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Software firm PagerDuty files for IPO

Digital operations management company PagerDuty Inc. has confidentially filed for an IPO, Bloomberg News reported Jan. 15, citing two sources.

The San Francisco-based company has reportedly tapped Morgan Stanley to lead the planned market debut.

PagerDuty was valued at more than $1 billion in September 2018 after it received funding from T. Rowe Price Group Inc. and Wellington Management Co. LLP. Its other investors include Andreessen Horowitz, Bessemer Venture Partners and Accel Partners.

As of April 2018, the company was on track to cross its revenue target of $100 million for 2018, according to Bloomberg.