Charting Growth: PE-Backed Jamf Soars To New Heights

Minneapolis-based Jamf, has released their business vitals for year 2018 – showing record growth in areas of customer acquisition, employment, and revenues.

Founded by Chip Pearson and Zach Halmstad back in 2002, Jamf made its mark in the world of Apple device management and steadily matured over the course of a decade under a dual CEO approach before raising $30m from Summit Partners in 2013.

Then in 2017, with the addition of a new CEO, Dean Hagar, Jamf was bought by Vista Equity Partners who continue to operate the company under a private-equity model.   Whereas some companies experience mixed results during significant leadership and ownership transitions, Jamf continues to thrive.

Revenues grew around $66m FY 2015 when Hagar joined to $113m FY in 2017 and now they are reporting 30% growth from 2017 to 2018 which would peg total revenues around ~$146m last year.

Year over year, Jamf says it has expanded its customer base by a whopping 57 percent, while maintaining a retention rate of 96 percent.  Jamf ended 2018 managing nearly 12 million Apple devices, adding more than three million devices and 7,100 customers this year alone. Overall, Jamf is closing in on 20,000 global customers, including:

  • 19 of the 25 largest Fortune 500 companies
  • 10 of the top 10 global marketing groups
  • 22 of the 25 Most Valuable Global Brands, ranked by Forbes
  • 9 of the top 10 U.S. media companies
  • 9 of the top 10 technology companies
  • 7,700 K-12 and higher education organizations

Employment also grew by 138 individuals in 2018 to a new high of 850 globally, as the company has a significant presence in Eau Claire, Wisconsin, with additional offices in Cupertino, New York, Amsterdam, Sydney and Hong Kong.

“2018 was a big year for Jamf as we expanded the powerful Apple management solutions we provide to the 20,000 customers we serve around the globe,” said Dean Hager, CEO, Jamf. “As Apple technology grows in industries like education, healthcare, retail, hospitality and the enterprise, Jamf gets to work with more and more organizations doing amazing and innovative work.”

As Jamf’s trajectory escalates, the biggest outstanding question remains: what’s the exit plan? As one of many private-equity backed Minnesota tech companies, that liquidy event is looming…