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.”
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