- JumpCloud, a Boulder, Colorado-based directory-as-a-service platform company announced it raised $50 million in funding
- General Atlantic led the funding round and existing investors Foundry Group and OpenView Venture Partners also joined
- Gary Reiner is joining JumpCloud’s board in conjunction with this round of funding
Boulder, Colorado-based JumpCloud, a directory-as-a-service platform company, announced it has raised $50 million in funding. General Atlantic led this funding round and existing investors Foundry Group and OpenView Venture Partners also participated.
With this round of funding, JumpCloud is planning to expand on its engineering, sales, and marketing teams. And the funding will continue to drive innovative new functionality for JumpCloud’s customers and Managed Service Provider (MSP) partners.
Plus JumpCloud will be using the funding to open a new office in Denver, Colorado. And JumpCloud may set up additional operations in India and the Asia-Pacific region.
In conjunction with this round of funding, General Atlantic operating partner Gary Reiner is joining JumpCloud’s board. Reiner is the former CIO at GE and a member of the board of directors of several companies such as Citigroup and Hewlett Packard Enterprise (HPE).
“We are excited to partner with General Atlantic and welcome Gary to our board. After spending significant time with the General Atlantic team, I’m confident that they can be a high impact investor,” said JumpCloud CEO Rajat Bhargava in a statement.
The round has not been fully closed out yet. JumpCloud chief strategy officer Greg Keller told BizWest that the $50 million raise is part of a $75 million offering. And the $75 million has the potential option to grow.