Unicorn startup PagerDuty files to go public

PagerDutyPagerDuty CEO Jennifer Tejada
  • On Friday, the IT operations company PagerDuty filed its S-1 to go public.
  • PagerDuty previously confidentially filed for its IPO, but at the time, the government couldn’t review its prospectus due to the government shutdown.

The IT operations company PagerDuty released its public paperwork for its IPO on Friday.

PagerDuty, which was founded in 2009, helps alert IT employees when there are tech incidents. For its 2018 fiscal year ending January 31, PagerDuty generated revenue of $US79.6 million and had a net loss of $US38.1 million. PagerDuty didn’t report its previous full fiscal year, so its difficult to compare its annual growth or losses.

It did give these trailing twelve months stats: revenue of $US107 million which is 48% revenue growth. It now has over 10,000 customers, too, it says.

PagerDuty also offered a comparison of its finances for part of its previous two fiscal years. For a nine month period in its fiscal 2017, it generated $US56.6 million with a net loss of $US29.8 million. For the same nine-month period in its fiscal 2018, it generated just about $US84 million in revenue and a net loss of $US34.5 million.

PagerDuty will list its stock on the New York Stock Exchange under the symbol “PD.” The company, which has been backed by firms like Andreessen Horowitz, Accel, and Bessemer Venture Partners, was last valued at $US1.3 billion after raising $US90 million in Series D funding.

PagerDuty had already confidentially filed for its IPO, but because of the government shutdown in January, the government couldn’t review its prospectus.

In addition to PagerDuty, the firms Andreessen Horowitz, Accel, Bessemer Venture Partners, Baseline Ventures, and Harrison Metal Capital II all held shares prior to the offering. Andreessen Horowitz is the biggest shareholder outside of PagerDuty, owning 18.4%. Accel owns 12.3%, Bessemer Venture Partners owns 12.2%, Baseline Ventures owns 6.7% and Harrison Metal Capital II owns 5.3%, according to the filing.

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