- Directory-as-a-service company JumpCloud announced that it has raised $75 million in Series E funding led by BlackRock. These are the details.
Directory-as-a-service company JumpCloud announced that it has raised $75 million in Series E funding led by BlackRock with participation from existing investor General Atlantic. Including this funding round, JumpCloud has now raised over $165 million.
With this round of funding, the company will expand product development, marketing, and sales globally. Plus JumpCloud plans to hire an additional 500 people over the next several years.
Now JumpCloud is used by more than 100,000 organizations spanning over 100 countries with more than 3,000 paying customers including Cars.com, GoFundMe, ClassPass, Grab, Pulselive, SlimPay, Foursquare, and Beyond Finance. And the JumpCloud platform enables IT to make work happen, providing a modern, easier, and lower-cost cloud solution that allows customers to self-deploy without necessitating a full-scale internal or external technical team.
JumpCloud is known as a better alternative to the patchwork of point solutions integrated with legacy directories that attempt to secure on-premise and remote user access to cloud apps, Windows, Mac, and Linux systems.
KEY QUOTES:
“Our market opportunity is exploding as organizations realize legacy domain-based approaches to IT infrastructure have become barriers to securely getting work done. JumpCloud offers a solution that is both comprehensive and simple – making it easier for IT to adopt a zero-trust access model without infringing on employees ability to do their jobs. With this investment, we will continue our focus on product-led growth, while scaling the business to meet the needs of users and customers around the world.”
— Rajat Bhargava, CEO and co-founder, JumpCloud
“JumpCloud is filling a critical need in the market as companies grapple with the complexity of a remote workforce, and we are thrilled to be leading this round to help further accelerate the company’s success.”
— William Abecassis, head of Innovation Capital at BlackRock
“JumpCloud has been indispensable for us, as we can centrally manage our users’ identity, SSO connections, and RADIUS access from a single platform. JumpCloud integrated seamlessly with a lot of automations, making workflows simple and powerful. It has played a critical role in the automation of our onboarding and offboarding of users. This has resulted in massive savings of time, effort and most importantly, costs.”
— Randy Tanenhaus, IT manager at ClassPass
“Irrimax is growing rapidly, and we need a modern IT infrastructure that can support our business trajectory. Our employees use both Mac and Windows machines and need secure access to our cloud resources to do their jobs. We started our identity management evaluation with Okta and Active Directory, but it became apparent that AD was built in the 90s for an on-premise world. The legacy platform, and heavy integration required creates many complexities – slowing down our ability to get work done. We chose JumpCloud as it enables us to meet all our IAM and SSO requirements from a single cloud platform. The JumpCloud team has been a true partner to Irrimax, and we are thrilled to be a part of their success.”
— David Meyer, vice president of IT at Irrimax Corporation
