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

Not all big funding rounds go to generative AI companies.

, which provides endpoint management, security and monitoring, raised a $231.5 million Series C led by . The minority investment values the Austin, Texas-based firm at $1.9 billion.

Monitoring and securing endpoints has been a main pillar of cybersecurity since the industry started. However, the need may be even bigger today, as many people work outside an office and with a variety of networks and devices.

鈥淲e are in the decade of the endpoint, fueled by a wave of workers pushed remote and hybrid during and since the pandemic,鈥� said founder and CEO . 鈥淲hether you are a (managed service provider) in charge of running and protecting other peoples鈥� businesses, or a CIO in charge of one, endpoints pose a significant risk and opportunity.鈥�

NinjaOne automates endpoint management for over 17,000 customers in more than 80 countries and witnessed 70%-plus ARR growth last year.

Big money

The round is the fifth biggest raise by a U.S.-based startup this calendar year.

The round also is the second-biggest of the year for a company related to cybersecurity, behind only Broomfield, Colorado-based 鈥檚 big $300 million equity fundraise at a pre-money valuation of $5 billion.

Venture funding to cybersecurity dropped to its lowest total since 2018 last year. Security companies raised $8.2 billion in 692 venture capital deals last year 鈥� 鈥� compared to $16.3 billion in 941 deals in 2022.

With some large rounds this year, funding has picked up a little through the first month-plus, with $1.2 billion being raised, per SA国际传媒 .

Founded in 2013, the company has raised $261.5 million, .