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PagerDuty files to go public in what should be a big year for tech IPOs

https://www.cnbc.com/2019/03/15/pagerduty-files-to-go-public.html
See More From: cnbc.com   ( )

Mar 15, 2019 4:11 PM 1+ week ago

By today's standards, PagerDuty is small for a software company at the time of IPO. The company generated $32.1 million in the quarter that ended Oct. 31, and had a net loss of $15.3 million. And for the year ended Jan. 31, 2018, sales rose 41 percent to $79.6 million.

PagerDuty has over 10,000 customer, including, Gap, GE, IBM and Netflix, according to its website. Competitors include Atlassian and Splunk, which have both acquired their way into the market. PagerDuty's software helps technical staff at companies spot problems and respond to incidents such as customer complaints.

Morgan Stanley and J.P. Morgan Chase are among the banks leading the deal. Investors include Accel, Andreessen Horowitz, Baseline Ventures and Bessemer Venture Partners. T. Rowe Price Group led a $90 million investment in PagerDuty in September at a $1.3 billion valuation.

The company was founded in 2009 and is based in San Francisco. Last year several technology companies started trading on ...

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