New Relic Raises $80m in Mezz Financing

By Angela Sormani — 3 years ago

SaaS-based application management provider New Relic has raised $80 million in mezzanine financing to help the company expand into the mobile market, extend operations to Europe in preparation for a future public offering. Insight Venture Partners led the financing, which also included a major investment from accounts managed by T. Rowe Price Associates, Inc. Other participants included Dragoneer Investment Group LLC, Passport Ventures LLC, and the company’s existing investors Allen & Company, Benchmark Capital, Trinity Ventures and Tenaya Capital.