One month after the initial close of its Series F financing round, Colorado’s JumpCloud is back with an additional $66 million in capital to bring the raise to $225 million.
The Series F round led by Sapphire Ventures includes additional strategic investment from Atlassian Ventures, CrowdStrike Falcon Fund, NTT Docomo Ventures, Inc., STEADFAST Capital Ventures, Waterman Ventures and OurCrowd.
The additional $66 million funding announced today brings JumpCloud’s total capital raised to over $400 million and boosts the company’s valuation to $2.625 billion. This investment follows the company’s January 2021 $100 million Series E round and more than triples JumpCloud’s valuation.
“Atlassian and CrowdStrike share our vision for delivering IT teams a modern directory platform that simplifies how they secure their organizations and Make Work Happen,” JumpCloud CEO Rajat Bhargava said in a statement. “Across each of our customer bases, IT teams are looking for an alternative to Microsoft for managing and securing infrastructure. With this new investment, we can do deep integration work with both Atlassian and CrowdStrike to make JumpCloud’s open, cloud directory the obvious choice for all our customers.”
JumpCloud’s solution gives customers a cloud-based platform that simplifies user and device management. Since its founding almost a decade ago, the company has grown to nearly 5,000 small to medium-sized customers in over 100 countries.
“Atlassian and JumpCloud share a vision that IT teams can operate in a more modern, open way,” said Chris Hecht, head of corporate development at Atlassian, in a statement. “We’re thrilled to support their efforts to accelerate the adoption of the modern directory platform, and excited to work together on deep integrations across our products.”
Currently, JumpCloud has more than 400 employees and expects to be at close to 500 staff members by the year's end. Prior to the pandemic, the company was hiring only in the Denver area. Now, as it has pivoted to a remote-first model, JumpCloud is hiring anywhere, including internationally.
In September, CMO Cate Lochead said the company is looking to build a core of international employees to grow that side of the business, as they recently brought on a leader in Sydney, Australia.
In December 2019, the company opened a new 29,000-square-foot office in Louisville named JumpCloudia. Since the pandemic began, JumpCloud hasn’t returned to that space. And, in a 2020 interview, Bhargava said he didn’t foresee JumpCloud investing in its real estate portfolio as it would have prior to the pandemic.
In 2021, Denver has seen a growing trend of local companies raising Series E or later rounds. Matillion, Gusto and Guild Education all raised Series E rounds of more than $150 million this year as they grow as private companies.
Before its public debut in 2020, new Denver data giant Palantir raised more than 30 venture rounds and more than $2.5 billion, according to Crunchbase. And, prior to its IPO in July, Denver-based EverCommerce reached unicorn status in 2019 with an undisclosed funding round.
