JumpCloud, the cloud-based directory platform for IT professionals, announced Tuesday that it extended its Series F funding round by an additional $66 million, boosting the total funding round to $225 million.
One month ago, JumpCloud reported it had raised $159 million at a valuation of $2.56 billion. The additional $66 million investment brought the funding round to $225 million and raised the company’s valuation to $2.625 billion.
JumpCloud was developed as an alternative to Microsoft’s Active Directory, which was designed to provide secure access to employees working from different Microsoft computers in the same office.
As more businesses shifted to cloud-based devices, Apple products and remote work, tech vendors scrambled to create add-ons such as single sign-on, multi-factor authentication and device management.
Recognizing that this stopgap approach was not affordable or scalable, JumpCloud invented an alternative directory platform that securely connects employees with enterprise systems, applications and other resources through a unified, cloud-based platform.
The platform also allows IT teams to securely manage all users, devices and IT resources, reducing organizational risk and infrastructure costs.
Based in Louisville, Colorado, JumpCloud has raised more than $400 million in capital to date.
The most recent $66 million in funding came from Atlassian Ventures, CrowdStrike Falcon Fund, NTT Docomo Ventures and others.
With the latest round of investment, JumpCloud CEO Rajat Bhargava said the company plans to undergo “deep integration work” with Atlassian and CrowdStrike.
CrowdStrike CEO and co-founder George Kurtz criticized Microsoft Active Directory earlier this year in his congressional testimony about recent hacking incidents.
In a statement, CrowdStrike CTO Michael Sentonas said JumpCloud “protects against the weaknesses found in similar legacy products that are being actively exploited by threat actors, and is designed to meet the needs of today’s [small and medium-sized enterprises].”
Chris Hecht, Atlassian’s head of corporate development, said in a statement that Atlassian is excited to support JumpCloud.
“Atlassian and JumpCloud share a vision that IT teams can operate in a more modern, open way,” Hecht said. “We’re thrilled to support their efforts to accelerate the adoption of the modern directory platform, and excited to work together on deep integrations across our products.”
