Kandji, a startup that deploys Apple‘s device management platform, is doing pretty well, with rapid revenue growth, high valuations and a lot of investment. The company announced on November 18 that it has raised $ 100 million in Series C at a valuation of $ 800 million. This valuation is 10 times higher than when the $ 21 million Series A was implemented in October 2020. In less than half a year, the company announced a $ 60 million Series B in April 2021.
This investment round will be led by Tiger Global, with Definition, Frontline Ventures, existing investors First Round Capital, Greycroft, Felicis Ventures, The Spruce House Partnership, B Capital Group, SVB Capital and Okta Ventures. Participated. Kandji has raised more than $ 188 million so far, of which $ 181 million has been raised since October 2020. There is.
・ Kandji, a mobile device manager, grows under a pandemic and raises 2.2 billion yen in Series A
・ Kandji raises 6.48 billion yen in Series B, driven by the rapid growth of Apple‘s device management platform
Kandji provides a way to manage Apple devices for medium to large enterprises. Founder and CEO Adam Pettit said pandemics and telecommuting have increased the interest of inbound customers. In fact, revenue has grown by more than 700% over the past year.
One of the reasons is the result of growth in Europe. The startup has opened an office in London, and the local market is said to have contributed significantly to the earnings mix. “We have just started our business in Europe. We will open an office in London, where we will be hiring rapidly,” Pettit said. “The motivation was very interesting. We do little marketing abroad, but over the past year, about 25% of our top-line sales have come from abroad.”
Also, seeing that Kandji is receiving this level of investment, it is said that the number of large customers who feel reassured when doing business for a long time is generally increasing. “The longer we work, the more customers we have, and our customers seem to feel that we’re here,” he said. “We need a more sophisticated team to manage those large customers before and after sales. We’ve been preparing for that for the last six months,” he said.
More than 1,000 companies are using the platform, and the number of employees, which was 40 at the beginning of the year, has now increased to more than 250, Pettit said. He hopes to increase this number to 400 by 2022. When speaking in early 2021 around Series B, Pettit said how important it is to build a diverse and inclusive culture, and that it begins with recruitment. That commitment is still the same.
“We’re actually doing a lot to expand our pipeline. We’re trying to get out of the normal network and hire candidates that wouldn’t otherwise be available. And for us and many other companies, remote employment has a huge impact (in building diversity) in the sense that it doesn’t target a particular market, which is also the diversity of our hiring pipeline. It’s been very helpful in improving sex, “he said.
Kandji has offices in San Diego and London, but Pettit says the company is a remote-first company and will continue to do so.
Image credit: Kandji
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(Sentence: Ron Miller, Translation: Aya Nakazato)