NinjaOne Grabs $1.9B Valuation After $232M Series C

Not each large backing rounds spell to generative AI companies.

NinjaOne, which provides endpoint management, information and monitoring, raised a $231.5 cardinal Series C led by Iconiq Growth. The number concern values the Austin, Texas-based steadfast astatine $1.9 billion.

Monitoring and securing endpoints has been a main pillar of cybersecurity since the manufacture started. However, the request whitethorn beryllium adjacent bigger today, arsenic galore radical enactment extracurricular an bureau and with a assortment of networks and devices.

“We are successful the decennary of the endpoint, fueled by a question of workers pushed distant and hybrid during and since the pandemic,” said laminitis and CEO Sal Sferlazza. “Whether you are a (managed work provider) successful complaint of moving and protecting different peoples’ businesses, oregon a CIO successful complaint of one, endpoints airs a important hazard and opportunity.”

NinjaOne automates endpoint absorption for implicit 17,000 customers successful much than 80 countries and witnessed 70%-plus ARR maturation past year.

Big money

The circular is the 5th biggest rise by a U.S.-based startup this calendar year.

The circular besides is the second-biggest of the twelvemonth for a institution related to cybersecurity, down lone Broomfield, Colorado-based Quantinuum’s large $300 cardinal equity fundraise astatine a pre-money valuation of $5 billion.

Venture backing to cybersecurity dropped to its lowest full since 2018 past year. Security companies raised $8.2 cardinal successful 692 task superior deals past twelvemonth — per Crunchbase numbers — compared to $16.3 cardinal successful 941 deals successful 2022.

With immoderate ample rounds this year, backing has picked up a small done the archetypal month-plus, with $1.2 cardinal being raised, per Crunchbase data.

Founded successful 2013, the institution has raised $261.5 million, per Crunchbase.

Related Crunchbase Pro query:

• Cybersecurity Funding

Related reading:

• Quantinuum Raises $300M At $5B Valuation
• Cybersecurity Startup Funding Hits 5-Year Low, Drops 50% From 2022

Illustration: Dom Guzman