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