New Relic Raises $80M in Mezzanine Financing; Plans IPO

New Relic, Inc., a San Francisco, CA-based provider of SaaS application management solutions, raised $80m in mezzanine financing.

According to a written statement, the company is planning a public offering.

The round was led by Insight Venture Partners, with participation from accounts managed by T. Rowe Price Associates, Inc., Dragoneer Investment Group LLC, Passport Ventures LLC, and existing investors Allen & Company, Benchmark Capital, Trinity Ventures and Tenaya Capital.

The company intends to use the capital to expand into the mobile market, extend operations to Europe and increase its enterprise presence.

Led by Lew Cirne, founder and CEO, New Relic provides a software as a service solution that provides real-time visibility into the health of applications to create a more reliable customer experience, whether the applications originate in the cloud, web or mobile environments. The company’s platform has been adopted by thousands of companies worldwide, including ESPN, Nike, Sony, Comcast, E*Trade, eHarmony, GitHub, Groupon, Mashable, MercadoLibre and Zumba.
In this first quarter of 2013, the company will move to a larger facility, broaden product capabilities to include mobile application management and open international offices in Europe.



Useful Links: Why New Relic Is Raising $80 Million Now

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