JumpCloud raises $159M in funding on strength of Apple enterprise adoption

JumpCloud has announced a $159 million series F round led by Sapphire Ventures, with additional participation in the round from Owl Rock, Whale Rock Capital, Sands Capital, and Endeavor Catalyst. Existing investors General Atlantic, BlackRock, and H.I.G. Growth Partners participated in the funding round, as well.

“JumpCloud has helped us put together all of the identity and device management pieces in a much needed way during the pandemic,” said Kyle McKenna, manager of enterprise technology at Cars.com. “As our company grows, the scalable JumpCloud platform allows us to more easily manage all of our devices and users, which saves us time and resources.”

“IT teams have a strategic responsibility to ensure work gets done securely and efficiently. The pandemic accelerated their need for an infrastructure platform that is not limited by legacy domain-based approaches, or requires multiple point solutions,” said Rajat Bhargava, CEO and co-founder, JumpCloud. “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 recently released its new multi-factor authentication solution to help businesses simplify the rollout of enhanced security. JumpCloud has nearly 5,000 customers across 100+ countries, 1,300 MSP partners, and a 149% net revenue retention rate.

With Mac adoption in small businesses and enterprises increasing, JumpCloud provides a flexible solution for IT teams to manage their devices, centralize SSO, multi-factor authentication, and user management. With this funding round, JumpCloud is now at a valuation of $2.56 billion.

FTC: We use income earning auto affiliate links. More.

Check out 9to5Mac on YouTube for more Apple news:

Source link