Andreessen Horowitz-backed startup PagerDuty has confidentially filed for an IPO but because of the shutdown no one can review its prospectus
- PagerDuty, an IT incident response startup, has reportedly filed confidentially for an IPO.
- PagerDuty was last valued at $1.3 billion in funding round backed by Silicon Valley VCs like Andreessen Horowitz and Accel.
- Despite filing the paperwork, PagerDuty isn't likely to get comments from the SEC anytime soon since the Securities and Exchange Commission is closed with the rest of the federal government.
The hot developer-focused startup PagerDuty has confidentially filed for an IPO, Bloomberg reported Tuesday.
PagerDuty was last valued at $1.3 billion in its $90 million Series D, which closed in September. It's backed by big Silicon Valley venture capital firms including Andreessen Horowitz, Accel, and Bessemer Venture Partners.
Morgan Stanley will lead the IPO, according to Bloomberg.
PagerDuty helps companies quickly respond to IT incidents and alerts the best people to respond to any given incident, giving information about what happened and providing analysis. It's a vital tool in a DevOps workflow, where incidents have to be resolved quickly so the pace can continue.
DevOps got a vital boost in 2018 after Microsoft acquired the venture-backed GitHub for $7.5 billion in June. PagerDuty CEO Jennifer Tejada leveraged investor excitement into a unicorn funding round at the end of last year, representing an impressive step up from its $650 million valuation a year earlier, in 2017.
While filing with the SEC puts PagerDuty in a good place for an early 2019 IPO, the company faces a major roadblock heading into its IPO. So long as the SEC and federal governement remain closed, IPO-ready companies aren't getting feedback on the paperwork they file, leaving most IPOs on hold.
PagerDuty did not immediately return a request for comment.
Read more: 2019 was supposed to be a banner year for IPOs, but now it's turning into a 's---show'
SEE ALSO: 2019 was supposed to be a banner year for IPOs, but now it's turning into a 's---show'
Join the conversation about this story »
NOW WATCH: China made an artificial star that's 6 times as hot as the sun, and it could be the future of energy