New Relic Opens Product Innovation Center in Hyderabad, India

Rhea-AI Summary

New Relic (NYSE: NEWR) has launched a new Development Center in Hyderabad, India, following the establishment of its first office in Bengaluru earlier this year. This center aims to leverage India's growing tech talent pool to enhance its observability platform, focusing on APM, security, and customer experience. With this expansion, New Relic plans to increase its Hyderabad workforce by 150% within six months. India's market is now New Relic's fastest growth area in Asia, with a commitment to supporting local organizations adopting advanced technologies.

Positive

• Opening of the Hyderabad Development Center enhances New Relic's capability in India.
• Plans to increase workforce in Hyderabad by 150% within six months.
• India is identified as the fastest-growing market for New Relic in Asia.

Negative

• None.

New development center taps into world-class talent to advance innovation across the New Relic observability platform in areas of APM, security, partner integrations, and more

HYDERABAD, India--(BUSINESS WIRE)-- New Relic (NYSE: NEWR), the observability company, is charting an ambitious growth strategy in India by opening its second office in the country, seven months following the opening of its first India office in Bengaluru. The Hyderabad Development Center, a product and engineering hub, will support the world’s fastest-growing talent pool of developers to advance new products across the New Relic observability platform with a focus on core APM and security capabilities, partner integrations, and customer experience.

As Indian organizations race to leverage technologies like blockchain, edge computing, hybrid cloud, and 5G to deliver excellent customer experiences, observability has emerged as an integral factor to drive innovation, uptime, and reliability. Since making inroads in 2020, India is now the fastest growing market for New Relic in Asia. New Relic has strengthened its offerings across key industries, including e-commerce, media and entertainment, retail, financial services, and healthcare, with customers including Swiggy, HealthifyMe, Practo, Unacademy, Capillary Technologies, CaratLane, and ZestMoney. The product and engineering development center in Hyderabad is part of the company’s plans to grow rapidly in the country over the next five years by bolstering its team and capabilities across new verticals. In the next six months, New Relic anticipates growing its team in Hyderabad by 150 percent.

“We reached yet another milestone in India and deepened our commitment to contribute to the country’s technology ecosystem,” said New Relic Chief Growth Officer and Observability Product General Manager Manav Khurana. “Observability is a priority for successful organizations across India, and recognised as a key driver to achieving core business goals. Our growing presence here will enable us to harness India’s world-class tech talent to build out some of the industry’s most innovative observability products, and accelerate best-practice observability adoption across the globe.”

According to the New Relic 2022 Observability Forecast, India-based organizations long for simplicity, integration, seamlessness, and more efficient ways to complete high-value projects. About three-quarters of respondents surveyed in India said C-suite executives in their organizations are advocates of observability, and 86% saw observability as a key enabler for achieving core business goals, which implies that observability has become a board-level imperative.

“The growing relevance of observability to optimize and build better software is more evident than ever, especially in a burgeoning market like India,” said New Relic General Manager, Enterprise Business India Vidhur Bhagat. “Our Hyderabad Development Center will serve our dynamic and ever-growing customer base as they seek enhanced productivity, collaboration, and innovation. New Relic’s unified data platform and analysis tools will empower engineers and developers at every stage of the software lifecycle, and deliver better outcomes.”

New Relic is committed to investing in and enriching India’s technology ecosystem, both through its growing presence on the ground and via New Relic University, a free global training platform for budding developers to sharpen their skills in observability through industry best practices and resources. Participants can register for courses via the New Relic University website.

Individuals interested in career opportunities with New Relic in India may visit New Relic Careers.

About New Relic

As a leader in observability, New Relic empowers engineers with a data-driven approach to planning, building, deploying, and running great software. New Relic delivers the only unified data platform that empowers engineers to get all telemetry—metrics, events, logs, and traces—paired with powerful full stack analysis tools to help engineers do their best work with data, not opinions. Delivered through the industry’s first usage-based consumption pricing that’s intuitive and predictable, New Relic gives engineers more value for the money by helping improve planning cycle times, change failure rates, release frequency, and mean time to resolution. This helps the world’s leading brands including adidas Runtastic, American Red Cross, Australia Post, Banco Inter, Chegg, GoTo Group, Ryanair, Sainsbury’s, Signify Health, TopGolf, and World Fuel Services (WFS) improve uptime, reliability, and operational efficiency to deliver exceptional customer experiences that fuel innovation and growth. www.newrelic.com.

Forward-looking statements

This press release contains “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to statements regarding identified market trends, our growth plans and commitments in India, and any anticipated benefits, results and future opportunities related thereto. The achievement or success of the matters covered by such forward-looking statements are based on New Relic’s current assumptions, expectations, and beliefs and are subject to substantial risks, uncertainties, assumptions, and changes in circumstances that may cause New Relic’s actual results, performance, or achievements to differ materially from those expressed or implied in any forward-looking statement. Further information on factors that could affect New Relic’s financial and other results and the forward-looking statements in this press release is included in the filings New Relic makes with the SEC from time to time, including in New Relic’s most recent Form 10-Q, particularly under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Copies of these documents may be obtained by visiting New Relic’s Investor Relations website at http://ir.newrelic.com or the SEC's website at www.sec.gov. New Relic assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221018005039/en/

Media Contact

Elena Keamy

New Relic, Inc.

PR@newrelic.com



Investor Contact

New Relic, Inc.

503-336-9280

IR@newrelic.com

Source: New Relic Corporate Communications

FAQ

What is New Relic's new development center in Hyderabad focusing on?

The new development center in Hyderabad will focus on enhancing New Relic's observability platform, particularly in areas like APM, security, and partner integrations.

When did New Relic open its first office in India?

New Relic opened its first office in India, located in Bengaluru, seven months before launching the Hyderabad Development Center.

What is the anticipated workforce growth at New Relic's Hyderabad location?

New Relic anticipates growing its workforce in Hyderabad by 150% within the next six months.

Why is India significant for New Relic's expansion strategy?

India is significant for New Relic's expansion strategy as it is the fastest growing market for the company in Asia, showcasing a strong demand for observability in various industries.

What technologies are driving New Relic's focus in the Indian market?

New Relic's focus in India is driven by technologies such as blockchain, edge computing, hybrid cloud, and 5G.