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February 7, 2024
NinjaOne, the builder of IT management platforms for MSPs and IT departments, has raised $231.5 million in a Series C funding round led by Iconiq Growth.
Frank Slootman, Snowflake’s chairman and CEO, Amit Agarwal, Datadog’s president, and others also invested in the funding round. With this financing, Iconiq Growth general partner Roy Luo has joined NinjaOne’s board of directors.
This funding round values the company at $1.9 billion.
With a 70%-plus growth rate, NinjaOne is experiencing a period of hypergrowth, surpassing 17,000 customers, and supporting 7 million endpoints for MSP and IT teams globally.
NinjaOne's Joe Lohmeier
Joe Lohmeier, NinjaOne’s vice president of global channel sales, said this is the decade of the endpoint.
“Organizations need visibility, security and control over their sprawling devices – and NinjaOne delivers just that,” he said. “Our focus is on making our customers and partners successful by continuing to invest in building and delivering strong products and world-class customer support. With this investment, it’s even easier for partners to bring value to their businesses.”
Partners are essential to NinjaOne’s growth and future, Lohmeier said.
“NinjaOne is a channel-first company, and we’re committed to building a program that empowers our distributors, resellers and MSPs to support their customers to grow their businesses,” he said. “Our partner community is an essential part of the team that makes our customers successful, and we are excited to continue growing alongside our partners.”
The minority investment from Iconiq Growth allows NinjaOne to better support its channel partners through a variety of resources, including training, a newly elevated partner portal, increased market development funds and incremental headcount dedicated to bolstering its channel partners, Lohmeier said.
“We are looking forward to the success our revamped channel program will bring to our partners in 2024 and beyond,” he said.
The NinjaOne platform addresses a wide range of use cases and is the top-rated software on G2 in seven categories, including endpoint management, RMM and patch management. NinjaOne also offers endpoint backup, multi-tenant MSP backup and one-click control for remote support, and integrates with dozens of IT and security technologies.
NinjaOne supports customers in more than 80 countries, including Network Coverage, Nvidia, Prime Care Technologies, the State of California, the University of Oxford and more.
“Under Sal and Chris’s exceptional leadership, NinjaOne has demonstrated impressive product velocity, leading to increased market share, geographic expansion, and customer growth,” Luo said. “We are thrilled to support their dynamic energy, relentless commitment to customer success, and continued growth trajectory via our global platform.”
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