New Relic announced $100 million in financing that will fund further product development and expand the company’s international presence.
Funds affiliated with BlackRock, Inc. and Passport Capital, LLC led the round with T. Rowe Price Associates, Inc. and Wellington Management also in participation.
Lew Cirne founded New Relic in 2008 to provide an advanced application performance management (APM) solution to businesses of any size through a software-as-a-service offering. Today, New Relic has expanded its software analytics offering to make sense of billions of data points about millions of applications in real time. New Relic offers one powerful interface for web and native mobile applications and consolidates the performance monitoring data for any chosen technology. 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.
“We monitor billions of data points in real-time for tens of thousands of active accounts,” said 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.”
Funds managed by Passport Capital and T. Rowe Price Associates also participated in the previous round of financing in February 2013. New investors BlackRock and Wellington Management join previous investors Allen & Company, Benchmark Capital, Dragoneer Investment Group, Insight Venture Partners, Tenaya Capital and Trinity Ventures. Allen & Company served as financial advisers to New Relic and assisted the company in arranging the financing.
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