New Relic Gets $15M for Performance Monitoring App
Software-as-service provider New Relic announced it has closed a $15 million round of funding led by DAG Ventures and Four Rivers Group. Investors Allen & Company, Benchmark Capital, Tenaya Capital, and Trinity Ventures also participated in the round. The company says it will use the capital to meet “overwhelming demand” from companies that are using the company’s web-based application monitoring platform.
The company revealed some figures that back this tremendous amount of growth.
“New Relic has experienced tremendous growth and is one of the fastest growing SaaS companies with over 200 percent year-over-year revenue growth, due to the increased adoption of web applications in the cloud. The company supports over 14,000 active customers including recent additions Comcast, Nike, and Zynga, and manages more than 6 billion user transactions daily.”
New Relic is busy expanding its offering, in addition to growing its userbase. The company rolled out an update just over a week ago that extends users’ ability to monitor their apps on the server side, for free. This includes CPU and memory utilization, network activity and processes.
Prior to this update New Relic rolled out beta support for the Python programming language, and appointed Chris Cook as its new president and COO.
As-a-service adoption among users is driving the growing number of providers to expand to some of the other hot trends in the tech world right now, from big data to mobile.
Quantivo is a company that is hoping to tap an untapped market with an upcoming data analytics-as-service offering that introduces the economic advantages of SaaS to an area that is, at least for now, only open to large companies willing to invest in big data initiatives.
On the other side of the isle, Apsalar raised $5 million in funding in a round led by Thomvest Ventures, Battery Ventures and DN Capital. The company develops a mobile behavioral targeting platform for marketers.
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