Pendo is a software experience management platform for product analytics, in-app guidance, and user feedback. It serves companies that want to improve software adoption and user experience, including enterprise and B2B teams.
Access to pre-IPO shares is available to accredited investors through UpMarket.
Latest Price
$2.6B
Series F, Apr 2020, Perplexity
UpMarket Estimate
$2.2B
Based on UpMarket valuation model
Previous Price
$1.5B
Series E Jun 2018
How to Invest in Pendo Through UpMarket
Pendo shares are not on public exchanges. UpMarket provides accredited investors access through secondary market transactions.
Step 01
Verify accredited investor status
Confirm eligibility under SEC Rule 501 of Regulation D. Income or net worth threshold applies.
Step 02
Create an UpMarket account
Complete KYC/AML onboarding. Typically 1–2 business days. Licensed rep assigned on signup.
Step 03
Review available Pendo offerings
Full offering memoranda and risk disclosures provided before any commitment is required.
Step 04
Complete subscription documents
Review and sign subscription agreement. All documents handled digitally through the platform.
Step 05
Fund your investment
Wire transfer or ACH. $50K minimum. Funds held in custodial account until close.
Pre-IPO investments are illiquid, speculative, and involve risk of total loss of capital.
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Valuation Growth Over Time
Post-money valuation by round
Previous roundsMost recent
Date
Round
PPS (split-adj.)
Valuation
Apr 2020
Series F
$2.6B
Jun 2018
Series E
$1.5B
Jun 2017
Series D
$1.2B
Oct 2015
Series C
$585M
Jan 2015
Series B
$125M
Pendo Revenue and Growth
Annual revenue
Why Investors Are Watching Pendo
Growth Signal
Pendo said it surpassed $100M ARR in July 2021
Pendo said it had surpassed $100 million in ARR in July 2021, showing it had reached a meaningful scale milestone. Contrary Research later said the company was seeing 60% year-over-year ARR growth as of April 2022.
Competitive Moat
Pendo has raised $467M across 8 funding rounds
Startup Intros says Pendo has raised $467.0 million across 8 funding rounds, including a $110.0 million secondary investment in November 2021. Earlier, Pendo also raised a $100 million Series E at a $1 billion valuation to fund global expansion and product development.
Product Milestone
Pendo raised $100M to expand its product cloud platform
General Atlantic said Pendo raised $100 million in Series E and would use the capital to accelerate global expansion and product development. The company described itself as a product cloud company focused on making digital products easier to use.
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No. As of March 2026, Pendo is a private company and does not trade on any public stock exchange. Accredited investors can access Pendo shares through UpMarket, a FINRA-registered broker-dealer that specializes in pre-IPO investments.
Pendo does not have a public stock price because it is privately held. The most recent known share price comes from its last funding round. Pre-IPO share prices on the secondary market may differ from the last round price depending on supply, demand, and market conditions.
Yes. Accredited investors can indicate interest in Pendo shares through UpMarket by filling out the form on this page or creating an account at upmarket.co. All pre-IPO offerings are subject to availability and require a $50,000 minimum investment. UpMarket is a FINRA-registered broker-dealer and has brokered alternative investments since 2019.
Pre-IPO investments carry significant risks. Pendo shares are illiquid, meaning there is no public market to sell them quickly. There is no guaranteed exit timeline or return. The investment is speculative in nature, and investors should be prepared for the possibility of total loss. Valuations of private companies can fluctuate substantially between funding rounds. Investors should consult their financial advisor and review all offering documents before investing.
In a pre-IPO transaction, accredited investors purchase shares from existing shareholders (such as employees, early investors, or other holders) through secondary market platforms. The company itself does not issue new shares in these transactions. UpMarket facilitates these trades as a FINRA-registered broker-dealer, handling compliance, documentation, and settlement on behalf of both parties.
There are two primary exit paths for pre-IPO holdings: selling your shares on the secondary market to another buyer, or holding until the company completes an IPO or is acquired. Both paths are subject to transfer restrictions, company approval (right of first refusal), and market conditions. The timing of any exit is unpredictable, and investors should plan for a multi-year holding period.
The minimum investment for most pre-IPO offerings on UpMarket is $50,000. This amount may vary depending on the specific offering and share availability. There are no fees to create an UpMarket account or browse available investments. Investors only pay transaction-related fees when they complete an investment.
UpMarket's valuation estimate of is derived from a proprietary model that incorporates multiple data sources: funding round data (Caplight), revenue estimates (Sacra), secondary market pricing, and public company comparables. The model applies a private company discount to the public comp multiple to account for illiquidity and information asymmetry. This estimate is not investment advice and may differ substantially from the price at which shares actually trade.
Pendo’s software experience management platform for product analytics, in-app guidance, and user feedback reached $300M in 2025 revenue and surpassed $100M ARR in July 2021, positioning it for a potential IPO path — accredited investors can access Pendo stock through UpMarket.