New Relic (NYSE: NEWR) is continuing to forge partnerships in the SaaS space by catering to a highly diverse portfolio of clients in a niche where opportunity abounds.
Functioning as a strategic platform, San Francisco-based New Relic specializes in application performance monitoring for business clients across a variety of sectors. The company also builds custom plugins for companies to collect relevant data.
Behind the scenes of every client partnership, New Relic engineers help client businesses successfully transition to the digital realm by working to ensure that every mobile interaction and site click is flawless, that interfaces are easy to use and that UX is intuitive and accessible to everyone on an onsite team. The business also operates across all stages of the application process, from mobile device to application code in cloud and cloud software itself.
The company bills itself as a tool for clients and a strategic platform for managing the success of modern digital initiatives. New Relic provides tools and insights for B2B customers looking to track business software and how customers use it in real time.
New Relic management has also endeavored to maintain the highest gross margin of any of its SaaS peer by a big margin. This has likely stirred investment and may be a contributing factor to the stock’s strong performance this past year.
Founded by current CEO Lew Cirne in 2008, New Relic boasts over 3 billion data points, 2 million analytic events and 3 billion data points for its customers, which include industry leaders like Domino’s, Major League Baseball and Concur Expense software. These high profile accounts, many of which are in the multiple six figures range, ensure that the company will be delivering the long term returns to shareholders which Cirne insists are a priority.