Total amount raised
$523.6 Million
Latest funding date
10/1/2023
Location
PagerDuty has successfully raised funds through eight distinct funding rounds, with the latest being a post-IPO debt round. The company has attracted a total of 17 investors, including notable names like Wellington Management and Andreessen Horowitz.
Keep reading to explore the intricacies of PagerDuty's fundraising journey and the investors backing this innovative platform.
What Is PagerDuty?
PagerDuty is an operations performance platform that helps monitor IT infrastructure, detect issues, and resolve incidents. The company operates in various industries, including Analytics, Cloud Computing, Information Technology, IT Management, SaaS, and Software. It is based in San Francisco, California, and has a workforce of 1001-5000 employees.
Founded to address the needs of modern IT operations, PagerDuty has grown into a public company listed under the ticker NYSE:PD. The platform is trusted by over 30,000 companies worldwide, offering a range of products and solutions designed to reduce downtime, improve productivity, and enhance customer experiences.
How Much Funding Has PagerDuty Raised?
- Seed Round
- Amount Raised: USD 1,900,000
- Date: September 2010
- Lead Investors: Harrison Metal
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and establish a market presence.
- Series A
- Amount Raised: USD 10,700,000
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: USD 27,200,000
- Date: July 2014
- Lead Investors: Andreessen Horowitz, Baseline Ventures, Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the customer base and invest in new technologies.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: August 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series C
- Amount Raised: USD 43,800,000
- Date: April 2017
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand into new markets.
- Series D
- Amount Raised: USD 90,000,000
- Date: September 2018
- Lead Investors: T. Rowe Price, Wellington Management
- Valuation at Round: USD 1.3 billion
- Motivation Behind the Round: To invest in AI and machine learning, and scale operations globally.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: June 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and product development.
- Post-IPO Debt
- Amount Raised: USD 350,000,000
- Date: October 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen the balance sheet and fund strategic initiatives.
Total Amount Raised: USD 523,900,000. Current Valuation: USD 1.3 billion.
Key Investors
- Wellington Management
- Details: Wellington Management is one of the world’s largest independent investment management firms, offering comprehensive investment management capabilities that span nearly all segments of the global capital markets.
- Investment Focus Areas: Equities, fixed income, multi-asset, alternatives
- Notable Investments: Airbnb, Uber, SpaceX
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm that invests in both early-stage startups and established growth companies.
- Investment Focus Areas: Software, consumer, enterprise, bio/healthcare, crypto, fintech
- Notable Investments: Facebook, Twitter, Airbnb
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm that provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Amazon, Google, Facebook
- Accel
- Details: Accel is a venture capital firm that works with startups in seed, early, and growth-stage investments.
- Investment Focus Areas: Consumer, enterprise, financial technology
- Notable Investments: Facebook, Dropbox, Slack
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a venture capital firm that invests in seed, early-stage, and growth-stage companies.
- Investment Focus Areas: Cloud computing, consumer, healthcare, financial services
- Notable Investments: LinkedIn, Shopify, Pinterest
What's Next for PagerDuty?
PagerDuty stands at the cusp of significant growth opportunities, driven by its focus on artificial intelligence and machine learning. The company aims to expand its services beyond alerting capabilities to include AIOps, which could revolutionize how enterprises manage their IT operations. With a valuation of $1.3 billion and a robust client base, the potential for scaling operations globally is immense.
Future fundraising opportunities appear promising, especially with the involvement of major investors like T. Rowe Price and Wellington Management. An IPO seems likely, providing the capital needed to further enhance their technology stack and market presence. However, challenges such as managing global operations and staying ahead in the competitive AI landscape could pose hurdles.
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