JumpCloud partners with General Atlantic in $50M funding round infusion
Tuesday May 28, 2019
BOULDER -- JumpCloud, the first Directory-as-a-Service platform, announced it partnered with General Atlantic on its most recent round of financing.
Existing investors Foundry Group and OpenView Partners also participated in the round. New York-based General Atlantic is a leading global growth equity investor.
JumpCloud plans to leverage this significant capital infusion of $50 million to expand engineering, sales, and marketing. These investments will continue to drive innovative new functionality for JumpCloud’s customers and Managed Service Provider (MSP) partners.
As JumpCloud’s business continues to expand globally, the company said it also plans on investing in establishing a physical presence in strategic areas around the globe in order to provide a deeper level of support for customers in those regions.
As part of the investment, Gary Reiner, operating partner with General Atlantic since 2010, is joining the JumpCloud board of directors. Reiner brings experience as former chief information officer at GE and a member of the board of directors of several companies, including Citigroup and Hewlett Packard Enterprise.
“We believe that great IT security starts with a great centralized directory, which means JumpCloud belongs at the core of every organization,” said Reiner.
“We are excited to partner with General Atlantic and welcome Gary to our board. After spending significant time with the General Atlantic team, I’m confident that they can be a high impact investor,” said Rajat Bhargava, CEO of JumpCloud.