New Relic: Rubicon, Mobile, Thoughts On IPO
New Relic is one of the largest application performance monitoring companies that exists today. Based in San Francisco, California, New Relic raised about $175 in venture capital and their next major milestone will likely be an IPO. New Relic will be hosting their first developer conference today and tomorrow called FutureStack.
New Relic collects billions of metrics from live production software from 70,000 customers. New Relic’s software runs in production sends deep data about how applications are doing minute-by-minute. New Relic has around 8,500 paying customers, but have only 35 support reps for the whole company. Some of their customers include Groupon, GitHub, Disney, and Nike.
“This company has immense opportunity,” stated New Relic founder and CEO Lewis Cirne in an interview with VentureBeat. “It depends heavily on how well we break out of APM [application performance management]. An APM company can be a billion-dollar business, but we want to break out of that in the long term.”
New Relic has also launched a new product called Rubicon. Rubicon is a business-focused database and user interface that gives business people the same power that APM products give developers.
Cirne actually built Rubicon while on vacation in Cabo San Lucas throughout the month of August. Rubicon will be launching next year and is called New Relic’s “second act.” The name Rubicon came to Cirne while he was on another vacation at Lake Tahoe’s Mt. Rubicon last January.
Even without Rubicon’s projections, New Relic is expected to hit $100 million in SaaS revenues for 2014 and business is expected to double in 2013.
New Relic For Mobile
Cirne and the New Relic team is going to announce New Relic for mobile. New Relic will track all the threads running inside iPhones and will instrument the code inside the handset to see how long it takes to refresh feeds. “I’m sure you’ve had the experience when an app takes eight second to do something and it won’t tell why, it probably won’t launch again. If mobile is at all important to you you have to have something like this and we’re going to be the only people in town doing it,” added Cirne in an interview with AllThingsD.