SAN FRANCISCO, CA -- (Marketwire) -- 02/05/13 -- New Relic Inc., the SaaS-based application 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 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
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