In January 2016, it was reported that Pegasystems planned on raising its number of employees significantly, and the company announced the acquisition of OpenSpan Inc. There was a steady rise in the company's share price in 2015, with higher than expected revenues from the year prior. Between 20, Pegasystems had average sales growth of 21% per year. By September of that year, companies who had built teams of Pegasystems specialists included Virtusa (engineering and solution delivery partner since 2001), Accenture, Ernst & Young and Cognizant. Acquisitions īy early 2015, Pegasystems remained a publicly traded company on the Nasdaq, with 3,000 employees, 30 offices, and 'more than half a billion dollars in revenue.' As of February 2015, the company had active partnerships with IT outsourcing companies such as Hexaware, Tata Consultancy Services, InfosysBSE, WiproBSE, HCL Technologies, Accenture and Cognizant. After restating their earnings, Pegasystems faced an investigation by the SEC, which was dropped in 2002. Pegasystems entered a period of financial trouble in the late 1990s, following a dispute with its accountants, Ernst & Young.

Raising several millions in funding in the process, going public freed the company from needing to pursue venture capital investments. The company went public in 1996 with initial and secondary public offerings, and began trading on NASDAQ under the symbol PEGA. As a private company, Pegasystems was 'bootstrapped' initially, but did not take on outside investors. Trefler recollects that when he started Pegasystems, he wanted to create software that eased the heavy lifting that business people deal with, as well as software that understood how business-people wanted things to work, commenting 'it turns out to be a fairly hard problem to solve.' An article in Computerworld traces business rules engine to the early 1990s and to products from the likes of Pegasystems, Fair Isaac Corp and ILOG. During the company's early years it focused on providing case management, namely for companies such as American Express. Prior to founding the company, in the early 1980s Trefler had developed computer systems that could play chess.

Alan Trefler founded Pegasystems in 1983 at the age of 27, in Cambridge, Massachusetts.

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