PagerDuty pops nearly 60% in debut as tech IPO market heats up

The rally, if it can be sustained, should offer some relief to technology investors following Lyft’s post-IPO performance, especially with bigger companies like Zoom, Pinterest and Uber preparing to hit the public markets in the coming weeks. PagerDuty, whose software helps technical teams quickly spot problems with applications and respond to incidents such as customer complaints, is used by developers at over 11,000 companies, including Slack, Box, Gap and Netflix. Ethan Kurzweil, a partner at Bessemer Venture Partners, one of PagerDuty’s biggest investors, said that these sorts of developer tools are gaining importance as software becomes central to the way more companies do business.

Source: www.cnbc.com