Cloud startup New Relic scores another $100M in funding

Cloud startup New Relic scores another $100M in funding

Summary: The latest VC round bumps New Relic's total funding count up to roughly $215 million since launching in 2008.

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New Relic, a Software-as-a-Service startup focused on application management, just closed another rounding that yielded approximately $100 million.

Led by BlackRock and Passport Capital, this bumps New Relic's total funding count up to roughly $215 million since launching in 2008.

Allen & Company served as financial advisers and assisted in arranging the financing.

Other investors, new and old, include T. Rowe Price Associates, Wellington Management, Benchmark Capital, Dragoneer Investment Group, Insight Venture Partners, Tenaya Capital and Trinity Ventures.

The San Francisco-based company noted in a statement on Monday that it plans to direct the new cash flow toward to ongoing product development projects as well as international expansion.

New Relic opened an office in Dublin, Ireland -- its first location overseas -- in February to serve as its headquarters for operations in Europe, the Middle East, and Africa.

On the product front, the software firm recently unveiled New Relic Insights, a real-time analytics tool for collecting and visualizing valuable data from software that the customer already has.

New Relic touted that the Insights platform is capable of analyzing more than 200 billion metrics per day for over three million applications.

Existing paying customers can get access for free for a limited time. Under the trial program, each account is eligible for one billion metrics stored up to seven days.

Topics: Cloud, Apps, Data Management, IT Priorities, Start-Ups

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