Colorado – October 22, 2021 – Cooley advised JumpCloud, a provider of an easy-to-adopt cloud directory platform, on its $225 million Series F round. Lawyers Laura Medina and Kelly Bartling led the Cooley team advising JumpCloud, which announced its first tranche of Series F on September 13 and announced the close on October 19. These investments follow the company’s January 2021 $100 million Series E, more than tripling the company’s valuation to $2.625 billion.
JumpCloud’s accelerated growth comes as organizations look for a better way to securely manage hybrid and remote work with a modern cloud directory platform. The need for a modern cloud directory has emerged from several recent megatrends, including the sudden shift to remote work, the emergence of Mac, Linux and mobile devices in the workplace, and the explosion of cloud infrastructure. These changes fundamentally shift how work gets done and have outpaced IT’s ability to respond with a secure, effective infrastructure – and have opened many new opportunities for cybercriminals.
JumpCloud delivers a better approach. Rather than relying on Microsoft’s legacy directory and multiple add-on point solutions, JumpCloud’s directory platform delivers a single pane of glass for IT to securely manage all users, devices and IT resources. This reduces organizational risk and infrastructure costs and makes life easier for IT, especially for small and medium-sized enterprises do not have the budgets and teams akin to large organizations.
“IT teams have a strategic responsibility to ensure work gets done securely and efficiently,” said Rajat Bhargava, CEO and co-founder of JumpCloud. “The pandemic accelerated their need for an infrastructure platform that is not limited by legacy domain-based approaches or requires multiple point solutions. JumpCloud reimagined the directory with a comprehensive, modern platform that gives IT admins an easier path to adopt zero trust security models for more granular access control, with a user-friendly experience. This investment validates our vision and product-led growth model, which have enabled us to build a product that is easy for IT teams to love.”
“The Cooley team were strategic partners to us during this important Series F,” continued Bhargava. “All of us at JumpCloud thank them for their expertise and diligence working with us and our investors who made this Series F possible.”
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