To address this, JumpCloud created its venture arm, IT Innovation Initiative, JumpCloud Ventures. The initiative will offer financial support for early-stage IT and security-related software companies. Focusing on identity, security, artificial intelligence, and IT productivity. Further, JumpCloud Ventures represents JumpCloud’s dedication to creating a better technology environment that is secure and productive. It represents a new chapter for the unified IT management platform.
“Greg Keller and I have spent much of our careers building companies. From the ground up,” said Rajat Bhargava, CEO, JumpCloud. “At our current scale, it is time to give back. We are supporting emerging companies tackling hard problems in identity and security. JumpCloud Ventures is about investing in innovation and helping these companies grow.”
“Identity-based attacks often begin long before a user ever logs in,” Bhargava said. “Hiring and onboarding represent an important but underexplored area of identity risk. Tofu is bringing new thinking to that problem, which is why we’re excited to support the team through JumpCloud Ventures.”
Investment in Tofu to Tackle Identity Risk
Likewise, JumpCloud announced its investment through the venture arm in a startup called Tofu. Whose mission is to address the risk of identity fraud in the hiring process. The mission is to enhance the process of verifying identities during the hiring process. JumpCloud’s venture arm is dedicated to tackling the yet unexplored risks facing the modern workforce. Moreover, the venture arm is not just about funding the ventures. Instead, the ventures that will be funded by the venture arm will receive JumpCloud’s expertise. Industry knowledge and a wide network without the need for product guidance or forced integration.
“JumpCloud’s support is a strong validation of the problem we’re solving,” said Jason Zoltak, co-founder and CEO, Tofu. “Our mission is to build an identity and security platform for recruiting. That helps establish a new foundation of trust in an AI and remote working world. This is a new problem that has suddenly emerged. While companies are ill-equipped to solve it, we’re ready to help every company establish a stronger layer. Of trust between talent, security, and candidates. We’re excited to work with the JumpCloud team as we continue to build and scale our platform.”
For related updates on digital trust and cybersecurity, explore our SOC News.
Source: PRNewswire
