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Cloud directory platform JumpCloud raised $159M in Series F at a valuation of $2.56B from Sapphire Ventures and others. It came at a time of rapid growth, fueled by its cloud directory and delivery of innovations that expand the number of use cases of IT and other teams
JumpCloud, an open cloud directory platform provider, raised $159 million in a Series F funding round led by Sapphire Ventures at a tripled valuation of $2.56 billion valuation, a press release from JumpCloud said.
An extension of the Series E funding for JumpCloud in November 2020, came in January this year, where it netted $25 million taking the total to $100 million. With the close of this round, JumpCloud has raised over $350 million to date. Its other and existing investors – Owl Rock, Whale Rock Capital, Sands Capital, Endeavor Catalyst, General Atlantic, funds and accounts managed by BlackRock, and H.I.G. Growth Partners – participated in the funding round.
JumpCloud, founded in 2012, provides IT, security and development operations teams a cloud-based solution to control and manage employee identities and devices, and apply Zero Trust principles. Rajat Bhargava, CEO and co-founder, JumpCloud, stated that today’s IT teams have a strategic responsibility of ensuring work completion, 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, he added.
“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.”Rajat Bhargava
JumpCloud stated that the funding came at a time of rapid growth, fueled by its cloud directory and delivery of innovations that expand the number of use cases of IT and other teams. The platform added new features and enhanced its platform in 2021.
Jai Das, partner, president and co-founder of Sapphire Ventures, stated that the VC firm is committed to investing in and building companies of consequence, such as JumpCloud.
“With JumpCloud, we see a company that is using feedback from IT professionals to reimagine how IT and security are done in the coming years,”Jai Das