Kandji raises $100 million from General Catalyst in latest fund-raise

Allbirds

17/07/2024 12:00

July 17 (Reuters) - Kandji, a startup that manages Apple
 AAPL.O  devices used by corporate employees, said on Wednesday
it has raised $100 million from venture capital firm General
Catalyst to invest in its technology and product.
    San Diego-based Kandji was valued at $850 million after the
fund-raise, only slightly higher than the $800-million valuation
it had when it raised $100 million in 2021 led by Tiger Global
Management.
    As compared to devices running on Microsoft  MSFT.O  and
Alphabet  GOOGL.O  operating systems, the software powering
Apple devices is generally closed off and needs special
integrations to be managed by a third-party organization, which
is where Kandji steps in.
    The company counts Allbirds  BIRD.O , Canva and Notion as
its customers and has partnerships with tech services firms like
ServiceNow  NOW.N , Amazon.com's AWS  AMZN.O  and Okta  OKTA.O .
    "Kandji brings a unique combination of innovative solutions
and fiscal value to their customers with their sophisticated
approach to Apple endpoint management and security," said Deep
Nishar, managing partner at General Catalyst, who will also join
the company's board of directors.
    The company said its annual recurring revenue has grown over
600% and customer base by nearly four times since 2021, without
disclosing financial figures.

 (Reporting by Priyanka.G and Yuvraj Malik in Bengaluru; Editing
by Vijay Kishore)
 ((Priyanka.G@thomsonreuters.com;))