Incident response specialist PagerDuty Inc. today publicly filed to list on the New York Stock Exchange, revealing that it’s seeing strong revenue growth but has not yet turned a profit.

The San Francisco-based “unicorn” startup sells a cloud platform used by information technology teams to alert administrators about technical issues and perform troubleshooting. The provider logged revenues of $107 million during the past 12 months thanks to a big upswing in demand. In the three quarters through Oct. 31, PagerDuty saw sales jump 48 percent over the same period a year ago.

The provider’s top line is growing considerably faster than its corporate installed base, which increased from 10,500 companies last October to 10,800 as of the end of January. But these numbers tell only a partial story. PagerDuty revealed in today’s filing that it generates most new sales through a “land and expand” strategy focused on having companies widen their use of its platform over time.

In the nine months ended Oct. 31, a full 90 percent of the provider’s revenue growth came from existing customers. PagerDuty now has more than 350,000 individual users at the companies that rely on its platform.

PagerDuty Chief Executive Officer Jennifer Tejada (pictured) provided some additional context about company’s expansion strategy in an interview late last year on SiliconANGLE’s theCUBE studio. She detailed how the provider gradually extended the scope of its platform over the years, adding features to address the needs of more users and departments within the modern enterprise.

PagerDuty’s platform enables companies to create workflows that automatically notify the appropriate administrator if a system experiences technical issues. Over the past few years, the provider has extended this core feature set with tools that help information technology teams uncover the root cause of problems and assess their business impact.

“We almost started out more like a consumer app,” she said, “It was really an application for engineers to make better use of their time on call and not being woken up when they don’t need to be. All those users started pushing their data to us … and with that information comes the power to create context.”

The goal, she added, is to put the company in a position to be not only the platform that orchestrates teams but “becomes the trusted engagement [platform] for automation, for fast-moving business.”

PagerDuty is investing aggressively to pursue this roadmap. The company logged a net loss of $38.1 million in the fiscal year ended Jan. 31, 2018, the most recent period for which the filing provides profitability data. 

PagerDuty has not yet determined its fundraising goal for the initial public offering, with the prospectus using a $100 million placeholder figure. There’s no word about the target time frame and market capitalization, either. The company received a $1.3 billion valuation after its most recent funding round in September.

Photo: SiliconANGLE