New Relic Announces $100 Million Investment Round
BlackRock and Passport Capital Funds Lead Latest Financing Round with Participation From T. Rowe Price and Wellington Management
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
As a leader in observability, New Relic empowers engineers with a data-driven approach to planning, building, deploying, and running great software. New Relic delivers the only unified data platform that empowers engineers to get all telemetry—metrics, events, logs, and traces—paired with powerful full stack analysis tools to help engineers do their best work with data, not opinions. Delivered through the industry’s first usage-based consumption pricing that’s intuitive and predictable, New Relic gives engineers more value for the money by helping improve planning cycle times, change failure rates, release frequency, and mean time to resolution. This helps the world’s leading brands including adidas Runtastic, American Red Cross, Australia Post, Banco Inter, Chegg, GoTo Group, Ryanair, Sainsbury’s, Signify Health, TopGolf, and World Fuel Services (WFS) improve uptime, reliability, and operational efficiency to deliver exceptional customer experiences that fuel innovation and growth. www.newrelic.com.