February 5th, 2013
Something to celebrate at Portland Lunch 2.0: New Relic lands $80 million in funding
While Portland Lunch 2.0 is always a great excuse to get together, it’s always nice to have something to celebrate. And this month’s hosts just announced some big news: New Relic has secured $80 million in funding led by Insight Venture Partners.
“There are millions of apps out there for mobile devices—gaming, social and business apps—that have no tools in place for improving the user experience, yet billions of dollars are being poured into mobile app development,” said Lew Cirne, founder and CEO, New Relic. “In 2013, you’ll see New Relic offer analytics capabilities for native mobile apps that elegantly fill this gap and combine with our proven web app management tool to create the most comprehensive application solution out there.”
Headquartered in San Francisco, New Relic has a growing Portland presence. And it shows no signs of slowing. They’ve got two entire floors of the US Bancorp tower to fill. And given New Relic’s stats from 2012, it doesn’t look like that will be a problem.
And it’s going to be nice to have another startup with that sort of presence here in town. Even if it’s a branch office.
So what has investors so excited about the potential of the company?
“New Relic’s monitoring and performance management software plays a pivotal role in ensuring a quality user experience,” said Jeff Horing, managing director and co-founder, Insight Venture Partners, who led the round. “Customer usage expectations are high, and New Relic’s solutions help companies underwrite this experience. We look forward to partnering with management to scale New Relic to be the preeminent provider of performance management solutions to the world’s largest and fastest-growing companies.”
Oh. And they’re hiring.