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By Katie Roof and Liana Baker

July 27, 2021 at 10:00 AM UTC

This article is for subscribers only.

Pendo, a startup that helps companies develop better software products, has raised $150 million at a $2.6 billion valuation with an initial public offering potentially on the horizon.

B Capital, the venture capital firm started by billionaire Facebook Inc. co-founder Eduardo Saverin and backed by management adviser Boston Consulting Group, is leading the round, Pendo Chief Executive Officer Todd Olson said in an interview.