Raleigh software startup Pendo has raised $1 million in seed funding, money it plans to plow into sales and marketing and further development of its just-released product.
Formed late last year, the six-employee company’s cloud-based software is aimed at helping customers improve their software by providing feedback on what features its customers are using and which ones they’re ignoring.
On Tuesday, Pendo made its software available for free on its website as part of an expanded beta release in conjunction with its funding announcement.
Previously, about 35 customers participated in a private beta that enabled the company to upgrade its offering based on their reactions, said co-founder and CEO Todd Olson.
“Now we’re taking the covers off and opening it to more folks,” he said.
Triangle venture capital fund IDEA Fund Partners is among the investors that participated in Pendo’s new funding.
Pendo plans to beef up its sales and marketing and product development teams but hasn’t developed any specific hiring targets, Olson said.