Software firm snapped up by US cloud company
US-based product cloud company Pendo has acquired Sheffield’s Receptive Software.
The North Carolina business said that the combined firm provides a complete integrated platform for product-led organisations, to help them deliver better product experiences.
Pendo will expand Receptive’s Sheffield headquarters, designating it as its European development center. It will also grow Pendo’s UK presence beyond its recently launched London office, at which it is set to employ 175. Pendo itself employs around 300 people.
Receptive was founded in 2015 and has developed an intelligence platform that helps B2B product managers to capture and report on data related to customer feedback and feature requests.
Receptive will operate independently to begin with, and both Pendo and Receptive products will be offered as part of standalone and integrated packages.
The acquisition closed on April 30, 2019.
Pendo was founded in 2013 and is backed by Battery Ventures, Spark Capital, Meritech Capital, and Sapphire Ventures. Since then, it has raised $106m in funds to develop its platform.
Todd Olson, co-founder and CEO of Pendo said: “Receptive is a perfect complement to our vision and our company culture.
“By adding demand intelligence to the Pendo product cloud, product-led organizations will have a 360 degree view of the user, the account, and the revenue impact of product decisions. This is a game-changer for product teams.”
Hannah Chapling, co-founder and CEO of Receptive, said: “Pendo and Receptive have a rare and powerful vision match where qualitative feedback meets quantitative analytics for unprecedented insight into product impact and customer success.
“We couldn’t be more excited about the opportunity to help bring to life such a big, bold vision for product-led organizations.”
