NinjaOne, a leading IT platform for endpoint management, security, and visibility, recently announced it raised a $231.5 million Series C funding round led by ICONIQ Growth.
Frank Slootman, Chairman and CEO of Snowflake; and Amit Agarwal, President of Datadog; among others also invested in the round. With this financing, ICONIQ Growth General Partner Roy Luo has joined NinjaOne’s board of directors. NinjaOne is a founder-led business that has accelerated every year since its first customer, evidenced by a 70+ percent ARR growth rate in 2023. This minority investment valued the company at $1.9 billion.
“ICONIQ Growth’s investment in NinjaOne is being used to make our customers more successful. We are quadrupling down on customer support, heavily investing in platform and product innovation to solve and automate more use cases, and ensuring the business can scale to meet our customers’ needs”, said Sal Sferlazza, CEO and Founder at NinjaOne. “We are in the decade of the endpoint, fuelled by a wave of workers pushed remote and hybrid during and since the pandemic. Whether you are an MSP in charge of running and protecting other peoples’ businesses, or a CIO in charge of one, endpoints pose a significant risk and opportunity. We are excited and humbled to partner with ICONIQ Growth to fuel our customers’ success”.
Every organisation runs on endpoints, but endpoints are also the source of some of the greatest risks in productivity, security, and costs. More than 50 percent of employees use four to five endpoint devices each day, but a staggering 90 percent of organisations say they cannot even actively monitor all endpoints, according to Enterprise Strategy Group.*
NinjaOne automates endpoint management for more than 17,000 customers who need visibility, security, and control. Originally founded by Sferlazza and President and CFO, Chris Matarese, in 2013 to help MSPs move beyond legacy solutions in remote monitoring and management (RMM), NinjaOne has since expanded to manage more than seven million endpoints for MSP and IT teams. NinjaOne supports customers in more than 80 countries, including Hello Fresh, Network Coverage, Nissan, Nvidia, Pabst Brewing Company, Prime Care Technologies, State of California, and University of Oxford. NinjaOne offers unlimited and free onboarding, training, and support to every customer, no matter how big or small.
ICONIQ Growth, NinjaOne’s newest investor, has made meaningful investments in some of the world’s largest technology companies including Adyen, Datadog, Gitlab, Miro, Snowflake, 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”, said Roy Luo, General Partner at ICONIQ Growth. “We are thrilled to support their dynamic energy, relentless commitment to customer success, and continued growth trajectory via our global platform”.
“Managing endpoints has always been a complex challenge for IT teams. With recent trends in hybrid work and cybersecurity proliferation of personal mobile devices, the problem continues to grow exponentially in complexity and scale”, said Amit Agarwal, President of Datadog. “Sal and the NinjaOne team have a deep understanding of the problem and have built an innovative solution that solves many of these issues for IT teams, and I’m thrilled to participate as an investor”.
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, one-click control for remote support, and integrates with dozens of IT and security technologies.
*Enterprise Strategy Group, a division of TechTarget, Research Publication, Managing the Endpoint Vulnerability Gap: The Convergence of IT and Security to Reduce Exposure; Dave Gruber, Principal Analyst; Gabe Knuth, Senior Analyst; and Bill Lundell, Director of Syndicated Research; May 2023