PagerDuty, a cloud computing company that produces a SaaS incident response platform for IT departments. raised $218 million in its U.S. initial public offering.
The company marketed the shares for $21 to $23, a range it had increased from $19 to $21. The IPO values the company at $1.77 billion, based on the number of shares outstanding after the offering, as detailed in regulatory filings.
PagerDuty was founded 2009 in Toronto, Ontario, by University of Waterloo graduates Alex Solomon, Andrew Miklas, and Baskar Puvanathasan. The company is headquartered in San Francisco with operations in Toronto, Ontario, the United Kingdom, and Australia.
The company received investments from Accel, Andreessen Horowitz, Bessemer Venture Partners, T. Rowe Price Associates, Wellington Management and many others.
PagerDuty has over 11000 customers including IBM, Airbnb, Slack, Comcast, eHarmony, Slack, Lululemon etc..