JumpCloud, an enterprise cloud service provider that has boomed during COVID, has raised a $100 million Series E funding round that was said to be oversubscribed. The round was led by Blackrock with additional investment from an affiliate of H.I.G. Growth Partners, OurCrowd, and participation from existing investor, General Atlantic.
JumpCloud is currently used by more than 100,000 organizations spanning over 100 countries, with more than 3,000 customers including Cars.com, GoFundMe, ClassPass, Nimbus Therapeutics, Grab, Pulselive, SlimPay, Foursquare, Beyond Finance, and Funding Societies.
JumpCloud previously announced its $75 million Series E closed on November 10, 2020, but $25 million was then added to the round. Since launch, JumpCloud has raised $200 in private capital.
Simultaneously, JumpCloud announced the addition of Kevin Biggs as Chief Revenue Officer to the executive leadership team.
Rajat Bhargava, CEO and co-founder of JumpCloud, said the 2020 COVID induced lock-downs have compelled a digital transformation compelling a modernization of 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 Bhargava. “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.”
Cloud plus virtual operations have fundamentally changed operational work structures. Jumpcloud says that domain-based directories extended through fragmented solutions are too complex and too expensive for many IT teams. JumpCloud addresses this issue with a service that better supports open, cloud-based directories for secure access from any authorized device to virtually any IT resource, anywhere.
Chaim Meir Tessler, General Partner at OurCrowd, said that as a fast-growing Fintech investment platform, they have been a happy JumpCloud customer for years.
“There is nothing like a global pandemic to show you how important JumpCloud’s solution has become to provide secure access to multiple resources, from any location, and from any device. JumpCloud’s comprehensive, yet simple to deploy tools bring the end user back into the center of the concentric cloud circle, thereby truly powering the future of the workplace.”
OurCrowd’s participation in the funding round highlights its ability to participate in the largest of private investment rounds providing unique access for smaller investors to join in top venture offerings. OurCrowd has now booked approximately 40 exits since platform launch including multiple IPOs of portfolio companies.