Boulder's JumpCloud, a directory-as-a-service company simplifying identity management, announced that they've raised $50 million and will open a new downtown Denver office.
Growth equity investor General Atlantic led the round, with participation from existing investors Foundry Group and OpenView Partners.
Rajat Bhargava, co-founder and CEO of JumpCloud, announced the moves in a series of blog posts on the company's website on May 23.
"JumpCloud plans to leverage this significant capital infusion of $50 million to add over 200 team members over the next two years including the expansion of engineering, sales and marketing," he wrote.
While the company will look to add 200 employees in the next two years, at least 50 engineers will call the JumpCloud's new downtown Denver office home.
"With the Denver facility near Union Station, JumpCloud will now be able to attract talent from all across the Front Range with the benefits of public transportation," Bhargava wrote in a blog post. "The Denver tech community continues to rapidly expand and grow with tremendous talent emerging from local universities, coding schools and academies, as well as transplants from other parts of the country."
JumpCloud's identity management platform provides users with one set of credentials to securely access all of their systems, apps, networks and file servers. The company, founded in 2012, works with more than 200,000 organizations, including HelloFresh, CarGurus and ClassPass.
In his blog post announcing the Denver office, Bhargava hinted at opening future office spaces saying, "we also plan on investing in establishing a physical presence in strategic areas around the globe." The company is building a strong, multi-city Colorado presence, but expansion outside of the state seems likely in the future.
Wrapping up a busy day of announcements, JumpCloud will add Gary Reiner, Operating Partner with GA, to its Board of Directors. Reiner previously served as SVP and CIO at General Electric where he oversaw IT, M&A, and operations.
This funding round brings JumpCloud's total equity funding to more than $80 million, according to Crunchbase.
