Software analytics provider New Relic has raised $100 million in funding. Blackrock and Passport Capital led the round with participation from T. Rowe Price Associates and Wellington Management. According to the firm, the capital infusion will be used for product development and international expansion. Allen & Company advised New Relic on the transaction and helped arrange the financing.
SAN FRANCISCO – April 28, 2014 – New Relic, a leading provider of software analytics, today announced $100 million in financing that will fund further product development and expand the company’s international presence. Funds affiliated with BlackRock, Inc. and Passport Capital, LLC led the round with T. Rowe Price Associates, Inc. and Wellington Management also in participation.
Lew Cirne founded New Relic in 2008 to provide an advanced application performance management (APM) solution to businesses of any size through a software-as-a-service offering. Today, New Relic has expanded its software analytics offering to make sense of billions of data points about millions of applications in real time. New Relic offers one powerful interface for web and native mobile applications and consolidates the performance monitoring data for any chosen technology. Last month, the company announced New Relic Insights, a real-time analytics platform that transforms collected data into insights about customers, applications and their business.
“We monitor billions of data points in real-time for tens of thousands of active accounts,” said Cirne, New Relic founder and CEO. “This funding will help us further accelerate company momentum on a global basis, build out our presence among large enterprises and develop both new and existing products, including our real-time analytics platform to enable more organizations make better data-driven business decisions.”
Funds managed by Passport Capital and T. Rowe Price Associates also participated in the previous round of financing in February 2013. New investors BlackRock and Wellington Management join previous investors Allen & Company, Benchmark Capital, Dragoneer Investment Group, Insight Venture Partners, Tenaya Capital and Trinity Ventures. Allen & Company served as financial advisers to New Relic and assisted the company in arranging the financing.
Currently analyzes over 200 billion data points per day for over 3 million application instances from tens of thousands of customers using its New Relic APM and New Relic Mobile products.
In March 2014, introduced New Relic Insights, a real-time analytics platform that collects, stores and presents valuable data directly from modern software, and transforms the data into insights about customers, applications and the business. Delivered as a cloud-based software-as-a-service (SaaS) offering and using New Relic’s lightning-fast and custom-built Big Data database platform, New Relic Insights empowers application developers and business users alike to make ad hoc and iterative queries across trillions of events and metrics and get answers in seconds.
In February 2014, opened first international office, in Dublin, Ireland, to expand presence in Europe, the Middle East, and Africa.
In January 2014, added Sarah Friar, Square CFO, to board of directors.
In December 2013, expanded executive team with addition of Hilarie Koplow-McAdams as Chief Revenue Officer.
About New Relic
New Relic is a software analytics company that makes sense of billions of data points about millions of applications in real time. Our comprehensive SaaS-based solution provides one powerful interface for web and native mobile applications and consolidates the performance monitoring data for any chosen technology in an environment. Tens of thousands of customers use our cloud solution every day, looking to optimize more than 200 billion data points for three million application instances. When the brand and customer experience depend on the performance of modern software, New Relic can provide valuable insight into the overall environment. Learn more at newrelic.com.