throwaway51057

Like Elastic, New Relic is a company held back by incompetent management. I'll let you research about its bigoted and egotistical founder & ex-CEO, and share my anecdotal experience of working under some of his loyalists.

I had the unfortunate experience or working under an ex-NR VP and ex-NR EM at another company they bombed. High ego managers who don't listen to feedback nor admit when they mess up. Bad hires were not dealt with, killing productivity. Bad productivity was addressed by more spreadsheets and top-down directives. Bad morale was not discussed, and addressed by more spreadsheets. Feedback was not welcome, they knew better.

If you are interviewing with a company and find ex-NR management in the org chart, take that as a red flag.

That was a bad surprise for me too, but I understand why they did it this way. They were not after millions of dollars, but a (relatively) small amount.

I'm assuming accredited investors reduce the paperwork / liability and are a better plan A. As they secured their funding target with that scope, they don't need to action the plan B of non-accredited investors. That's less energy spent on investor relations and more on the product.