- JumpCloud recently announced that it added $25 million in Series E funding, which closes the oversubscribed growth round at $100 million. These are the details.
JumpCloud recently announced that it added $25 million in Series E funding, which closes the oversubscribed growth round at $100 million. Funds managed by BlackRock led the funding round with additional investment from an affiliate of H.I.G. Growth Partners, OurCrowd, and participation from existing investor General Atlantic.
On November 10, JumpCloud had announced its $75 million Series E initial closing and it has now raised in total nearly $200 million. The Series E will be used for expanding product development, marketing, and sales globally. And as part of its move to support growing demand, JumpCloud also announced the addition of Kevin Biggs as Chief Revenue Officer to the executive leadership team.
The growth of the cloud combined with remote work have fundamentally changed requirements for managing and securing access to the resources people use to get work done. And domain-based directories extended through a patchwork of point solutions are too complex and too expensive for many IT teams. JumpCloud reimagined the directory for fitting the modern world with an open, cloud-based directory for secure, frictionless access from any authorized device to virtually any IT resource, anywhere.
JumpCloud is now used by over 100,000 organizations spanning more than 100 countries. And the company works with over 3,000 customers including Cars.com, GoFundMe, ClassPass, Nimbus Therapeutics, Grab, Pulselive, SlimPay, Foursquare, Beyond Finance, and Funding Societies.
KEY QUOTES:
“2020 lock-downs forced organizations to modernize legacy domain-based approaches to IT infrastructure. That has driven demand for JumpCloud’s directory platform, which makes it easier for resource constrained IT teams to adopt a zero trust security model. As global interest in our platform grows, we continue to add experienced talent across our teams. Kevin Biggs is a phenomenal leader who will drive new growth and maturity in our sales organization. His successful track record with Blue Coat, D2L, IBM, and OneLogin, as well as a people focused approach, fit very well with our culture. We are thrilled to have him join.”
— Rajat Bhargava, CEO and co-founder of JumpCloud
“As a fast growing fintech investment platform, we have been happy JumpCloud customers for the past few years. There is nothing like a global pandemic to show you how important JumpCloud’s solution has become to provide secure access to multiple resources, from any location, and from any device. JumpCloud’s comprehensive, yet simple to deploy tools bring the end user back into the center of the concentric cloud circle, thereby truly powering the future of the workplace.”
— Chaim Meir Tessler, general partner at OurCrowd.com
“JumpCloud is revolutionizing the multi-billion-dollar identity & access management (IAM) and device management (DM) sectors with its robust, yet easy-to-use directory solution. The Company’s exponential growth and global customer base is a testament to the massive shift in the way IT professionals manage access, authentication, security, and resources for heterogeneous environments around the world. We believe JumpCloud’s innovative platform uniquely positions it to become the industry leader for SME IT management, and we’re excited to support this next phase of growth.”
— Scott Hilleboe, managing director of H.I.G. Growth Partners
“We started rolling out JumpCloud in January 2020 and then COVID-19 happened. This caused us to shift our plan so we could eliminate disruptions to employees working from home across seven countries. Our rollout during the pandemic allowed us to boost security efforts and at the same time provide us with much better management and visibility capabilities over our endpoints, thus making the work from home situation easy to manage and helping us make progress towards a zero trust architecture.”
— Idan Mashaal, director of cybersecurity at Plus500
