(Bloomberg) -- PagerDuty Inc., which makes tools for software developers, filed publicly for a U.S. initial public offering, disclosing growing revenue and losses.
The San Francisco-based company filed with an initial offering size of $100 million, which is typically a placeholder that’s likely to change. The company’s backers include Andreessen Horowitz, Bessemer Venture Partners and Accel. In September, PagerDuty was valued at more than $1 billion after an investment led by T. Rowe Price Group Inc. and Wellington Management.
PagerDuty had a net loss of $34.5 million on net revenue of $84 million for the nine months ended Oct. 31, according to Friday’s filing with the U.S. Securities and Exchange Commission. That compares with a net loss of $30 million on net revenue of $57 million for the same period a year earlier.
The company said it has 10,806 customers in 90 countries, including a third of Fortune 500 companies.
PagerDuty was founded in 2009 and rose to become a leader of a category of software tools known as developer operations. Its service helps alert coders to crashes and other technical problems when they arise.
Morgan Stanley, JPMorgan Chase & Co., Royal Bank of Canada and Allen & Co. are leading the offering. The company has applied to list on the New York Stock Exchange under the symbol PD.
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