Total amount raised
$214.5 Million
Latest funding date
11/1/2023
Location
New Relic has successfully raised funding over 8 rounds, with the latest being a Private Equity round. The company is backed by 17 investors, including notable names like TPG and Accel.
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 in 2008, is a digital intelligence company based in San Francisco, California. The company specializes in providing full-stack visibility and analytics to enterprises, helping them monitor, debug, and improve their software performance.
Operating in sectors such as Analytics, Application Performance Management, Cloud Computing, IT Infrastructure, Mobile, SaaS, and Software, New Relic employs between 1001-5000 people. The company has been acquired by Francisco Partners and continues to innovate in the field of observability and monitoring solutions.
How Much Funding Has New Relic Raised?
- Round Name: Series A
- Amount Raised: USD 3,500,000
- Date: April 2008
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop its initial product offerings.
- Round Name: Series B
- Amount Raised: USD 6,000,000
- 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.
- Round Name: Series C
- Amount Raised: USD 10,000,000
- Date: October 2010
- Lead Investors: Allen & Company, Tenaya Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Round Name: Series Unknown
- Amount Raised: USD 15,000,000
- Date: November 2011
- Lead Investors: DAG Ventures, Four Rivers Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support market expansion and product innovation.
- Round Name: Private Equity
- Amount Raised: USD 80,000,000
- Date: February 2013
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and prepare for a potential IPO.
- Round Name: Private Equity
- Amount Raised: USD 100,000,000
- Date: April 2014
- Lead Investors: BlackRock
- Valuation at Round: Over $1 billion
- Motivation Behind the Round: To accelerate global momentum and develop new products.
- Round Name: 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 expansion post-IPO.
- Round Name: Private Equity
- Amount Raised: Not publicly disclosed
- Date: November 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue innovation and expand market reach.
Total Amount Raised: USD 214,500,000
Current Valuation: Over $1 billion
Key Investors
- TPG
- Details: TPG is a global alternative asset firm with a diverse set of investment platforms. It focuses on leveraged buyouts and growth capital.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Airbnb, Uber, Spotify
- Accel
- Details: Accel is a venture capital firm that invests in early and growth-stage technology companies. It has a strong track record of backing successful startups.
- Investment Focus Areas: Technology, SaaS, cybersecurity
- Notable Investments: Facebook, Dropbox, Slack
- BlackRock
- Details: BlackRock is a global asset management firm known for its extensive range of financial services. It led the $100 million funding round for New Relic in 2014.
- Investment Focus Areas: Asset management, financial services
- Notable Investments: Apple, Microsoft, Alphabet
- Insight Partners
- Details: Insight Partners is a private equity and venture capital firm that invests in growth-stage technology and software companies. It led an $80 million funding round for New Relic in 2013.
- Investment Focus Areas: Software, internet, data
- Notable Investments: Twitter, Shopify, Qualtrics
- Benchmark
- Details: Benchmark is a venture capital firm that focuses on early-stage technology companies. It was an early investor in New Relic.
- Investment Focus Areas: Technology, SaaS, mobile
- Notable Investments: Uber, Twitter, Snapchat
What's Next for New Relic?
New Relic stands at the cusp of significant opportunities, driven by the increasing demand for real-time data analytics and performance monitoring in cloud applications. With a valuation exceeding $1 billion, the company is poised to expand its global footprint and enhance its enterprise presence. The potential for growth is immense, as New Relic already analyzes over 200 billion data points daily for millions of application instances.
As the company continues to innovate, future fundraising opportunities may arise, particularly if they decide to pursue an IPO. This move could provide the necessary capital to further develop their product offerings and solidify their market position. However, challenges such as intense competition and the need to scale their infrastructure to handle massive data volumes remain. Successfully navigating these hurdles will be crucial for New Relic's sustained growth and market leadership.
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