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NelsonG

PagerDuty just filed its S-1

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PagerDuty, an 8.5-year-old, San Francisco-based company that sends companies information about their technology, just filed its S-1, a public disclosure about its plans to go public.

The company, which helps companies quickly respond to IT incidents, as well as increasingly tries to anticipate them, had reportedly filed confidentially several months ago but the 35-day government shutdown meant that no one could review its prospectus (or that of other companies) at the time.

According to a story from Bloomberg dating back a ways, Morgan Stanley is leading the offering.

We’ve reached out to the company for more information.

PagerDuty was valued at $1.3 billion last fall when it closed on $90 million in Series D funding led by T. Rowe Price Associates and Wellington Management. Earlier backers Accel, Andreessen Horowitz and Bessemer Venture Partners had also joined the round, which brought the company’s total funding to $173 million.

According to the S-1, venture investors currently own about 55 percent of the company. Andreessen Horowitz Fund owns the biggest stake in the company with 18.4 percent of its shares, sailing into the IPO. Accel meanwhile owns 12.3 recent, Bessemer owns 12.2 percent, Baseline Ventures owns 6.7 percent, and Harrison Metal owns 5.3 percent.

PagerDuty, which employed 500 employees as of last fall, has never been profitable according to its filing, which says it generated a net loss of $38.1 million for the fiscal year ended January 31, 2018.

We profiled the company’s CEO, Jennifer Tejada, last fall. Assuming the company’s plans move forward without a hitch, Tejada will join a small but growing list of women CEOs who’ve taken the tech companies they lead public, including Eventbrite’s Julia Hartz, and Stitch Fix CEO Katrina Lake.

More on this developing story shortly .  .  .

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