NinjaOne has raised $500 million in a funding round that will see heightened investment and expansion of the firm’s endpoint management offerings.
Bringing its valuation to $5 billion, the funding was led by ICONIQ Growth and CapitalG, Alphabet’s independent investment fund, and other private investors.
NinjaOne said the investment will be used to fund research and development into autonomous endpoint management solutions, autonomous patching solutions, and vulnerability remediation.
Similarly, it plans to invest in expanded IT use cases that improve employee experiences, NinjaOne said, and look to retain the firm’s current level of customer support.
The funding will also be used as part of NinjaOne’s impending acquisition of SaaS platform, Dropsuite, which was confirmed earlier this year. The deal is worth $252 million and will boost NinjaOne’s credentials in the backup and data protection space.
“We solve a growing problem all organizations face as work continues to evolve beyond the office and the number of devices and applications surges – more risk, higher costs, and lower productivity,” Andre Schindler, GM, EMEA, and SVP of Global Sales at NinjaOne, said.
“With this funding, we can continue to help UK organizations overcome these challenges by investing further in product innovations that drive real business outcomes for our UK and global customers,” Schindler added.
CEO Sal Sferlazza echoed Schindler’s comments, calling endpoints the “backbone” of organizations today.
NinjaOne wants to use funding to create value
Christopher Matarese, president and CFO, commented on how NinjaOne will deploy the private equity funding, adding that the firm will prioritize delivering customer value over profit.
“Many private equity funded companies focus on cutting services to increase profits. At NinjaOne, we believe in investing more to provide additional value to our customers,” Matareses said.
“This funding will allow us to commit even more resources to building an unparalleled platform, and we are extremely confident that with Sal’s product leadership, our investments will continue to elevate NinjaOne as the preeminent solution in the market,” he added.
Commenting from the investor perspective, Derek Zanutto, General Partner at CapitalG, added: “Coupled with its terrific culture and exceptional leadership team, we find NinjaOne to be one of the strongest IT software companies in the world.”
“Endpoints are nearly impossible to manage across the enterprise, and CapitalG is committed to helping NinjaOne and its customers succeed where others have failed,” he added.
