JumpCloud’s Directory Platform delivers a single pane of glass for IT to securely manage all users, devices, and IT resources. The company has now announced an additional $66 million to its latest funding round. It has raised a total of $225 million for this Series F round to accelerate small and midsize enterprise adoption of its directory platform.
The additional $66 million funding announced today closes the company’s Series F at $225 million and brings total capital raised by JumpCloud to over $400 million and the company’s valuation to $2.625 billion.
Investors in the latest funding round believe that companies must move quicker to address rising IT issues, including severe limits and dangers posed by legacy Microsoft directories and the use of numerous point solutions to address those constraints.
The Series F round led by Sapphire Ventures includes additional strategic investment from Atlassian Ventures, CrowdStrike Falcon Fund, NTT Docomo Ventures, STEADFAST Capital Ventures, Waterman Ventures, and OurCrowd. Series F included participation from Owl Rock, Whale Rock Capital, Sands Capital, and Endeavor Catalyst. Existing investors General Atlantic, funds and accounts managed by BlackRock, and H.I.G. Growth Partners participated in the financing as well.
“Atlassian and CrowdStrike share our vision for delivering IT teams a modern directory platform that simplifies how they secure their organizations and Make Work Happen,” said Rajat Bhargava, CEO, JumpCloud. “Across each of our customer bases, IT teams are looking for an alternative to Microsoft for managing and securing infrastructure. With this new investment, we can do deep integration work with both Atlassian and CrowdStrike to make JumpCloud’s open, cloud directory the obvious choice for all our customers.”
According to JumpCloud, the need for a modern cloud directory has emerged from several recent mega trends:
- The sudden transition to remote work, which made on-premises infrastructure, such as Active Directory, ineffective
- The rise of Mac, Linux, and mobile devices in the workplace, which required IT to find new ways to secure and managing non-Windows devices
- Cloud infrastructure is exploding, both as core business applications and for internal development teams
“The threat landscape becomes increasingly more complex by the day. To reduce the risk of cyberattacks, small and midsize organizations must accelerate adoption of enterprise-grade security and IT solutions,” said Michael Sentonas, Chief Technology Officer (CTO) at CrowdStrike. “To do this, organizations of all sizes must have access to scalable, easy-to-deploy, and cost-effective solutions. JumpCloud’s cloud directory platform protects against the weaknesses found in similar legacy products that are being actively exploited by threat actors, and is designed to meet the needs of today’s SMEs. We are excited to support JumpCloud’s efforts and look forward to exploring ways to deliver meaningful integrations for the market.”
“I am excited to invest in and join the JumpCloud journey to provide a better way for companies, mainly IT teams in small- to medium-sized enterprises, to manage remote work environments more securely and efficiently,” said Yuko Sasahara Watanabe, President and CEO, NTT DOCOMO Ventures. “In late September 2021, NTT Group announced our plans to transform operational and management styles for sustainability towards making a more positive impact on society. As part of this initiative, NTT employees will be able to work remotely. This challenge is not easy, but together with JumpCloud, we can provide more flexibility in a distributed remote work environment. We look forward to supporting JumpCloud in the Japanese market. NDV would like to expand various security options to Japanese enterprise customers regardless of the size of the company and working with JumpCloud is a way to do that.”