San Francisco — February 5, 2013 — New Relic, Inc., the SaaS-based cloud application performance management provider, today announced that it has raised $80 million in mezzanine financing to help the company expand into the mobile market, extend operations to Europe and increase its enterprise footprint, all 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. The round comes on the heels of another record-breaking year in which New Relic nearly tripled its revenue growth and more than doubled its customer base.
New Relic's software as a service provides real-time visibility into the health of applications to create a more reliable customer experience, whether the applications originate in the cloud, web or mobile environments. Considered the premier SaaS-based application management platform for today’s web applications, New Relic has been adopted by thousands of companies worldwide, including significant deployments with ESPN, Nike and Sony. Additionally, collaboration, ecommerce, gaming and social media businesses such as Comcast, E*Trade, eHarmony, GitHub, Groupon, Mashable, MercadoLibre and Zumba, are using New Relic to significantly lower the costs of maintaining and optimizing business-critical software applications.
Company Growth Metrics
- 18 quarters of consecutive growth
- Industry’s largest installed base for an application performance management solution, achieving 35,000 active customer accounts in five years
- 1 million app instances data is sent to New Relic at any given time
- 85 billion metrics captured every single day across some of the biggest and smallest apps in the world
- Largest repository of application data known to exist
- Nearly tripled revenue growth year over year
- Doubled its customer base, and added over 1,200 paying customers in 4Q2012
- Portland office relocated to more spacious building
Plans for 2013
- In Q1, San Francisco headquarters will move to a larger facility
- Broaden product capabilities to include mobile application management
- Open international offices in Europe
- Learn more at our blog post
- Learn more how the company has grown in our infographic
- To sign up for more info about the upcoming mobile launch, visit newrelic.com/mobile
“Software is running the world, and this is an exciting time to be in the business of making that software run fast. Today we see a huge opportunity to improve the speed, reliability, and effectiveness of software running on mobile devices. There are millions of apps out there for mobile devices – gaming, social and business apps – that have no tools in place for improving the user experience, yet billions of dollars are being poured into mobile app development. In 2013, you’ll see New Relic offer analytics capabilities for native mobile apps that elegantly fill this gap and combine with our proven web app management tool to create the most comprehensive application solution out there.” - Lew Cirne, founder and CEO, New Relic
“With the profusion of mobile devices, social media and web applications in all aspects of everyday life, New Relic’s monitoring and performance management software plays a pivotal role in ensuring a quality user experience. Customer usage expectations are high, and New Relic’s solutions help companies underwrite this experience. We look forward to partnering with management to scale New Relic to be the preeminent provider of performance management solutions to the world’s largest and fastest-growing companies.” - Jeff Horing, managing director and co-founder, Insight Venture Partners
About New Relic
New Relic is the industry’s largest and most comprehensive cloud-based instrumentation platform built to help customers create more perfect software. The world’s best software and DevOps teams rely on New Relic to move faster, make better decisions and create best-in-class digital experiences. If you run software, you need to run New Relic. Learn why more than 50% of the Fortune 100 trust New Relic to make the world’s software run at newrelic.com.
New Relic is a registered trademark of New Relic, Inc.
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Media ContactAndrew Schmitt
New Relic, Inc.
Investor ContactTony Righetti
New Relic, Inc.