Company Name: Pendula
Announcement Date: 19/02/2019
Announcement Category: Investment
Announcement Content:
Australian technology start-up Pendula will extend its operations to the US and UK and more than double in size in 2019, following a $3.5 million capital raise to expand the business and escalate its go-to-market strategy.
Pendula, which launched in mid-2017, is a unique technology solution which can be adopted by any business using Salesforce or Zuora to make it much easier for customers to interact with their service providers, and for those companies to provide a much more seamless, simple and pain-free customer experience.
The business impact of applying this technology includes immediate and sustainable improvements to customer satisfaction and retention, and significantly faster and lower-cost development, launch and take-up of new products and services. Critically, Pendula clients have reported that using the technology removes the need for call centre staff on up to 80-90 per cent of customer interactions.
With Energy Australia, LendLease, Navitas, Australian Computer Society, OVO, Providr, Hit 100 and Wildlife Victoria among the 50-plus companies subscribed to the platform, Pendula is ready to take the now-proven technology to potential clients in the US, UK and Asia.
“We’ve been watching Pendula for more than a year, as they developed and proved the platform as a solution that fills a gap for businesses. This addresses problems any business faces when trying to communicate with their customers, by bringing a similar level of automation that revolutionised the marketing sector,” said EVP investment director Justin Lipman, who led the Pendula capital raise.
“EVP likes B2B subscription opportunities that change how client businesses operate. We spent a lot of time speaking with Pendula’s customers during our due diligence to map out how they used the technology.
“These customers told us that Pendula had changed how they do business, to the point where they can’t live without it. It was clear Pendula is solving genuine business problems, and making those businesses more cost-effective and competitive at the same time.”
With the capital raise completed, Pendula will increase its team to a combined software engineer, client service and sales team of 45 across Sydney and Brisbane between now and October 2019, up from a current team of 20. It will also establish a permanent sales presence in the US to escalate efforts to sign on clients in the US and UK over the next 12 months.
“Pendula’s biggest opportunity to scale is the US market. This capital raise gives us the momentum we need to capitalise on that opportunity faster,” said Pendula founder and CEO, Alex Colvin.
“The business problems we’re addressing are universal. It doesn’t matter who your customers are or what product or service you’re providing, the fact is that the more customers you have, the harder it is to engage with them in a way that satisfies their needs.
“Our software addresses this by making interaction and problem-solving with customers simple for customers in a way that defines the relationship between company and customer and makes it a positive experience. It uses a company’s existing communication platforms – email, SMS and social – and aligns the communication and record-keeping across the many departments even the simplest of business models need in order to sign, service and communicate with their customers.
“We have more than 50 clients in Australia, some of which number among the biggest companies in the Country. Upscaling the operation will mean we can continue to grow here and build our international client base, while continuing to evolve the platform,” Alex said.
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Announcement URL: https://www.pendula.com
About Pendula:
Pendula enables two-way communication via SMS, email, instant messenger, fax and post directly from Salesforce or Zuora. Automate everyday conversations with your customers across any channel, keeping them happy and engaged at a fraction of the cost. Build loyalty through engagement and deliver your best customer experience yet.
Formerly Zipline Cloud.
Go to Company Profile for: Pendula
Announcement Contact: [email protected]
