Asset management startup JupiterOne raises $30m Series B funding to accelerate growth

Asset management startup JupiterOne raises $30m Series B funding to accelerate growth

Published: 05-05-2021 13:05:00 | By: Pie Kamau | hits: 731 | Tags:

JupiterOne, the provider of cyber asset management and governance solutions, announced a $30-million Series B funding round led by Sapphire Ventures to support the company's rapid growth in revenue, customers, and employees. Previous investor Bain Capital Ventures also participated in the round.

This latest round brings JupiterOne's total amount of capital raised to more than $49 million since July 2020. These latest funds come after JupiterOne tripled its annual revenue in 2020 and doubled its total headcount over the last six months. The company plans to triple its revenue and double its staff size again in 2021.

JupiterOne will use the fresh funding to grow its engineering, product development, and go-to-market capabilities, including building out its remote workforce. The funding also will be used to extend the reach of the company's extensive partnership and integration teams.

Erkang Zheng,  CEO and Founder, JupiterOne: "At JupiterOne, we believe that security is a basic right. With this funding round, we will focus on the growth of our core position, cyber asset visibility management and governance and growing our user base and free community. Our goal is to help our customers know more and fear less." 

JupiterOne provides a cloud-native SaaS service capable of managing all elements of cyber asset security for large, midsize, and small customers. The new funding will help scale up the direct and channel sales effort for enterprise customers, while expanding self-service capacity for small and midsize businesses.

Anders Ranum, Partner, Sapphire Ventures, Board Member, JupiterOne: "For companies both large and small, JupiterOne solves the very important issues of cyber asset visibility, management and governance. In looking at dozens of cybersecurity startups over the years, we at Sapphire believe that JupiterOne is the ultimate graph-driven product on the market, and is uniquely positioned to provide companies with the missing foundation for cybersecurity and governance." 

The JupiterOne platform integrates continuous cyber asset data for security operations and engineering, cloud security, configuration management and compliance use cases.

Enrique Salem, Partner, Bain Capital Ventures, Board Member, JupiterOne: "The cyber asset visibility, management, and governance market is experiencing explosive growth. JupiterOne's advantage stems from its unique graph-based cyber asset management platform that can provide contextual analysis of all cyber assets for security engineering and operations. Since we led the company's Series A, we've continued to believe that JupiterOne is transforming how enterprises manage their cloud-based infrastructure and cementing itself as the definitive operating system for asset management and security."

This Series B funding round is being announced ahead of JupiterOne's plans to launch its new global headquarters in Morrisville, N.C., in May 2021.