San Francisco based digital operations management firm PagerDuty has closed a US$90 million Series D investment, raising the value of the company to US$1.3 billion and enabling it step up its artificial intelligence and machine learning strategy.
The latest round of funding was led by funds and accounts managed by T. Rowe Price Associates 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 US$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 PagerDuty CEO Jennifer Tejada. “This capital infusion allows us to continue our investments in innovation that 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.”
PagerDuty’s platform gathers and analyzes incoming digital signals from its ecosystem of monitoring tools, ticketing platforms, and applications such as Slack, AppDynamics, New Relic, Amazon CloudWatch, Zendesk, and ServiceNow. Artificial intelligence is applied to these signals in the context of human response patterns to orchestrate teams across the organization, automate workflows, and coordinate response.
“The platform predicts how and when events may occur, enabling teams to proactively take immediate action to not only respond to events, but also prevent business-critical issues,” said the firm.