NinjaOne Finalizes $500 Million Series C Extension
Deal News | Feb 25, 2025 | Goodwin
NinjaOne has successfully completed its Series C funding extension, raising an additional $500 million and valuing the company at $5 billion. The Series C extension saw contributions from leading investment entities ICONIQ Growth and CapitalG, Alphabet’s independent investment fund, among others. The funds will be utilized to enhance research and development efforts in domains such as autonomous endpoint management and IT use cases to improve device user experiences. Additionally, the capital infusion will bolster the company’s customer support capabilities and facilitate the forthcoming acquisition of SaaS backup and data protection leader Dropsuite. The legal advisory for the transaction was provided by the Goodwin team, with leadership from David Ajalat and Agustin Podboj. Prior to this, NinjaOne acquired Dropsuite and successfully raised $231.5 million in their initial Series C funding round in February 2024. Serving over 20,000 customers, NinjaOne's platform automates IT management and enhances productivity while mitigating security risks and reducing costs for IT teams and service providers.
Sectors
- Venture Capital
- Information Technology
- Software as a Service (SaaS)
Geography
- United States – NinjaOne is based in the United States, which is also where the main financial and strategic activities discussed in the article are taking place.
Industry
- Venture Capital – The article involves a significant venture capital investment event with multiple investors participating in a major funding round.
- Information Technology – NinjaOne operates in the IT sector, providing automated endpoint management solutions to improve security and operational efficiency.
- Software as a Service (SaaS) – The acquisition target, Dropsuite, operates in the SaaS field, focusing on backup and data protection services.
Financials
- $500 million – Total capital raised in the Series C funding extension.
- $5 billion – Post-money valuation of NinjaOne following the Series C extension.
- $231.5 million – Amount raised by NinjaOne in the initial Series C round in February 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| NinjaOne | Target Company | Company | A company providing automated IT endpoint management solutions to businesses. |
| ICONIQ Growth | Investor | Company | A leading growth equity investment firm involved in the Series C funding round. |
| CapitalG | Investor | Company | Alphabet’s independent investment fund participating in the funding round. |
| Goodwin | Legal Advisor | Company | Provided legal advisory services for the Series C extension and other transactions. |
| Dropsuite | Acquisition Target | Company | A leader in backup and data protection services in the SaaS industry, currently being acquired by NinjaOne. |
| David Ajalat | Lawyer | Person | Led the team from Goodwin advising NinjaOne. |
| Agustin Podboj | Lawyer | Person | Co-led the team from Goodwin advising NinjaOne. |