IT platform NinjaOne said on Tuesday it has raised more than $400 million in a funding round that valued it at $12.3 billion, at a time when investors are concerned about AI upending parts of the software industry.
While the sector contends with mounting fears that rapidly evolving AI tools could encroach on the core businesses of traditional software companies, NinjaOne's growth stands out as a sign of steady demand for resilient players in the industry.
The Series C extensions funding round included participation from Wellington Management, Teachers' Venture Growth, Sequoia Capital and ICONIQ, among other investors.
The fundraising marks a sharp increase from February 2025, when the company secured $500 million at a $5 billion valuation in a round led by ICONIQ Growth.
NinjaOne's co-founders Sal Sferlazza and Chris Matarese remain the biggest equity holders in the company.
"Because we are profitable, this raise was never about needing capital to grow. We had a long list of firms interested in providing financing, and we used this round as an opportunity to pick the best possible partners to help us better serve our customers," Matarese said.
Founded in 2013, NinjaOne provides software that helps businesses manage and secure employee devices, automate patching, back up data and enable remote access through a unified platform designed to streamline IT operations and improve efficiency.
The Austin, Texas-based company serves nearly 40,000 customers, including Deloitte, Executech, GoFundMe, Hyundai, Kawasaki, Mitsubishi, it said.
(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shailesh Kuber and Shilpi Majumdar)
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