IT platform NinjaOne valued at nearly $2 billion after latest funding round
(Reuters) -NinjaOne raised fresh capital in a Series C funding round that valued the IT platform at about $1.9 billion, the company said on Tuesday.
Texas-based NinjaOne operates in more than 80 countries and counts chipmaker Nvidia, the State of California and University of Oxford among its customers.
The company, which automates IT processes, plans to use the proceeds to improve customer support and for scaling up the business.
The latest funding round that raised $231.5 million was led by new investor ICONIQ Growth and also drew investments from data cloud company Snowflake CEO Frank Slootman, among others.
The funding marks a rare bright spot for the start-up investment market in the United States, which has seen subdued activity despite the frenzy around artificial intelligence.
In 2023, U.S. investors injected $170.6 billion into start-ups, 30% lower than in 2022, according to PitchBook data.
Founded in 2013 by CEO Sal Sferlazza and CFO Chris Matarese, NinjaOne launched its core platform in 2015 after two years in stealth mode, according to the company's website.
(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shounak Dasgupta)
