Blog Post

New Relic claims revenue more than doubled in 2013 on its road to IPO

New Relic, which is gunning for an initial public offering sometime in the not-so-distant future, still won’t talk about specific revenue numbers but it’s now saying that it has more than doubled that undefined number year over year. The 6-year old San Francisco company told me Thursday that its revenue grew 120 percent year over year in 2013.

Asked for more color about its numbers, COO Chris Cook would only say that revenue remains under the $100 million mark (but the implication was not by much) and that the company, which offers its application performance monitoring (and management) services, has lots of paying) customers. “We’re not some $2 million startup growing to $3.5 million, we have big companies using us and impressive growth.”

New Relic's Chris Cook
New Relic’s Chris Cook

Customers include Runkeeper, Tableau(s data), Nike Digital and Gawker Media. Obama for America techies were big New Relic fans and also turned to the company’s service to figure out what was wrong with the site.

Another sign of increased adoption is that 88 companies developed new plug-ins for New Relic’s platform to feed data into New Relic from load balancers, databases and Amazon Web Services for a deeper dive into what’s going on.

Now, New Relic is focusing on its mobile app version, plus a new product — code-named Rubicon — which aims to put all that collected application data to use in new and interesting ways. Using a new custom build database, Rubicon’s goal is to make it easier for developers to make fast queries about what’s going on in their applications.

“It will let you make data-driven decisions by taking all this information around your apps — not just performance data but how the app is used, how people interact with it and do real time iteration of analytics to answer the questions you have fast. No waiting two weeks for a report,” Cook said.

New Relic is hot, no doubt, but it doesn’t have this space to itself. Competitors include up-and-comers like AppDynamics¬†andThousandEyes¬†, as well as tools from legacy companies like CA and Compuware.