Total amount raised
$214.5 Millions
Latest funding date
Location
New Relic has successfully raised significant funding through multiple rounds, with its latest being a private equity round. The company has attracted a diverse group of investors, including TPG and Slow Ventures.
Keep reading to explore the intricacies of New Relic's fundraising journey and the investors backing this innovative platform.
What Is New Relic?
New Relic, founded by Lew Cirne on February 1, 2008, is headquartered in San Francisco, California. The company specializes in providing observability and monitoring solutions for software and infrastructure.
New Relic's platform offers full-stack visibility and analytics, helping businesses monitor and improve their digital operations, application health, user experience, and security. Their products include the New Relic Observability Platform, New Relic APM 360, and New Relic Kubernetes Cluster Explorer.
With over 14,000 paid business accounts, New Relic employs between 1001-5000 people, delivering actionable insights to drive digital business results.
How Much Funding Has New Relic Raised?
- Series A
- Amount Raised: $3.5M
- Date: April 2008
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch and develop the initial product offerings.
- Series B
- Amount Raised: $6M
- Date: November 2008
- Lead Investors: Trinity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series C
- Amount Raised: $10M
- Date: October 2010
- Lead Investors: Allen & Company, Tenaya Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance market presence.
- Venture Round
- Amount Raised: $15M
- Date: November 2011
- Lead Investors: DAG Ventures, Four Rivers Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and product innovation.
- Private Equity Round
- Amount Raised: $80M
- Date: February 2013
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand globally and enhance product offerings.
- Private Equity Round
- Amount Raised: $100M
- Date: April 2014
- Lead Investors: BlackRock
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To accelerate global momentum and develop new products.
- Post-IPO Equity
- Amount Raised: Not publicly disclosed
- Date: October 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and market expansion.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: November 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further enhance product capabilities and market reach.
Total Amount Raised: $214.5M
Current Valuation: $6.5 billion
Key Investors
- BlackRock
- Details: BlackRock is a global asset management firm headquartered in New York City. It is one of the world's largest investment management companies.
- Investment Focus Areas: Asset management, technology, financial services
- Notable Investments: Apple, Microsoft, Amazon
- Insight Partners
- Details: Insight Partners is a private equity and venture capital firm based in New York City. It focuses on growth-stage investments in technology and software companies.
- Investment Focus Areas: Technology, software, internet
- Notable Investments: Twitter, Shopify, DocuSign
- Benchmark
- Details: Benchmark is a venture capital firm based in Silicon Valley. It is known for its early-stage investments in technology startups.
- Investment Focus Areas: Early-stage venture capital, technology startups
- Notable Investments: Uber, Twitter, Snapchat
- Trinity Ventures
- Details: Trinity Ventures is a venture capital firm based in Silicon Valley. It focuses on early-stage investments in technology and consumer services.
- Investment Focus Areas: Early-stage venture capital, technology, consumer services
- Notable Investments: Starbucks, New Relic, Docker
- Allen & Company
- Details: Allen & Company is an investment banking firm based in New York City. It specializes in media and technology investments.
- Investment Focus Areas: Investment banking, media, technology
- Notable Investments: Google, Facebook, Twitter
What's Next for New Relic?
New Relic stands at the cusp of significant growth opportunities, driven by the increasing demand for real-time analytics and comprehensive application performance monitoring tools. The company is poised to expand its global presence and deepen its reach among large enterprises, leveraging its ability to analyze over 200 billion data points daily. This vast market potential underscores the scalability of New Relic's offerings.
Future fundraising could see New Relic transitioning to public markets, with an IPO being a likely next step. This move would not only provide the capital needed for further innovation but also solidify its market position. However, the journey ahead is not without challenges. The company must navigate intense competition and ensure its infrastructure can scale to meet growing demands. Successfully managing these hurdles will be crucial for sustaining its momentum and achieving long-term success.
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