PagerDuty

PagerDuty, Inc. builds a software platform that IT operations and engineering teams use to detect, route and resolve incidents, from routine disruptions to major outages. The company was founded in Toronto in 2009 by University of Waterloo graduates Alex Solomon, Andrew Miklas and Baskar Puvanathasan and went through Y Combinator. Its S-1 states it was incorporated in Delaware in May 2010, and its principal offices are in San Francisco. Jennifer Tejada became chief executive in July 2016; in May 2026 John DiLullo was named CEO and Tejada became executive chair.

The company raised a $1.9 million seed round from angel investors in 2010. In January 2013 it closed a $10.7 million Series A led by Andreessen Horowitz. Bessemer Venture Partners led the $27.2 million Series B in July 2014; Bessemer's published investment memo records a $180 million pre-money valuation, set at 14 times June 2014 annual recurring revenue of $12.6 million, with partners Trevor Oelschig and Ethan Kurzweil leading. In April 2017 Accel led a $43.8 million round with Andreessen Horowitz, Bessemer, Baseline Ventures and Harrison Metal participating, bringing total funding to $83.6 million. In September 2018 PagerDuty raised $90 million in a round led by T. Rowe Price and Wellington Management.

PagerDuty priced its initial public offering on April 11, 2019 at $24.00 per share, selling 8.5 million shares itself while selling stockholders sold 570,000, for gross proceeds of about $217.7 million, and listed on the New York Stock Exchange under the ticker PD. The S-1 identified entities affiliated with Accel, Andreessen Horowitz, Baseline Ventures and Bessemer as holders of more than 5% of its capital stock. Since listing it has bought Rundeck (2020), Catalytic (2022) and Jeli (2023). Its annual reports show revenue of $430.7 million for the fiscal year ended January 31, 2024 and $492.5 million for the fiscal year ended January 31, 2026.

For investors, PagerDuty shows a capital efficient path from a Y Combinator seed to a public listing in roughly nine years. Andreessen Horowitz entered at the Series A in 2013, Bessemer priced the Series B at a multiple of recurring revenue backed by low churn and strong expansion, and Accel led the last venture round before crossover funds T. Rowe Price and Wellington bought in ahead of the IPO. Total disclosed private funding was under $200 million, a modest sum against the revenue the business later reached.