NinjaOne, a global platform known for its comprehensive endpoint management, security, and visibility solutions, has successfully secured a substantial $231.5 million in its Series C funding round. The round was spearheaded by ICONIQ Growth, investor in high-growth technology companies. High-profile investors, including Frank Slootman, Chairman and CEO of Snowflake, and Amit Agarwal, President of Datadog, also contributed, demonstrating a great faith in NinjaOne’s innovative approach and rapid growth.
With this most recent round of funding, NinjaOne’s value has risen to an astounding $1.9 billion, securing its position as a major player in the IT sector. The strategic significance of this cooperation is further shown by the appointment of Roy Luo, General Partner of ICONIQ Growth, to NinjaOne’s board of directors as part of the investment agreement.
NinjaOne’s journey, led by CEO and founder Sal Sferlazza, has been characterized by remarkable acceleration, with the company reporting over 70 percent ARR (Annual Recurring Revenue) growth in 2023 alone. This performance probably is a testament to NinjaOne’s effective strategy and the growing demand for sophisticated endpoint management solutions, especially in today’s increasingly remote and hybrid working environments.
The funding will be channeled towards enhancing customer support, driving platform and product innovation, and scaling the business to better meet the evolving needs of its clientele. Mr. Sferlazza emphasized the critical nature of endpoint management in the current era, highlighting the significant opportunities and risks they present for businesses of all sizes.
Managed Service Providers
NinjaOne’s platform is engineered to automate and streamline endpoint management, offering essential visibility, security, and control. The company, which was originally founded to address the limitations of legacy remote monitoring and management (RMM) solutions for Managed Service Providers (MSPs), now serves over 17,000 customers worldwide. Its solution oversees more than seven million endpoints, supporting a diverse range of clients from Hello Fresh and Nvidia to the State of California and the University of Oxford.
In addition to its cutting-edge technology, NinjaOne would be distinguished by its commitment to customer success, providing unlimited and free onboarding, training, and support to every customer, irrespective of size. This customer-centric approach has been a key factor in the platform’s adoption across more than 80 countries.
ICONIQ Growth’s investment in NinjaOne aligns with its history of backing transformative technology companies like Adyen, Datadog, and Snowflake. Roy Luo praised NinjaOne’s leadership for their exceptional product development pace and their ability to capture increased market share through geographic and customer base expansion.
The endorsement from Amit Agarwal, President of Datadog, would further validate NinjaOne’s solution as a critical tool for IT teams grappling with the complexities of endpoint management in the age of hybrid work and the proliferation of personal mobile devices.
NinjaOne’s platform, acclaimed for its comprehensive suite of features, has earned top ratings on G2 in several categories, including endpoint management, RMM, and patch management. With capabilities like endpoint backup and one-click control for remote support, NinjaOne would be poised for continued innovation and growth.
