Software analytics company New Relic announced that it has received a $100 million financing round to support further product development and expand the company’s international presence. The round was led by BlackRock, Inc. and Passport Capital, LLC with T. Rowe Price Associates, Inc. and Wellington Management also in participation. The company has raised a total of $215 million and is valued at over $1.2 billion.
Founded in 2008 by Lew Cirne, New Relic began with an application performance management (APM) solution and has expanded its software analytics offering to make sense of billions of data points about millions of applications in real time. It offers one powerful interface for web and native mobile applications and consolidates the performance monitoring data for any chosen technology.The company was recognized in 2013 by Gartner's magic quadrant as a leader for Application Performance Management. With 70,000 active customer accounts in only five years time, including 500 new, large enterprise customers in the past year, New Relic has acquired more customers, and tracks and optimizes more metrics and applications than any other single APM vendor worldwide.
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. Delivered as a cloud-based software-as-a-service (SaaS) offering and using New Relic’s 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.
“We monitor billions of data points in real-time for tens of thousands of active accounts,” said Lew 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.”