H.I.G. Growth Partners Invests in JumpCloud $100M Series E Financing
SAN FRANCISCO – January 12, 2021 – H.I.G. Growth Partners (“H.I.G.”) is pleased to announce that one of its affiliates has invested in the Series E growth financing for JumpCloud, Inc. (“JumpCloud” or the “Company”), a leading cloud-based directory management platform.
Founded in 2012 and based in Denver, CO, JumpCloud empowers IT teams to manage employee directory, single sign-on, multi-factor authentication, identity access management (IAM), and device management (DM) all in a single platform. JumpCloud is used by more than 100,000 organizations spanning over 100 countries, with more than 3,000 paying customers including Cars.com, GoFundMe, Grab, ClassPass, Uplight, Beyond Finance, and Foursquare.
The Series E financing will be used to expand product development, marketing, and sales globally. As part of its move to support growing demand, JumpCloud also announced the addition of Kevin Biggs as Chief Revenue Officer to the executive leadership team.
“2020 lock-downs forced organizations to modernize legacy approaches to IT infrastructure, and has driven demand for JumpCloud’s directory platform,” said Rajat Bhargava, CEO and co-founder of JumpCloud. “As global interest in our platform grows, we continue to add experienced talent. Kevin Biggs is a phenomenal leader with a successful track record from IBM and OneLogin, and he will continue to drive our high-growth sales organization.”
“JumpCloud is revolutionizing the multi-billion-dollar identity & access management (IAM) space with its robust, yet easy-to-use directory solution. The Company’s exponential growth and global customer base is a testament to the massive shift in the way IT professionals manage access and authentication for heterogeneous environments,” said Scott Hilleboe, Managing Director of H.I.G. Growth Partners. “We believe JumpCloud is uniquely positioned to become the industry leader for SME IT management, and we’re excited to support their next phase of growth.”
JumpCloud’s mission is to Make Work Happen®, by providing people secure access to the resources they need to do their jobs. The JumpCloud Directory Platform gives IT, security operations, and DevOps a single, cloud-based solution to control and manage employee identities, their devices, and apply Zero Trust principles. JumpCloud has a global user base of more than 100,000 organizations, with over 3,000 customers including Cars.com, GoFundMe, Grab, ClassPass, Uplight, Beyond Finance, and Foursquare. JumpCloud® is backed by BlackRock, General Atlantic, OpenView, H.I.G. Capital, OurCrowd, and Foundry Group.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with $43 billion of equity capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.