JumpCloud, the popular cloud directory service for Mac and PC organizations, has announced that it an addition to an oversubscribed Series E round of funding to continue expanding its operations. The round was led by Blackrock, but its existing investor General Atlantic also participated in the round. Joining the round today is two new investors are H.I.G. and OurCrowd. 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 total Series E round is now at $100 million.
JumpCloud has now raised nearly $200 million to date with the new Series E funding and is well-positioned for growth as it sees increased demand for a cloud-based directory solution and Zero Trust access model for the continued growth of remote work. The funding will be used to expand product development, marketing, and sales all across the world; JumpCloud plans to hire an additional 500 people over the next several years.
JumpCloud is used by more than 100,000 organizations across 100 countries. Customers include Cars.com, GoFundMe, ClassPass, Nimbus Therapeutics, Grab, Pulselive, SlimPay, Foursquare, Beyond Finance, and Funding Societies. The JumpCloud solutions give IT departments an easier to manage and lower-cost cloud directory that integrates with Active Directory but can also be used as a hosted Active Directory replacement.
“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,” said Rajat Bhargava, CEO and co-founder, JumpCloud. “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.”
“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,” said Rajat Bhargava, CEO and co-founder of JumpCloud. “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.”
