Wednesday, February 6, 2013

New Relic Raises $80 Million for Cloud App Performance Mgt

New Relic, a start-up based in San Francisco, raised $80 million in mezzanine financing for its SaaS-based cloud application performance management.

New Relic offers a web application performance tool that measures performance from the end user experience, through servers, and down to the line of application code.  The company claims over 35,000 active accounts and millions of app instances monitored.  The company also said it nearly tripled its revenue growth and more than doubled its customer base during 2012.

The funding was led by Insight Venture Partners and included a major investment from accounts managed by T. Rowe Price Associates, Inc. Other participants included Dragoneer Investment Group, Passport Ventures and the company’s existing investors Allen & Company, Benchmark Capital, Trinity Ventures and Tenaya Capital.

In November, New Relic announced at Amazon Web Services’ global customer conference in Las Vegas that it now has 12,000 customers building, deploying and monitoring apps in the cloud. New Relic has been a long-time partner of AWS and charter member of the AWS Solution Providers Program.  It provides 24x7 visibility into the performance of AWS web application environments, including real user monitoring, server resources and app code.


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