New Relic, specialist in real-time application monitoring, raises $ 100 million
New Relic has just completed a new funding round with BlackRock Inc., Passport Capital (with T. Rowe Price Associates Inc.) and Wellington Management.
The application management tool New Relic has just completed a fundraising of 100 million dollars from four funds: BlackRock Inc., Passport Capital (with T. Rowe Price Associates Inc.) and Wellington Management, as indicated by the American site TechCrunch.
Founded in 2008 in San Francisco, New Relic offers companies a dashboard in SaaS mode for the monitoring and management of their web and mobile applications, in real time. He claims to this day 35,000 active customers, therefore 5,000 premium service subscribers. It faces almost direct competition from startups like AppDynamics, MSP Mentors or Extrahop Network.
80 million already raised in 2013
“We are monitoring billions of data points in real time for tens of thousands of active accounts,” company founder Lew Cirne said in a statement. “This funding will allow us (…) to establish our presence among large companies and to develop new and existing products, including our real-time analysis platform,” he explains.
In February 2013, the company had already raised 80 million dollars near Insight Venture Partners, Dragoneer Investment Group, Passport Ventures, Benchmark Capital, Trinity Ventures, Tenaya Capital, and Allen & Company. For New Relic, the goal was toimprove its flagship tool and use the data resulting from this mentoring. It also planned to recruit between 300 and 400 additional employees before the end of 2013 and to open at least one European office. Quoted by Venture Beat in February 2013, Lew Cirne, Managing Director of New Relic, even confided to consider an IPO. This new fundraising could therefore be the last before a possible IPO.