JumpCloud Raises $159 Million at $2.56 Billion Valuation
Latest in cybersecurity.
User and device management provider JumpCloud on Monday announced that it has raised $159 million in Series F funding at a $2.56 billion valuation. To date, the company has raised $350 million in funding.
The funding round was led by Sapphire Ventures, with participation from existing investors General Atlantic and H.I.G. Growth Partners, and new investors Endeavor Catalyst, Owl Rock, Sands Capital, and Whale Rock Capital.
JumpCloud’s solution brings together user and device management capabilities, helping organizations securely manage hybrid and remote work from a single directory platform.
The company claims to have a user base of over 100,000 organizations and to be serving 5,000 customers in more than 100 countries, while working with roughly 1,300 MSP partners.
This year, JumpCloud closed a $100 million Series E funding round, launched the JumpCloud Protect mobile push multi-factor authentication (MFA) application, added Zero Touch Enrollment for Macs to its device management portfolio, added hundreds of out-of-the-box single sign-on (SSO) connectors for business apps and cloud platforms, and improved its Multi Tenant Portal (MTP).
“JumpCloud reimagined the directory with a comprehensive, modern platform that gives IT admins an easier path to adopt Zero Trust security models for more granular access control, with a user-friendly experience. This investment validates our vision and product-led growth model, which have enabled us to build a product that is easy for IT teams to love,” JumpCloud CEO and co-founder Rajat Bhargava says.
Ionut Arghire is an international correspondent for SecurityWeek.
via SecurityWeek https://ift.tt/2BkoQoy
September 14, 2021 at 04:10AM