If Netflix crashes during your Stranger Things binge, the company helping to get your streaming back on track is PagerDuty, a software platform that filed for a $100 million initial public offering last Friday.
The San Francisco-based company, which aims to streamline how businesses log technical glitches, such as nonworking websites, joins a bevy of high-profile tech offerings expected this year. The list includes Uber, Slack, Palantir, Pinterest, and Lyft, which kicked off its IPO roadshow on Monday.
PagerDuty was founded in 2009 by three former Amazon engineers: Alex Solomon, Andrew Miklas, and Baskar Puvanathasan. Although the company may be little-known to most consumers, it has many high-profile customers, including Netflix, Gap, GE, and PayPal. In 2016 PagerDuty made the Inc. 5000 list of America's fastest-growing private companies, with revenue growth topping 1,303 percent between 2012 and 2015. According to its recent filing, for the first nine months of 2018, PagerDuty generated $84 million in revenue, a 48 percent increase over the same period in 2017.
PagerDuty reached unicorn status in 2018, after a $90 million Series D funding round, led by T. Rowe Price Associates and Wellington Management. It was valued at $1.3 billion last September. Andreessen Horowitz owns the largest share of the company, at 18.4 percent.
PagerDuty says it works with 10,800 organizations of all sizes, including a third of the Fortune 500. CEO Jennifer Tejada joined the company in 2016 after serving as president and CEO of Keynote Systems, a publicly traded hardware and software company that Tejada helped sell to a private equity firm.