JumpCloud Secures $10m Credit Facility From Comerica

BOULDER, Colo., Sept. 5, 2018 /PRNewswire/ -- JumpCloud^®, the first Directory-as-a-Service^® platform, announced today that it has entered into a $10m credit facility with Comerica. The credit facility availability follows the $20M Series C funding the Company closed less than a year ago with OpenView Partners and Foundry Group giving JumpCloud access to even more capital to grow.

JumpCloud is experiencing rapid growth scaling its Directory-as-a-Service platform. In 2018, JumpCloud expects to nearly triple headcount and further add an additional 50+ engineers.

"JumpCloud is excited to partner with Comerica to support its rapid growth in the identity management sector," said Larry Middle, CFO of JumpCloud. "Comerica joins Foundry Group and OpenView Partners in supporting JumpCloud through this critical phase. JumpCloud is focused on becoming the cloud based directory services leader and we couldn't execute on that mission without the incredible support from all of our financial partners including Comerica."

"We are excited to support JumpCloud on their mission to be the world's leading cloud directory," said John Botelho, Vice President Technology & Life Sciences of Comerica Bank. "JumpCloud's unique approach to the identity management market has resulted in pristine metrics with tremendous growth and efficiency. We look forward to supporting the JumpCloud team as they hire world-class talent and build a platform that will lead the industry."

About JumpCloud
JumpCloud, the first Directory-as-a-Service, is Active Directory and LDAP reimagined. JumpCloud securely manages and connects user identities to their systems, applications, data, and networks. Try JumpCloud's cloud-based directory service at jumpcloud.com.

SOURCE JumpCloud