- General
- November 10, 2020
- 4 minutes read
JumpCloud Scores $75M Round
Photo credit: #PACOM, licensed under CC BY-NC-ND 2.0 JumpCloud, a Denver-based startup that provides cloud-based tools for managing user identity, has announced that…
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| Photo credit: #PACOM, licensed under CC BY-NC-ND 2.0 |
JumpCloud, a Denver-based startup that provides cloud-based tools for managing user identity, has announced that it’s raised $75 million in Series E funding led by asset management firm BlackRock, with participation from existing investor General Atlantic. With the new round, BlackRock has now raised over $165 million in total outside funding.
JumpCloud says it’ll use its new funding to expand product development and to invest in sales and marketing. The company has plans to hire an additional 500 people over the next several years.
JumpCloud is a platform used by companies to control and manage employee identities and their devices. It’s a cloud-hosted solution that gives IT administrators the ability to manage company-owned devices and ensure security.
JumpCloud operates on a freemium model, with more than 100,000 enterprise users, 3,000 of which are paying. Among the company’s customers include well-known names like Grab, Cars.com, GoFundMe, and Foursquare.
JumpCloud is based out of the city of Denver in Colorado, a city that’s notable for having a high number of technology companies. Notable startups in the city include the likes of Guild Education, Ibotta, and Evercommerce. The city also recently got a major newcomer when data analytics company Palantir moved its headquarters there from Palo Alto in California just before its public offering.
“JumpCloud is filling a critical need in the market as companies grapple with the complexity of a remote workforce, and we are thrilled to be leading this round to help further accelerate the company’s success,” said William Abecassis, head of Innovation Capital at BlackRock.
