PagerDuty closed a $90 million Series D investment, raising the value of the company to $1.3 billion.
The latest round of funding was led by funds and accounts managed by T. Rowe Price Associates, Inc. and Wellington Management, with participation from existing PagerDuty investors Accel, Andreessen Horowitz, and Bessemer Venture Partners. The round brings PagerDuty’s total amount of capital raised to $173 million.
“We are thrilled T. Rowe Price and Wellington have joined our journey to build an enduring company offering mission-critical products and services our customers need and trust,” said Jennifer Tejada, CEO at PagerDuty. “This capital infusion allows us to continue our investments in innovation that leverages artificial intelligence and machine learning, enabling us to help our customers transform their companies and delight their customers. From a business standpoint, we can strengthen our investment in and development of our people, our most valuable asset, as we scale our operations globally. We’re well positioned to make the lives of digital workers better by elevating work to the outcomes that matter.”
“We are impressed by PagerDuty’s market leadership, business growth, and product vision to become the de facto real-time operations platform for businesses undergoing digital transformation,” said Henry Ellenbogen, Portfolio Manager of T. Rowe Price New Horizons Fund. “We see the strength of the PagerDuty brand as it’s commonly used in many startups. The platform has become a basic requirement needed to build a modern business. We are excited to support Jennifer and the leadership team and believe they can build a much larger company.”
The Latest
The power of AI, and the increasing importance of GenAI are changing the way people work, teams collaborate, and processes operate ... Gartner identified the top data and analytics (D&A) trends for 2024 that are driving the emergence of a wide range of challenges, including organizational and human issues ...
IT and the business are disconnected. Ask the business what IT does and you might hear "they implement infrastructure, write software, and migrate things to cloud," and for some that might be the extent of their knowledge of IT. Similarly, IT might know that the business "markets and sells and develops product," but they may not know what those functions entail beyond the unit they serve the most ...
Cloud spending continues to soar. Globally, cloud users spent a mind-boggling $563.6 billion last year on public cloud services, and there's no sign of a slowdown ... CloudZero's State of Cloud Cost Report 2024 found that organizations are still struggling to gain control over their cloud costs and that a lack of visibility is having a significant impact. Among the key findings of the report ...
The use of hybrid multicloud models is forecasted to double over the next one to three years as IT decision makers are facing new pressures to modernize IT infrastructures because of drivers like AI, security, and sustainability, according to the Enterprise Cloud Index (ECI) report from Nutanix ...
Over the last 20 years Digital Employee Experience has become a necessity for companies committed to digital transformation and improving IT experiences. In fact, by 2025, more than 50% of IT organizations will use digital employee experience to prioritize and measure digital initiative success ...
While most companies are now deploying cloud-based technologies, the 2024 Secure Cloud Networking Field Report from Aviatrix found that there is a silent struggle to maximize value from those investments. Many of the challenges organizations have faced over the past several years have evolved, but continue today ...
In our latest research, Cisco's The App Attention Index 2023: Beware the Application Generation, 62% of consumers report their expectations for digital experiences are far higher than they were two years ago, and 64% state they are less forgiving of poor digital services than they were just 12 months ago ...
In MEAN TIME TO INSIGHT Episode 5, Shamus McGillicuddy, VP of Research, Network Infrastructure and Operations, at EMA discusses the network source of truth ...
A vast majority (89%) of organizations have rapidly expanded their technology in the past few years and three quarters (76%) say it's brought with it increased "chaos" that they have to manage, according to Situation Report 2024: Managing Technology Chaos from Software AG ...
In 2024 the number one challenge facing IT teams is a lack of skilled workers, and many are turning to automation as an answer, according to IT Trends: 2024 Industry Report ...
