JumpCloud, a directory-as-a-service platform, entered into a $10 million credit facility with Comerica.
The credit facility availability follows the $20 million 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 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.
