NinjaOne secures $789 million funding from investors

Sydney based automated endpoint management platform NinjaOne said it has raised US$500 (A$789 million) million in Series C extensions, valuing the company at US$5 billion (A$7.89 billion).

The venture funding came in separate tranches led by ICONIQ Growth and CapitalG, Alphabet's independent investment fund, with participation from other private investors.

NinjaOne plans to direct the fresh capital towards research and development of autonomous endpoint management, patching and vulnerability remediation technologies.

The company will also expand IT use cases to improve employee experiences with devices while maintaining its investment in customer support.

Part of the funding will support NinjaOne's pending US$262 million acquisition of Software as a Service (SaaS) backup and data protection company Dropsuite.

"At NinjaOne, we are investing in innovation across our platform with a vision to make endpoint and patch management as easy and autonomous as possible, while continuing to expand into other AI, IT, and security use cases," Sal Sferlazza, chief executive officer and co-founder of NinjaOne said.

The Sydney-based company remains founder-led and controlled, with no debt.

Co-founders Sferlazza and Chris Matarese will continue as the largest equity holders, with majority voting power.

NinjaOne currently serves more than 24,000 customers globally, including major organisations such as Nvidia, Lyft, Cintas, Vimeo, HelloFresh, The King's Trust, and Porsche.

Over the past year, the company has made significant strides in product development and industry recognition.

"Many private equity funded companies focus on cutting services to increase profits. At NinjaOne, we believe in investing more to provide additional value to our customers," said Matarese, president, chief financial officer and co-founder at NinjaOne.

The company launched 20 product releases including NinjaOne Artificial Intelligence for Patch Sentiment, Mobile Device Management, and free Warranty Tracking.

"By putting the customer at the centre of every decision, Sal and Chris developed a sophisticated yet easy-to-use platform at a time when endpoint growth is surging, leaving legacy solutions behind," Roy Luo, general partner at ICONIQ Growth said.

The endpoint management market continues to expand rapidly as businesses face growing security challenges and the need to efficiently manage distributed workforces.

NinjaOne's managing director M J Robotham said the round of funding couldn’t have come at a better time for the company.

"Our pending acquisition of Dropsuite is a bold step in reinforcing our commitment to the region, and this investment will help make that happen, " Robotham said.

The Dropsuite buy deal is valued at $402 million.