PagerDuty Raises $27.2M to Transform IT Incident Response
PagerDuty, the cloud-based IT incident management platform, has secured \(27.2 million in Series B funding. The round was led by [Bessemer Venture Partners](http://www.crunchbase.com/organization/bessemer-venture-partners), with participation from existing investors [Andreessen Horowitz](http://www.crunchbase.com/organization/andreessen-horowitz) and [Baseline Ventures](http://www.crunchbase.com/organization/baseline-ventures). This latest investment brings PagerDuty's total funding to \)39.8 million since its founding five years ago.
Key Investment Highlights
- Leadership Addition: Trevor Oelschig, Partner at Bessemer Venture Partners, will join PagerDuty’s board of directors
- Funding History: Previous rounds included \(1.9M seed funding (2010) and \)10.7M Series A (January 2013)
- Customer Base: Currently serves 30% of Fortune 100 companies, including Nike, Adobe, and Evernote
The PagerDuty Vision: Smarter Incident Management
CEO and co-founder Alex Solomon explains the company’s mission: “We’re evolving from simply alerting IT teams about problems to providing intelligent solutions that can often resolve issues automatically.”
Current Capabilities
- Centralized incident reporting across multiple monitoring tools
- Smart alerting system to reduce false positives
- Integration with leading platforms like New Relic, AppDynamics, and Splunk
Future Development Plans
The new funding will accelerate:
- Product Innovation: Developing AI-driven auto-remediation features
- Team Expansion: Growing the current 90-person team across San Francisco and Toronto offices
- Market Expansion: Broadening adoption across enterprise IT departments
Differentiating Factors in a Competitive Market
While comparable to monitoring tools like ScienceLogic, PagerDuty focuses on:
- Cross-platform integration: Works with any monitoring system, cloud or on-premise
- Incident prioritization: Filters alerts to only escalate critical issues
- Unified dashboard: Provides complete visibility across IT infrastructure
“Before PagerDuty,” Solomon notes, “companies had to build their own incident management systems. We provide an enterprise-grade solution that works with whatever tools they’re already using.”
The Bigger Picture: IT Operations Transformation
PagerDuty represents the growing category of IT operations tools designed to:
- Reduce alert fatigue for on-call engineers
- Minimize system downtime through faster response
- Provide comprehensive visibility into IT health
With this significant funding round, PagerDuty is positioned to redefine how enterprises manage and resolve IT incidents in our increasingly digital world.
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