Texas-based NinjaOne operates in more than 80 countries and counts chipmaker Nvidia, the State of California and University of Oxford among its customers.
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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 and also drew investments from data cloud company Snowflake CEO Frank Slootman, among 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, U.S. investors injected $170.6 billion into start-ups, 30% lower than in 2022, according to PitchBook data.
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Founded in 2013 by CEO Sal Sferlazza and CFO Chris Matarese, NinjaOne launched its core platform in 2015 after two years in stealth mode, according to the company’s website.