JumpCloud raises $3 million for expansion
Last Updated: 16:05 January 23, 2014
JumpCloud chief executive Rajat Bhargava said the cash will be used to help fuel continued expansion of the Boulder-based company.
Launched in September 2012, JumpCloud provides a software-as-a-service product that automates server-management tasks for development operations and information technology teams.
JumpCloud previously had raised $1.2 million in seed funding from Foundry Group, bringing the company's venture capital total to date to $4.27 million.
"The business is growing quickly so we need to continue to have more capital to continue to expand," Bhargava said. "If we grow as fast as we've been growing, we're going to have to add a lot of people pretty quickly."
JumpCloud does not release revenue or employee headcount figures. But Bhargava said the new funding will help increase headcount in engineering and sales. The company will also continue to expand its platform and technical infrastructure.
"We've added a whole bunch of new product features," Bhargava said. "We'll continue to see that, and you'll continue to see a bunch of announcements over the next two to three months that will continue to show platform expansion."
In December, JumpCloud moved from 1048 Pearl St. to a 10,000-square-foot headquarters at 2040 14th St.
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