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Pendula secures $6.75m in latest fund round

Pendula Team

7 minute read
August 1, 2021
You will be hearing from our Pendula people from various departments on what makes Pendula a great place to work.
Meet Alex Pribula, Product Designer
Q. Tell us about your career journey at Pendula.
I started at Pendula while I was still doing my undergrad at USYD. I started off as a part-time Junior Designer, and found a real enjoyment in not only collaborating with our design team, but also getting to know the legends behind the Pendula product itself (engineers and product peeps!). And, although I graduated soon after starting my Pendula journey, I certainly haven’t stopped learning. My interest in product design was something that was nurtured and highly encouraged by Pendula, and I soon started working on the product as a Product Designer. It’s been a fantastic experience, and super rewarding when we get to celebrate our great wins as a team. I couldn’t ask for a better place to kickstart my career in product.
Q. What do you think makes Pendula a great place to work?
As corny as it sounds, I’ve never met a better bunch. I was afraid I had rose-colored glasses on in the beginning, especially directly comparing to uni groups… but they truly are fantastic people in and out of work and it makes my day to day (and even the bumps in the road!) super enjoyable. I also like playing with all of the dogs that come into the office. Definitely not biased because of that… no no…
Q. What's your favourite thing about coming to work?
We get to work together in a super cool spot in the heart of Surry Hills. It’s a fantastic location and there’s so much to do. Frequent team outings, after work drinks, lunches etc etc. Not only that, but I’ve also had the opportunity on multiple occasions to travel to our Brisbane office to work on product directly with our awesome engineering team. It’s always a great day coming in to the Pendula office!
Meet Rowan Train, Solutions Consultant
Q. Tell us about your career journey at Pendula.
I joined Pendula almost 4 years ago in a different role I am in today. As part of a smaller team then, I was exposed to many different tasks within the company and with the ongoing support of our executive team have been able to transition roles more than once to different departments within the company. I have more recently joined the Sales team and am very happily working alongside some very experienced salespeople. It has been an ever changing journey and I'm grateful for the leadership team supporting me as I've changed positions as the company has grown and our needs have changed.
Q. What do you think makes Pendula a great place to work?
We are fortunate to have a team of very hard working and intelligent people. We're also good friends, so everybody is willing to help one another out without expecting anything in return. I would say that everyone in the company is approachable and especially the Executive team are always willing to take time and listen to all levels of the staff. There are no egos in the company and I think that really shows when we all get together, we always produce great work and have a good time.
Q. What's your favourite thing about coming to work?
For me personally, I'm always keen to learn something new. So I really enjoy coming in to work because it gives me a chance to see how others solve their day to day problems and I'll always take something out of that.

The venture investing arm of diversified financial services firm MA Financial Group has backed Australian technology business Pendula to the tune of $5m supporting the Sydney-based company to rapidly increase customer acquisition. Joined in funding by Equity Venture Partners (EVP), who followed on to increase their investment in the company, total funds raised for the round capped at $6.75m.

The latest round of funding comes after a bumper 12 months, which saw Pendula manage over 20m conversations. Backed since 2019 by EVP, Pendula is the first of its ventures to secure funding from MA Financial and this partnership marks the first time both investment companies have worked together. The move puts the expanding tech business in a solid position to fulfil a long held ambition to grow globally. 

MA Financial Group (formerly Moelis Australia) is listed on the ASX and its asset management division currently manages A$5.8bn of investments across private equity, venture capital, real estate, credit, equities and hospitality assets. 

Speaking about investing in Pendula, Will Botha, Investment Director at MA Financial said, “We are excited to support another amazing Australian software business. Pendula has built a very impressive product that solves real world problems for businesses as they look to better interact with their customers. Deep communications work-flow functionality that can be accessed through an easy to navigate user interface has resulted in a growing list of impressive customers. 

On top of this, the team has a deep focus on solving complex problems and we are looking forward to helping the business scale into the future”.

As part of the round, EVP doubled down on its original investment in Pendula. Speaking about the decision to reinvest in the business, EVP Partner Justin Lipman commented, “Pendula has proven its market leading product in delivering a platform used by landmark organisations both locally and abroad. Being part of the business’s growth in the past few years has been extremely rewarding. We welcome the opportunity to work with the team at MA Financial and are pleased that they share the same belief in Pendula as we do.”

Pendula’s latest digital conversation platform is revolutionary within the Australian market and is spearheading the next phase of business growth. For this stage the business will be focused on scaling customer acquisition channels alongside broadening the integrated ecosystems, with this push for ubiquity, global expansion of the business is a high priority. Pendula has its eyes on markets outside of Australia including the USA and Europe. The business was also supported by Platform Advisory Partners during this round of funding.

CEO of Pendula, Alex Colvin, spoke about the fund raise commenting: “Working with the MA Financial team so far has been a great experience. This round saw a significant amount of overseas interest, with MA Financial’s style, ambition and alignment with our growth plan a complete stand out. Everyone at Pendula is primed and ready to deliver on our goal so being backed by investors as established, regarded and collaborative as the team over at MA Financial gives us an extra incentive to push our business on to the global stage.

“We are in great company within the MA Financial line up including incredible software businesses like ROKT, CitrusAd, Ansarada and Comestri.”

Launched in 2017, Pendula is a unique technology solution allowing consumers to quickly and easily communicate with businesses through automated SMS and emails. The experiences from Pendula are defined by being ‘more human’ than is expected from automated conversations. The product has enabled the business’s clients to attain 500% increases in conversation rates and 430% stronger engagement when compared to traditional email-based customer communications.

The business works with a roster of emerging, established and iconic brands including amaysim, Cancer Council, TEDX, Ramsay Health Care and Origin Energy, providing solutions that allow consumers to get the information they need from the companies they do business with.

About MA Financial Group

MA Financial Group Limited (formerly Moelis Australia) is an ASX-listed asset management and corporate advisory firm originally established as a joint venture with NYSE-listed investment bank, Moelis & Company. Launched in 2009, today we have A$5.8 billion in assets under management across private equity, venture capital, real estate, credit, equities and hospitality investments. The firm has grown to become a team of 300+ across Sydney, Melbourne, London, Beijing and Shanghai. 

Working with state and federal governments, MA Financial Group was a pioneer in the Significant Investor Visa space. Today, we are one of Australia's largest fund managers for overseas high-net-wealth investors in the program. 

About Equity Venture Partners (EVP)

EVP is a Sydney based early stage venture capital firm with over $150m in funds under management. EVP partners with exceptional founders building Australia’s next generation of outstanding software companies. The firm has three funds under management and a portfolio of over 30 companies that have raised in excess of $850m of follow-on financing. These portfolio companies include some of Australia’s most successful startups such as Siteminder, Deputy, Practice Ignition and Shippit. See more about EVP here.

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