PagerDuty Inc., a startup that helps engineers spot and respond to technical problems, today announced that it has secured $90 million in new financing at a $1.3 billion valuation.

The round included a Who’s Who of institutional backers. Wall Street giants T. Rowe Price Associates Inc. and Wellington Management Group LLC led the investment, with participation from Accel, Andreessen Horowitz and Bessemer Venture Partners. The cash infusion brings PagerDuty’s total raised above $173 million.

PagerDuty Chief Executive Officer Jennifer Tejada (pictured,) a regular on SiliconANGLE’s theCUBE studio, told Forbes that it took only four weeks to raise the new round. She attributed it to favorable financial conditions and “one of the longest bull markets in the history of life on earth.” PagerDuty’s massive market presence no doubt played a part in drawing investors, too.

The startup provides a cloud-based information technology incident management platform that’s used at more than 10,500 organizations, including IBM Corp., Netflix Inc. and General Electric Co. PagerDuty enables companies to create workflows for alerting their engineers when something goes wrong. The platform provides the ability to schedule on-call shifts for personnel and set up automated notification policies.

A company could, say, connect PagerDuty to its breach detection tools and configure the platform to alert the cybersecurity team when an anomaly comes up. The offering also lends itself to other use cases such as monitoring  data center hardware for outages and customer support.

PagerDuty makes it possible to customize alerting workflows for the specific scenarios in which engineers may be called upon to fix an issue. For instance, a company’s infrastructure team could configure the platform to notify multiple administrators at once if an outage affects a particularly important system. An alerting workflow can also take additional factors into account, such as the number of affected users.

PagerDuty expanded upon the core feature set in June with a machine learning product called Event Intelligence. According to the startup, the offering automatically filters system “noise” and generates advice on how to fix technical problems. Thanks to the new funding round, PagerDuty has plenty of capital with which to continue product development going forward. 

Tejada discussed PagerDuty’s machine learning technology in-depth during her most recent appearance on SiliconANGLE’s theCUBE. The full interview is below.

Photo: SiliconANGLE