JumpCloud announced that the company has raised $75 million in Series E funding. The company also stated that the $75 million investment comes as remote work drives continued shift away from legacy, domain-driven IAM solutions, to modern cloud-based directory that enable Zero Trust models. The company has now raised over $165 million in total and it is strongly positioned for rapid growth.
$165 million in total
The company also stated that the funding will be used to expand product development, marketing, and sales globally. JumpCloud also plans to hire an additional 500 people in the next several years. JumpCloud is now used by more than 100,000 organizations spanning over 100 countries, with more than 3,000 paying customers. The company’s platform provides a modern, easier, and lower-cost cloud solution that allows customers to self-deploy, without necessitating a full-scale internal or external technical team. Rajat Bhargava, CEO and co-founder, JumpCloud, said,
“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. 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.”
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