Most startups raise money because they need it. NinjaOne has just raised more than $400m to make the opposite point.
The Austin-based IT-operations company said on Tuesday that a fresh round of Series C extensions has more than doubled its valuation to $12.3bn, up from the $5bn it was worth only 16 months ago.
The crucial detail is that this was a secondary round. Rather than pumping new cash into the business, the deal lets existing shareholders and employees sell some of their stock, while the company itself stays profitable, debt-free, and firmly under founder control.
“Because we are profitable, this raise was never about needing capital to grow,” said Chris Matarese, co-founder and president of NinjaOne. “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.”
The 💜 of EU techThe latest rumblings from the EU tech scene, a story from our wise ol' founder Boris, and some questionable AI art. It's free, every week, in your inbox. Sign up now!NinjaOne sells a single, cloud-native platform that bundles together the unglamorous but essential work of running a company’s computers: managing and securing employee devices, patching software, backing up data, and enabling remote access. The pitch is consolidation, replacing half a dozen separate tools with one console, and it has landed.
