The hot developer-focused startup PagerDuty has confidentially filed for an IPO, Bloomberg reported Tuesday.
PagerDuty was last valued at $1.3 billion in its $90 million Series D, which closed in September. It’s backed by big Silicon Valley venture capital firms including Andreessen Horowitz, Accel, and Bessemer Venture Partners.
Morgan Stanley will lead the IPO, according to Bloomberg.
PagerDuty helps companies quickly respond to IT incidents and alerts the best people to respond to any given incident, giving information about what happened and providing analysis. It’s a vital tool in a DevOps workflow, where incidents have to be resolved quickly so the pace can continue.
DevOps got a vital boost in 2018 after Microsoft acquired the venture-backed GitHub for $7.5 billion in June. PagerDuty CEO Jennifer Tejada leveraged investor excitement into a unicorn funding round at the end of last year, representing an impressive step up from its $650 million valuation a year earlier, in 2017.
While filing with the SEC puts PagerDuty in a good place for an early 2019 IPO, the company faces a major roadblock heading into its IPO. So long as the SEC and federal governement remain closed, IPO-ready companies aren’t getting feedback on the paperwork they file, leaving most IPOs on hold.
PagerDuty did not immediately return a request for comment.
Last month, Twitter updated its iOS app to bring back the reverse-chronological feed and, at the time, it promised that the same feature would soon be arriving on Android. That promise has been kept and Android users can now access this feature, something that was the norm three years ago. This means Android users can...
Netflix’s price hike may come back to bite the streaming video leader — and maybe not so far in the future. The company’s second price increase in less than two years, announced on Tuesday, delighted investors accustomed to the intoxicating pricing power that comes when a business dominates a market the way Netflix does. But...