Colorado’s Louisville on September 13, 2021. JumpCloud has now revealed a $159 million Series F investment, which was headed by Sapphire Ventures and included participation from Owl Rock, Whale Rock Capital, Sands Capital, and Endeavor Catalyst. The financing also included participation from General Atlantic, funds and accounts administered by BlackRock, and H.I.G. Growth Partners. This investment comes after the company’s $100M series E investment in January 2021, which more than tripled the company’s valuation to $2.56B.
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Organizations are searching for a better approach to safely handle hybrid and remote work, which has resulted in JumpCloud’s rapid growth. IT teams have struggled to provide a single solution that addresses the diverse applications, devices, and security requirements of a modern workforce. In order to link employees to resources, many have been compelled to either adopt a traditional on-premises directory and expand it with numerous independent solutions like SSO, MFA, and device management, or forgo a directory entirely and operate from dozens of different systems. A single, comprehensive directory platform that integrates user and device administration is offered by JumpCloud as a better option.
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Kyle McKenna, manager of corporate technology at Cars.com, said: “JumpCloud has helped us tie together all of the identity and device management aspects in a much required way during the epidemic.” The scalable JumpCloud platform helps us manage all of our devices and users more easily as our business expands, which saves us time and money.
JumpCloud is the modern, easier, and more affordable choice for managed services providers (MSPs) and small to medium-sized company (SME) IT teams worldwide to connect their consumers to the IT resources they require and enhance security. The business currently has 1,300 MSP partners, approximately 5,000 customers in more than 100 different countries, and a net revenue retention (NRR) rate of 149%.
To guarantee that work is completed securely and effectively, IT teams have a strategic duty. According to Rajat Bhargava, CEO and co-founder of JumpCloud, the epidemic hastened their requirement for an infrastructure platform that is not constrained by outdated domain-based approaches or necessitates numerous point solutions. JumpCloud reinvented the directory with a thorough, contemporary platform that provides IT administrators with a simpler way to embrace Zero Trust security models for more precise access control, with a user-friendly experience. This investment confirms the validity of our strategy, which has allowed us to develop a solution that IT teams adore.
JumpCloud’s rapid delivery of new technologies, which increase the range of use cases IT can serve from a single platform, and its simple to use cloud directory are what are driving the company’s growth. The business added hundreds of new features and improvements to its platform in 2021, including:
Introduced JumpCloudProtectTM, a new mobile push MFA app for iOS and Android devices that uses single-touch verification to confirm identity. JumpCloud Protect is a simple-to-use substitute for MFA elements like time-based one-time passwords (TOTP) and is simple to install and manage. Customers of JumpCloud are no longer required to employ point MFA solutions thanks to the launch of JumpCloud Protect.
By combining Apple Business Manager with JumpCloud MDM for Mac computers and workstations, expanded device management with Zero Touch Enrollment for Macs enables IT administrators to automate MDM enrollment and device deployment. This method enables Macs to be configured and set up automatically upon initial bootup, doing away with the need for IT administrators to handle each device individually before giving it to the employee who will use it. Zero Touch Enrollment has made it unnecessary for JumpCloud users to employ point MDM solutions.
SSO connections for the most popular business apps and cloud platforms, such as BambooHR, AWS, Calendly, etc., have been added in their hundreds. Through SAML SSO, SAML Just in Time (JIT), and SCIM, as well as securing users with an additional layer of MFA, further new SSO capabilities enable IT teams to establish and manage user accounts in applications anyway they wish. Customers of JumpCloud are no longer required to employ point SSO solutions thanks to our fully integrated SSO offering, which consolidates the various tools IT uses for access management.
improved and increased the capability of its Multi Tenant Portal (MTP) to improve user provisioning capabilities for MSPs. This is crucial because MSPs are quickly transitioning from providing device-centric services to those that are user- and identity-centric. The strategic value that MSPs may offer is increased by this improved MTP. Additionally, by securely combining device and identity management into a single interface and lowering the number of point solutions MSPs need to cover a range of use cases for their clients, it offers a more contemporary approach to IT infrastructure.
“Sapphire Ventures is dedicated to funding and establishing significant businesses. According to Jai Das, partner, president, and co-founder of Sapphire Ventures, “With JumpCloud, we see a firm that is harnessing feedback from IT professionals to reinvent how IT and security are done in the next years.
Casber Wang, vice president at Sapphire Ventures and the newest board observer for JumpCloud, said, “We’re thrilled to join with Rajat and the JumpCloud team on their ambition to disrupt the identity market with their industry-leading cloud directory platform. “JumpCloud has established itself as the go-to platform for the IT admin community by integrating access to identity, device, and cloud infrastructure resources into a single, secure platform. We are beyond thrilled to participate in JumpCloud’s progress.
According to Albert Koh, vice president at Owl Rock, “JumpCloud has been providing a wonderful client experience for for a decade now and has established the best-in-class directory platform, enabling organisations of all sizes to solve their identity, access, and device management requirements.” We are thrilled to help JumpCloud in their next stage of development.
Clients Adore JumpCloud
“To me, this resembles Git for Users/Devices in that I have faith that this is where my Users/Devices reside, rather than dispersed over other unrelated platforms. Additionally, Linux has dead simple SSH with MFA. I’M MINDBLOWN! — G2 user testimonial
“AutoSavvy employs people nationwide and has more than a dozen retail outlets spread throughout several states. For PCI compliance, we required a system to manage both devices and access control. We had to act quickly because time was of the importance. JumpCloud was the ideal choice because we could remotely deploy it and use the platform to manage cloud authentication and SSO. — AutoSmart, Robert Jones is a systems analyst.
JumpCloud is the only SaaS-based solution that can offer an authoritative directory, an IdP for SAML, and device management all in one. Furthermore, “JumpCloud Is A Robust Toolkit That Goes Beyond SSO.” — Client testimonials from Gartner Peer Insights.
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In thirteen vendor product categories, including Identity and Access Management (IAM) software, Single Sign-On (SSO), Cloud Directory Services, Privileged Access Management, and User Provisioning and Governance Tools, Fall2021 G2 Grids named JumpCloud a Leader.
Based on rankings for the Best Mid-Market Product, Best Remote Work Product, Best Software Product, and Best IT Cloud Management, G2 also selected JumpCloud the “Best Software in 2021.”
At the RSA Conference in 2021, CRN listed JumpCloud as one of the top cybersecurity tools.
JumpCloud was listed by ZDNet as one of the top identity access management (IAM) software solutions.
JumpCloud won the SMB Cybersecurity Cutting Edge award at the 2021 Global InfoSec Awards, according to Cyber Defense Magazine.
JumpCloud was named one of the top businesses offering zero trust solutions by Threat Technology.
JumpCloud was recognised as the Identity, Access, and Management Cloud Security Product of the Year by Computing.
JumpCloud was ranked among the top startups in America by Forbes in 2021.
According to a JumpCloud study, 70% of SMEs will always provide a work-from-home option.
Zero Trust Security: A Revolutionary Method to Secure Your Hybrid Workplace is the title of a white paper.
A Practical Guide to a Zero Trust Implementation, according to Forrester study.
2021 State of IAM and Security: Opportunities and Threats, ESG Webinar.
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