NinjaOne’s valuation more than doubles to $12.3bn, and it says it didn’t even need the money
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...
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