New Relic raises $80M

New Relic raises $80M

San Francisco software company New Relic raised $80 million from investors. The company has a large presence in Portland.

“We’re going to invest heavily in R&D, expanding into new businesses and preparing for an IPO and life as a public company,” [Founder and CEO Lewis] Cirne said. “We have a deep pipeline of product initiatives.”

That starts with mobile software, which New Relic expects to roll out this quarter. To date, the company has served 35,000 customers with technology that lets them locate bugs in their applications using a web-based dashboard. For a site that’s slow or not responding, the client can drill down to see if it’s a problem with the network, a failed server or a spike in traffic. Customers range from long-established businesses such as Nike and Sears to emerging web companies including Airbnb and Github. New Relic is taking on tech giants such as IBM, Hewlett-Packard and CA (which acquired Wily) by offering subscription software for $24 or $149 per month per server and a free product with fewer features.

Read more at OregonLive.com.

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