Aussie tech company Pendula has secured $14.5 million to drive into international markets and compete on a level playing field with the world’s best.

The global business environment has changed. Historically low interest rates are in the rear view mirror, and businesses all over the world now look to consolidate the gains they have made by retaining their customers over the long haul as they create paths to sustainable profitability. 

It’s a switch in focus that heavily favours customer engagement platform Pendula, a Sydney-based technology scale-up that has invested heavily over the past seven years in its Customer Engagement Platform, which focuses on customer retention and up-selling technology. 

That journey has culminated in a significant milestone – securing $14.5M in funding announced in August.

Marketing technology is a crowded field. Pendula’s technology stands out with its use of AI and data analytics to power a proactive retention platform for its customers. 

This method of automation centres around customer ‘Moments of Truth’ – events or times of the year that dictate emotionally driven customer behaviour changes which indicate when they are most likely to churn or be open to upselling. 

This enables brands to make intelligent, data-driven decisions about when and where they should deploy their marketing campaigns. The company’s software quietly manages a massive 85 million Australian customer conversations, on behalf of household brands like Amaysim, Mate Telecom, Brighte, Peak Commerce, BizCover, and Nobleoak.

 

Tech be nimble, tech be quick

Many enterprise brands have invested significantly in marketing technology that is overly complex, time consuming to integrate, and results in poor returns on investment. It’s an opportunity for smaller, more nimble offerings like Pendula to make significant market-share inroads.

The recently concluded funding round welcomed UK-based Octopus Ventures alongside longstanding Australian VC partner, MA Growth Ventures. Pendula has commenced opening offices and building out local teams in London and Singapore, aiming to tap into the lucrative European and ASEAN markets. 

“We’ve spent the last few years building a world-class IP-led business, and an executive team that has the experience in running one. By intently listening to our clients and guiding them through economic shifts, we’ve surpassed even our own high expectations,” said CEO of Pendula, Alex Colvin. 

(FROM LEFT: YANN BURDEN, CHIEF GROWTH OFFICER; GREG CULLEN, CHIEF REVENUE OFFICER; AND ALEX COLVIN, PENDULA CEO AND FOUNDER.) Image: Supplied

“Australian businesses often end up limiting their ambitions, especially in the face of well-backed competition in large markets. That’s not us, we truly believe in what we’ve built. 

“The funding today will be used to take Pendula to international markets and compete on a level playing field with the world’s best. It’s an incredibly exciting phase for Pendula.”

Despite the enormous size of the martech market, the industry is ripe for disruption. 

Businesses are grappling with expensive, complex systems to do relatively simple marketing tasks such as automation and sentiment analysis whilst neglecting many of the more advanced capabilities of these platforms entirely.

It’s a level of investment waste that is likely to be examined by executives as shifting economic times invite a closer scrutiny of expenditures. 

With the prevailing economic wind in its sails, and a significant capital boost from this funding round, Pendula is poised to take its vision for customer engagement to compete on the global stage.

 

This article was developed in collaboration with Pendula , a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.