San Francisco-based DevOps 'unicorn' PagerDuty Inc. has announced plans to go public and open a new office in Atlanta to acquire top talent in the Georgia state capital's burgeoning tech scene.
The company was founded in 2009 and valued at $1bn in September 2018, having posted revenue of almost $80m in 2017. It has developed technology that companies utilize to improve their digital performance by collecting signals from any software-enabled system or device so they can respond quickly to problems or incidents. As of January 31, 2019 it had 524 employees on its books.
PagerDuty filed plans for an initial public offering on March 15 with the Securities and Exchange Commission, stating its aims "to expand our existing facilities or add new facilities as we add employees and enter new geographic markets".
The company currently has offices in Seattle, Toronto, Sydney and London. It recently stated that by the end of 2019 it planned to hire up to 100 people in its Atlanta office.
Atlanta – dubbed the 'Silicon Valley of the South' – has recently drawn a lot of attention from the tech community, with a number of Bay Area startups such as Opendoor, Square and New Relic opening offices in the city. Fresh tech talent is a big draw for these companies, because, as the San Francisco area reaches greater saturation from tech players, top talent becomes more and more difficult to acquire.
"In San Francisco, the talent market is insane," PagerDuty CEO Jennifer Tejada stated in a 2018 San Francisco Business Times profile. "Not only competing for the most talented people, but when people hear you have a company that is performing well and a culture that is happy and effective, they start targeting your people.
"We've started to distribute our workforce," she added. "One, it is naïve to believe the best talent is only in San Francisco. Two, there are a finite number of people that can live in this city."