On Tuesday May 7, 2019, Pendo announced its acquisition of Receptive, a product demand intelligence platform based in Sheffield, U.K. Read the following FAQs and answers below.
Who is Receptive?
Receptive is the leading product demand intelligence platform. Receptive helps companies—mostly B2B SaaS organizations—to collect, measure and understand the product feedback and feature requests from customers, teams and the market.
Receptive turns qualitative feedback data into quantitative insights to help software teams make data-informed product decisions, act strategically, and close the feedback loop to give customers the experience they expect. This allows companies to focus precious time and resources building things that delight customers and drive revenue for the business.
Why did Pendo buy Receptive?
The primary rationale was to accelerate Pendo’s product vision in the area of qualitative feedback. One of the most important jobs for the product team is ensuring they are prioritizing and building the right product for the market. Receptive is a leader in helping companies bring customer, internal and other stakeholders into a centralized location to help prioritize what to build.
After spending time with the Receptive team, it was clear there was a match in vision, product strategy and overall culture. Receptive has solved a high value customer problem and done it in a differentiated way. We were impressed with their understanding of the problem space and really encouraged by the alignment of our strategic vision for bringing together multiple data sources into one product cloud for enabling better decisions, delivering better experiences and, ultimately, creating better products.
How will the acquisition benefit customers?
Customers will benefit in three primary ways:
- Manage feature requests and feedback–Understand the demand side of their product strategy and prioritize customer requests feedback to maximize revenue and retention.
- Create and maintain product roadmaps–Keeping their customers, prospects and employees aligned on a changing snapshot of product directions.
- Combining all product insight in one system of record–as the platform for product teams to discover – measure – engage across the product lifecycle.
Who uses Pendo and why?
Pendo helps product teams and application owners build and adopt software people love to use. Pendo offers these teams advanced analytics on product usage, so they can design the optimal customer experience and keep their customers engaged. Pendo also offers a solution to help design intuitive in-app product training, so companies can streamline the learning process and make any employee an instant technology expert.
Who uses Receptive and why?
Product teams and customer success teams typically use Receptive to help manage and prioritize feature requests and customer feedback and then close the loop with customers as they release new features and product updates. But the tool is also customer-facing. Customers use Receptive to submit and rank feature requests and to receive updates about the company’s product roadmap. Receptive is also used across an organization to help organize and prioritize requests that come from sales, engineering, marketing or C-level executives.
Will Receptive leadership and employees be retained?
Yes. Receptive CEO and co-founder Hannah Chaplin will become director of products and CTO and co-founder Dan Dukeson will become director of engineering. Both will continue to develop the Receptive product as part of Pendo, and lead the Receptive development team.
Will Pendo maintain the office in Sheffield?
Yes, and in fact, we plan to expand that office into a UK development center. We will soon relocate the team into a larger office space and open three reqs for additional developers.
What are the terms of the deal?
Pendo is a privately-held company and does not disclose financial information.
Do the companies have customers in common?
Pendo and Receptive share about a dozen customers, including Teachable, Buildxact, Firefly Learning, Magnus Health, Gecko Labs and Resoute.ai.
Will the Receptive brand be retained post acquisition?
Initially, yes. Long-term use of the brand is to be determined.
What is the integration plan?
Integration has already begun. We expect to initiate a beta program over the summer with a full rollout of the combined offering in September at our Pendomonium conference. Our goal is to unify the user experience across our product portfolio and to ensure the end result meets our compliance standards. We’ll also spend time integrating the two companies—our processes, support models, marketing efforts and teams. A lot of work is ahead, but we expect to emerge with the most complete solution for product teams in the market. You can help contribute to that by joining our beta program here.
How will we sell the Receptive product?
It will be a stand alone product and an integrated add-on within the core Pendo platform.