JumpCloud Launches Venture Arm to Back Next-Gen IT and Security Startups
JumpCloud Ventures has already made its first investment in Tofu, a startup focused on preventing identity fraud in hiring.
JumpCloud has launched a new venture arm to invest in early-stage startups building next-generation IT, security and identity technologies, as the enterprise software firm looks to deepen its role in the broader tech ecosystem.
The new initiative, JumpCloud Ventures, will back emerging companies working across areas such as identity management, artificial intelligence, security and IT productivity. The program is designed to provide both capital and strategic support, including access to JumpCloud’s expertise, network and platform, according to the company.
CEO Rajat Bhargava said the move reflects a desire to support founders tackling complex infrastructure and security challenges. “Greg Keller ( co-founder of Jumpcloud) and I have spent much of our careers building companies from the ground up. At our current scale, it is time to give back. We are supporting emerging companies tackling hard problems in identity and security.”
JumpCloud Ventures has already made its first investment in Tofu, a startup focused on preventing identity fraud in hiring. The firm said portfolio companies will receive more than funding, including guidance, connections and operational insight, while remaining independent in their product decisions.
“Our mission is to build the identity and security platform for recruiting that helps establish a new foundation of trust in an AI and remote working world. This is a new problem that has suddenly emerged. While companies are ill-equipped to solve it, we’re ready to help every company establish a stronger layer of trust between talent, security, and candidates,” Jason Zoltak, co-founder and CEO of Tofu, said.
Founded in 2013 and headquartered in Colorado, JumpCloud offers a cloud-based directory platform used by organisations to manage user identities, devices and access across IT environments. The company has raised hundreds of millions of dollars in funding and serves a global customer base across enterprises and small-to-mid-size businesses.
Last month, JumpCloud announced the acquisition of MacSolution, its largest managed service provider (MSP) partner in the Americas, as the company deepens its expansion in Latin America and builds a strategic go-to-market hub in São Paulo, Brazil.
