The San Diego-based company provides device management for businesses using Apple products, such as Apple TV, Macs, iPads and iPhones.
Greycroft led the round with participation from Okta Ventures and B Capital Group. Existing investors, including First Round Capital also participated. With this new funding, Kandji has raised a total of $28.5 million since it was founded in 2018, including approximately $7.4 million in seed funding earlier in 2020, according to Crunchbase data.
“The use of Apple devices in the enterprise is growing rapidly, and a massive opportunity exists for a modern Apple enterprise management solution,” said Teddy Citrin, principal at Greycroft, said in a written statement. “We were blown away by the positive feedback we heard from Kandji’s customers–they are changing the landscape and redefining what it means to manage and secure Apple devices in the enterprise.”
Kandji emerged from stealth less than a year ago and has since onboarded hundreds of paying customers, Adam Pettit, co-founder and CEO of Kandji told Crunchbase News.
The global mobile device management market is expected to grow from $4.3 billion in 2020 to $15.7 billion by 2025. To take advantage of that growth, Kandji intends to put the new funds to work in new hires and to expand features. The company already works across 40 industries and globally, he said.
The company plans to triple its employee base, already at 40, over the next 12 to 18 months. There are already 20 open roles, Pettit said. In addition, the company will introduce feature enhancements at the end of this year and more in 2021.
“Demand has been incredible, and we expect to grow revenue 10 times in the next 12 months,” he added. “The market has been growing 20 percent per year. A big set of customers are underserved, so we knew when we introduced a viable alternative, it would be refreshing to customers.”