It’s hard to believe, but its been almost 15 years since I first got into business of helping organizations improve the way they deliver critical services online. The remarkable thing is, I can truly say without any hesitation that there’s never been a more exciting time than now in this industry. When you consider all factors at play when it comes to building and deploying web applications–the continued migration of enterprises to the cloud, the rapid pace of innovation in cloud platform service offerings, the growing significance of SaaS delivery model–there is absolutely no question in my mind whatsoever that the opportunity for a company like New Relic to continue its remarkable growth is immense. We’ve come a long way in three years. We are now serving more than 14,000 customers, support 5 programming languages, and have visibility throughout the web app environment.
But we are by no means done. Today we announced that New Relic has taken on an additional $15M round of funding. At the time of the last funding round, I hadn’t anticipated that we would take any further financing. Since then, we’ve delivered several key product capabilities like Real User Monitoring and Server Monitoring, while growing the business as fast as we can along the way. Incredibly, we’ve still not kept pace with the tremendous demand that we are seeing for an effective, SaaS-based solution for managing cloud and web app environments.
New Relic founder and CEO Lew Cirne, Heroku co-founder and CTO Adam Wiggins, and CloudBees RUN@cloud architect Spike Washburn explain the criticality of application performance management in the cloud.
The market for application performance management is a $3 billion market today, and we believe over 80 percent of all web applications will ultimately be managed by SaaS offerings like ours. We have a strong first-mover advantage, and an unprecedented opportunity to redefine web application management, by making it affordable and consumable by everyone. But to accomplish this mission, we need to grow faster! And at the end of the day, the additional funding will help us achieve our goals at a quicker pace.
Additionally, I’m pleased to welcome new strategic investors DAG Ventures and Four Rivers Group who are participating in this round with existing investors Allen & Company, Benchmark Capital, Tenaya Capital, and Trinity Ventures. 2012 is going to be an even more exciting year for us and, we think, an even more rewarding year for our customers than 2011 has been. And this round of financing will allow us to deliver that value to the market even sooner.