Pendula Secures A$14.5 Million in Funding

by Kay Aloha Villamor in August 22nd, 2023

Pendula, a Sydney, Australia-based provider of customer retention technology, secured A$14.5 million in funding. The funding round was contributed by Octopus Ventures, along with MA Growth Ventures.

With the newly acquired funds, Pendula intends to expand its global operations. The company plans to establish new international offices in both London and Singapore, aiming to drive growth in the ASEAN (Association of Southeast Asian Nations) and European markets.

Pendula's customer retention software is innovative, employing advanced analytics and generative artificial intelligence (AI) to assist companies in navigating potential economic downturns by reducing customer churn and maximizing customer lifetime value.

Alex Colvin, CEO of Pendula, said: “The past year has exceeded my expectations. Securing funding from Octopus Ventures alongside additional investment from MA Growth Ventures, is indicative of the dedicated work of the team. By listening to clients and helping them navigate changing economic conditions, we have been able to hit heights far bigger than we expected, as well as being able to diversify our offering and drive greater return for our customers.”

Pendula welcomed several new brands, including Mate Telecom, Brighte, and Peak Commerce, alongside existing clients such as Amaysim, BizCover, and Nobleoak.

Company: Pendula Solutions

Raised: A$14.5M

Round: Unknown 

Funding Month: August 2023

Lead Investors: Octopus Ventures

Additional Investors: MA Growth Ventures

Company Website:

Software Category:  Customer Retention

About the Company: Pendula is a proactive retention platform enabling organizations to increase customer lifetime value and customer retention. Pendula enables two-way communication via SMS, email, instant messenger, fax, and post directly from Salesforce or Zuora. Pendula HQ is based in Sydney, Australia. Its teams reside across the globe and work seamlessly across regions, including London, Singapore, and much more.


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