PagerDuty Raises $27.2M Series B led by Bessemer

Great article in PandoDaily:

Managing IT infrastructure, be it hardware or software, is no longer confined to just so-called technology companies. In today’s age, nearly every company in the world relies on technology to run its business. And with the rise of the cloud, virtualization, and mobile, these systems and software are more distributed, operate at greater scale, and change more frequently than ever before. The result is an increasingly complex task of managing this infrastructure.

“When an ops team is fighting a crisis, there’s only two things they want: They just want to solve the problem and go back to bed, because it’s typically two in the morning,” says Bessemer Venture Partners’ Trevor Oelschig. “Anything that makes that easier really works.”

Bessemer just made a big bet on PagerDuty, a SaaS operations performance management startup that helps organizations manage and increase the reliability of their IT systems. The firm led a $27.2 million Series B round with participation from existing investors Andreessen Horowitz*, Baseline Ventures, and Harrison Metal. Oelschig will join PagerDuty’s board of directors.

“I met [PagerDuty CEO] Alex [Solomon] several years ago and have stayed in touch with him ever since,” Oelschig says. “He’s built an absolute rocketship. He lived the problem directly at Amazon – which is something we see frequently when baking companies solving very targeted problems – and he built a product to solve this problem better.”

Congratulations to everyone at PagerDuty, particularly the founders and early employees that built the company from a great idea up to an amazing team of 60+ by the time I joined this January. It’s a great group of people working on a product they love and believe in, and I’m honored to be a part of it.