New Relic raises $100 million in new round of funding
New Relic is an application performance monitoring company that has raised $100 million in a new round of funding. This round of funding was led by BlackRock and Passport Capital. T. Rowe Price Associates and Wellington Management also participated in this round. New Relic has raised a total of $215 million in funding.
New Relic eventually plans to go public and it will be one of the most highly anticipated tech IPOs when it does. This round of funding will buy some time for New Relic to ramp up before going public though. New Relic is going to use the funding for product enhancements and expanding internationally. A couple of months ago, New Relic opened an office in Dublin, Ireland.
This past March, New Relic launched New Relic Insights, a real-time analysis platform that collects and presents data directly from modern software and transforms the data into insights about customers and applications. It has the ability to analyze over 200 billion metrics per day for over 3 million applications.
“We monitor billions of data points in real-time for tens of thousands of active accounts,” stated New Relic founder and CEO Lew Cirne. “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.”