New Relic Raises $80 Million for Cloud to Mobile Expansion

New Relic Raises $80 Million for Cloud to Mobile Expansion

New Relic, led by for CA Technologies and Wily executives, is raising money now and preparing for a long-term IPO. The company makes cloud-based application performance management and monitoring tools.

New Relic, which develops SaaS-based application performance management and monitoring tools, has raised $80 million to expand into the mobile market. The company, led by former CA Technologies (NYSE: CA) and Wily Technology executives, said it's also striving to scale toward an IPO (initial public offering).

New Relic says it nearly tripled revenues in 2012, though the actual revenue figure remains undisclosed. The company has more than 35,000 active customer accounts and has generated 18 quarters of consecutive growth. True believers include CloudBees, which leverages New Relic top optimize its Java-based cloud platform.

Partner Program

New Relic also has a partner program. It expanded in October 2012 to include New Relic Connect, which is designed to let partners integrate wiht New Relic's app performance data. Early partners include Blitz, a load testing provider in the cloud; enterprise collaboration software provider JIRA/Atlassian; log management service provider Loggly; and web and mobile app testing provider SOASTA, the company indicated at the time.

New Relic CEO Lewis Cirne (pictured) is a performance management veteran. He previously founded Wily Technology and invented that company's flagship performance management solution, Introscope. CA Technologies acquired Wily in 2006.

This time around, Cirne and his team are taking a cloud approach to performance management. Venture capitalists seem intrigued.

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