Silicon Valley venture capital firms Bessemer Venture Partners, Accel and Andreessen Horowitz now own hundreds of millions of dollars in PagerDuty after its IPO.
is Bessemer's fifth developer-focused exit since 2015, when Shopify went public with a $1.27 billion valuation. Bessemer was also an early investor in Twilio and SendGrid, which both went public before Twilio acquired SendGrid last year.
At the end of a pre-investment meeting, Kurzweil handed founder Alex Solomon a pager. A few hours later, Kurzweil paged Solomon with these fortune defining words:"Congrats we'd like to fund you!" Considering it was 2014, it took the team at Bessemer some time and effort to actually find a pager and figure out how to work it.
They're not the only firm in Silicon Valley to win big. Andreessen Horowitz, which led PagerDuty's Series A round, owns 16.2% of the company, or around $283 million. Accel, which led its Series C, owns 10.8% of the company, or around $189 million.
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