NinjaOne valuation stands at $2 billion after latest funding round

Firm Valuation: NinjaOne raised fresh capital in a Series C funding round that valued the IT platform at about $1.9 billion, the company said. 

Texas-based NinjaOne operates in more than 80 countries and counts chipmaker Nvidia, the State of California and University of Oxford among its customers.

The company, which automates IT processes, plans to use the proceeds to improve customer support and for scaling up the business.

The latest funding round that raised $231.5 million was led by new investor ICONIQ Growth, which also drew investments from data cloud company Snowflake, CEO of Snowflake, Frank Slootman, and others.

The funding marks a rare bright spot for the start-up investment market in the United States, which has seen subdued activity despite the frenzy around artificial intelligence.

In 2023, US investors infused $170.6 billion into start-ups, 30 per cent lower than in 2022, according to PitchBook data.

Founded in 2013 by Sal Sferlazza and Chris Matarese, NinjaOne launched its core platform in 2015 after two years in stealth mode, according to the company's website.