New Relic, which provides application performance management for the cloud and data centers, on Wednesday announced that it has raised $15 million in new funding. The expansion round was led by new investors DAG Ventures and Four Rivers Group, with participation from existing investors Allen & Co., Benchmark Capital, Tenaya Capital and Trinity Ventures, New Relic reported. The new round brings New Relic’s total VC to $34.35 million, according to Thomson Reuters (publisher of peHUB).
New Relic, based in San Francisco, previously raised a $3.35 million Series A from Benchmark in September 2008; a $6 million Series B from Benchmark and Trinity in November 2008; and a $10 million Series C from Benchmark, Trinity, Allen & Co. and Tenaya in October 2010, Thomson Reuters reports.
PRESS RELEASE
New Relic Closes $15 Million Expansion Round
Rapid Growth Attracts New Strategic Investors DAG Ventures and Four Rivers Group
SAN FRANCISCO, CA, Nov 16, 2011 (MARKETWIRE via COMTEX) — New Relic, the SaaS-based cloud application performance management provider, today announced that it has closed a $15 million expansion financing round led by new strategic investors DAG Ventures and Four Rivers Group with participation from existing investors Allen & Company, Benchmark Capital, Tenaya Capital, and Trinity Ventures. The funding will be used to scale the business to meet overwhelming demand from small, mid-size and enterprise organizations for a SaaS-based solution to manage their cloud application environments.
Highlights
– New Relic has experienced tremendous growth and is one of the fastest
growing SaaS companies with over 200 percent year-over-year revenue
growth, due to the increased adoption of web applications in the
cloud. The company supports over 14,000 active customers including
recent additions Comcast, Nike, and Zynga, and manages more than 6
billion user transactions daily. The company also recently announced
the addition of new President and Chief Operating Officer, Chris
Cook.
– Announced last week, New Relic’s Server Monitoring saw more than 5,000
deployments in the first four days. Server Monitoring is the third
critical component in New Relic’s single SaaS product, which also
provides end user monitoring and application monitoring for complete
visibility into application performance.
– New Relic is the only provider to support all major web languages,
including Ruby, PHP, Java, .NET and Python. The company manages more
cloud-based applications than all other providers combined and counts
leading PaaS providers Heroku, EngineYard, CloudBees, Acquia and
ActiveState among its cloud partners.
Supporting Quotes
– Lew Cirne, New Relic Founder and CEO: “The market for application
performance management is a $3 billion market today, and we believe
over 80 percent of all web applications will ultimately be managed by
SaaS offerings like ours. We have a strong first-mover advantage, and
an unprecedented opportunity to redefine web application management,
by making it affordable and consumable by everyone.”
– Peter Fenton, Benchmark Capital, New Relic Board Chairman: “Web
applications are at the heart of almost every business today, big and
small. More and more companies are moving app development into the
cloud so they can focus on feature development and scale quickly with
demand. And with New Relic’s business model, instead of taking
customers’ dollars and putting them into sales and marketing, they
invest far more in product and engineering, giving users the best
imaginable application development with frictionless adoption.”
– Nicholas Pianim, Managing Director, DAG Ventures: “We’ve been watching
New Relic’s progress for quite a while. The rapid growth of their
business and user community, as well as the expansion of their product
in such a short period of time is remarkable. They are the only SaaS
APM provider prepared to service this multi-billion dollar market in
the years to come.”
– Chris Cook, New Relic President & COO: “New Relic has a clear
vision for the future of this market and is uniquely positioned to
reshape what it means to manage web applications. Businesses need to
be able to monitor applications as quickly as they build them,
regardless the language or platform they use, whether in the cloud or
on-premise. We look forward to innovating even more new technology
features within the product and expanding our business to meet
increasing demand from enterprise organizations.”
About New Relic
New Relic, Inc. is the all-in-one web application performance management provider for the cloud and the datacenter. Its SaaS solution, which combines real user monitoring, application monitoring, and availability monitoring in a single solution built from the ground up, changes the way developers and operations teams manage web application performance in real-time. More than 14,000 organizations use New Relic to optimize over 6 billion transactions in production each day. New Relic also partners with leading cloud management, platform and hosting vendors to provide their customers with instant visibility into the performance of deployed applications. New Relic is a private company headquartered in San Francisco, Ca. New Relic is a registered trademark of New Relic, Inc. To learn more, www.newrelic.com.
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