New Relic Scores $80M, Eyes IPO

San Francisco-based software-as-a-service provider New Relic said today that it has raised $80M in a mezzanine financing round, to help the firm expand into the mobile market, extend in Europe, and prep for a public offering. The financing was led by Insight Venture Partners, and also included T. Rowe Price Associates, Dragoneer Investment Group LLC, Passport Ventures LLC, and Allen & Company, Benchmark Capital, Trinity Ventures and Tenaya Capital. New Relic provides application management software for web, cloud, and mobile applications. The firm said it tripled its revenue growth in 2012 and more than doubled its customer base, and it's now preparing for a future public offering. No financial have yet been released by the company. The firm says it has more than 35,000 customers using its software. More information »


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