PagerDuty Raises $27.2 Million to Become the Hub of Every Company’s Operations to Increase Reliability
Series B Funding Led by Bessemer Venture Partners Will Fuel Product Development and Accelerate Hiring Across Several Departments
SAN FRANCISCO, July 31, 2014-- PagerDuty, the leader in operations performance management, today announced the completion of a $27.2 million Series B funding round led by Bessemer Venture Partners. Following unprecedented customer growth and rapid company expansion, PagerDuty plans to invest heavily in product development to serve as the hub of all systems, people and data across a company’s entire operations. Previous investors Andreessen Horowitz, Baseline Ventures, and Harrison Metal also participated in the latest funding round. Trevor Oelschig, a partner at Bessemer Venture Partners, will join PagerDuty’s board of directors.
“More than ever before, dev and ops teams are having to grapple with keeping their systems and software up and running in a world where these environments are more decentralized, change more frequently, and run at greater scale,” Trevor Oelschig said. “PagerDuty has seen incredible traction with customers because it is solving critical revenue-impacting reliability problems that plague every enterprise.”
Every business today uses software to manage systems, deliver products, and empower employees to do their jobs. But software inevitably breaks, and when it does, businesses lose money – in the form of dissatisfied customers, missed SLAs or lost productivity. PagerDuty solves this problem by helping operations engineers and developers more effectively manage and resolve incidents across a company’s global operations. PagerDuty’s industry-first operations performance platform creates global visibility across the organization, fixes the broken incident lifecycle and delivers actionable data that helps teams prevent future issues. The results – improved system reliability and greater team productivity – translate into increased revenue and customer satisfaction.
"We started PagerDuty by solving the hair-on-fire problem of on-call incident response and expanded to address the entire incident lifecycle, in order to create visibility across a company’s entire operations,” said Alex Solomon, CEO and co-founder of PagerDuty. “With their history of investments in the cloud and SaaS space, Bessemer is the perfect partner to help us scale and revolutionize the world of IT Operations.”
PagerDuty will also push forward with an aggressive hiring campaign that has added VP of Sales Trenton Truitt, VP of Marketing Nisha Ahluwalia, VP of People and Talent Sophie Kitson, CFO Charles Ferer, and VP of Products Jonathan Wilkinson to the company roster since its $10.7 million Series A funding round in 2013. For more information about career opportunities at PagerDuty, visit www.pagerduty.com/jobs.
About Bessemer Venture Partners
Bessemer Venture Partners (BVP) invests in early-stage, hyper-growth startups, partnering closely with entrepreneurs to build durable businesses. BVP is a global firm with offices in Menlo Park, Cambridge, New York, Bangalore, Herzliya and Sao Paolo. With $4 billion under management, BVP invests anywhere from $100,000 to $75 million in innovative companies like LinkedIn, Yelp, Skype, Cornerstone OnDemand, Pinterest, Box, Shopify and Twilio. Over 100 BVP companies have gone public. Learn more at bvp.com and follow us on Twitter @BessemerVP.
PagerDuty’s operations performance platform helps companies increase reliability. By connecting people, systems and data in a single view, PagerDuty delivers visibility and actionable intelligence across global operations for effective incident resolution management. PagerDuty has over 80 platform partners, and is trusted by Fortune 500 companies and startups alike, including Microsoft, National Instruments, Electronic Arts, Adobe, Rackspace, Etsy, Square and Github. The company is headquartered in San Francisco and backed by leading venture capital firms Andreessen Horowitz, Bessemer Venture Partners, Baseline Ventures, Ignition Partners and others. Try PagerDuty for free, or to get more information, visit www.pagerduty.com.
Ann Hodge, +1 415-738-7718 ext. 25
Venture Capital Database