Cloud monitoring company PagerDuty goes public, shares close up 59 percent
PagerDuty, which offers an enterprise computing monitoring software as a service that has grown quite popular with companies looking to avoid downtime, became the latest tech company to join the public ranks Thursday.
Shares in PagerDuty closed up 59 percent on the New York Stock Exchange after its first day of trading. The company graduated from the Y Combinator startup finishing school in 2010 and had raised $173.6 million from investors such as Accel, Andreessen Horowitz, and Bessemer Venture Partners, according to Crunchbase.
My dad always said, “your only as good as the people you surround yourself with.” I am surrounded by a brilliant, big-hearted, committed and crazy team @pagerduty #Dutonians #PagerDutyIPO pic.twitter.com/cu0VOoh2p6
— Jennifer Tejada (@jenntejada) April 11, 2019
Founded by three ex-Amazon engineers looking for a better way to alert engineers of problems with a company’s web site or business applications, PagerDuty has become a valuable tool for engineers taking their turn “on call” to fix those problems. It monitors application environments in the cloud and is increasingly used for security and customer support teams, said Howard Wilson, chief financial officer for PagerDuty, in an interview with GeekWire.
“It’s able to deal with any kind of business problem where you have some kind of signal that’s either coming from software system or a device, and that signal needs to be aggregated and understood in some way, and then people need to be orchestrated in some way,” Wilson said.
The company has a “small” Seattle office, Wilson said, with its main offices in San Francisco and Toronto. “The talent situation is highly competitive in the Bay Area,” he said, and Seattle is one of the areas where the company is hoping to grow in the future.
[Editor’s note: The headline and this post were updated with the correct percentage increase in PagerDuty shares.]