JumpCloud — an U.S.-based enterprise software company headquartered in Denver, Colorado — has announced an US$159 million series F round led by Sapphire Ventures with additional participation 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 financing, as well. This investment follows the company’s January 2021 $100M series E, more than tripling the company’s valuation to $2.56B.
JumpCloud’s accelerated growth comes as organizations look for a better way to securely manage hybrid and remote work, according to solutions,” according to Rajat Bhargava, CEO and co-founder. He says that IT teams trying to support a modern workforce have lacked a single solution that supports heterogeneous applications, devices, and security needs.
Many have been forced to adopt a legacy on-premises directory and extend it with multiple standalone solutions like SSO, MFA, and device management — or skip a directory entirely and work from dozens of individual systems to connect employees to resources. Bhargava says JumpCloud provides a superior alternative: a single, comprehensive directory platform that unifies user and device management.
He says JumpCloud’s growth is fueled by its easy-to-adopt cloud directory and rapid delivery of new innovations that expand the number of use cases IT can support from a single platform. In 2021 the company delivered “hundreds of new product features and enhancements to its platform,” Bhargava adds.