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Just two old age ago , VC fund to cybersecurity startups was on fire . Indeed , $ 23 billion glut the sector , perCrunchbase . But in 2023 , cybersecurity upstarts only project a third of that — the result of the exceptional surge in 2021 , bloated valuation and investor mistrustful of market instability .
But there are alwayssomewinners during down times .
Yesterday , NinjaOne , an IT platform for endpoint management , surety and visibility , announcedthat it raise $ 231.5 million in a Series C support round led by Iconiq Growth .
The gigantic round , which was joined by Frank Slootman , the chairman and CEO of Snowflake , and Amit Agarwal , the president of Datadog , values NinjaOne at $ 1.9 billion , according to co - beginner and CEO Sal Sferlazza .
Sferlazza says that NinjaOne was n’t looking to fundraise , but received inward pastime from “ numerous ” potential investors — let in Iconiq , apparently .
“ Iconiq has a strong history of helping top companies like Snowflake , Datadog and CrowdStrike hit their potential , ” Sferlazza told TechCrunch in an email interview . “ We believe an investment from Iconiq would help see that NinjaOne is well - pose for long - term success . We remain focussed on scaling our business and squad to keep to meliorate our mathematical product offering and to indorse our growth globally as our client base and mathematical product offerings mature . ”
Sferlazza and NinjaOne ’s president and CFO , Chris Matarese , launch Austin , Texas - found NinjaOne in 2014 . Sferlazza says that he was closely involved with early development efforts , work with NinjaOne ’s founding team to make endpoint direction , patching and support tools .
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“ We greet a massive pauperism to help organizations contend their endpoints — a motive that only grew with the pandemic undulation of remote and hybrid work , ” he say . “ end point posture a meaning risk of exposure and opportunity in the post - pandemic era , and — amid the unprecedented rise of generative AI — NinjaOne is focused on automating and simplify IT operations for our customer . ”
NinjaOne ’s creature , which are designed to desegregate with existing IT and security platforms , launch the gamut from removed gimmick monitoring and data backup to package deployment , alerting , scripting and app automation . The company take to be managing over seven million endpoints currently for more than 17,000 customers , include Hello Fresh , Nissan , Nvidia , Pabst Brewing Company , the State of California and the University of Oxford .
“ When we founded NinjaOne , we set out to evolve a wide range of merchandise that prioritize customer winner , ” Sferlazza said . “ That remains our turn one precedency today , and this focus has enabled us to originate a strong concern . ”
Today , NinjaOne ’s war chest stands at $ 282.7 million as its revenue raise 70 % year - over - twelvemonth .
Sferlazza says that the proceeds from the late funding round will be put toward expanding NinjaOne ’s ~1,000 - person team and investing in automating “ the hardest portion ” of IT . “ S]treamlining endpoint direction , pad security measure and dissolute - tracking new technology deployment … has allowed us to provide unparalleled customer success , ” he continued .
Added Iconiq ’s Roy Luo , who ’s joined NinjaOne ’s instrument panel of directors , in a press release : “ Under Sal and Chris ’s exceptional leaders , NinjaOne has demonstrate impressive product speed , lead to increased mart parcel , geographical expansion and customer growth . We ’re thrilled to support their dynamic energy , relentless allegiance to client winner , and continued growth flight via our spheric platform . ”
