New Relic, which provides an on-demand dashboard for monitoring an enterprise's software applications, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Its suite of SaaS products allow business users to analyze application usage data so that a company's development group can quickly fix application performance issues while non-IT personnel can determine the effectiveness of a product's launch.
New Relic lists Splunk ( SPLK ), which has gained nearly 300% from its April 2012 IPO, among its competitors.
The San Francisco, CA-based company, which was founded in 2007 and booked $85 million in sales for the 12 months ended September 30, 2014, plans to list under the symbol NEWR. New Relic initially filed confidentially on April 24, 2014. Morgan Stanley and J.P. Morgan are the joint bookrunners on the deal. The filing did not list an exchange and no pricing terms were disclosed.
The article Software analysis software: New Relic files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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