark after securing $100 million in its most recent round of funding.
It’s not entirely unexpected that Pendo is a unicorn, a term that dates to 2007 and is used to define a tech startup still privately held that reaches a valuation of $1 billion based on private and public investment. The status remains relatively rare with Cary-based Epic Games and Wilmington-based nCino recently reaching the unicorn level.
Pendo CEO and founder Todd Olson hinted a few months back that the company was “pretty darn close” to the $1 billion mark. But this achievement is no less significant, especially considering the firm’s humble beginnings at HQ Raleigh just six years earlier.
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