Nerdio, a platform designed to simplify the deployment and management of Microsoft cloud technologies, has raised $500 million in a Series C round of funding, quadrupling its valuation to over $1 billion. The Chicago-based startup's valuation has now firmly entered unicorn territory, although the company has chosen not to disclose a specific valuation.

According to Nerdio's Chief Revenue Officer, Joseph Landes, the company's valuation is "north of $1 billion," marking a significant milestone for the startup, which spun out of an "IT-as-a-service" company called Adar in 2020. Nerdio has since forged a path as a dedicated cloud management service provider, with customers including PayPal, Sony, and Comcast.

Nerdio's platform targets companies looking to optimize their cloud infrastructure deployments and costs. The company's flagship product, Nerdio Manager for Enterprise, helps businesses manage Microsoft's Azure Virtual Desktop and Windows applications across their workforce. The platform automates many tasks related to cloud infrastructure and virtual desktop management, including user-provisioning, application deployment, and cost-optimization features like auto-scaling resources to match demand.

Virtual desktops, which run on remote servers instead of physical computers, allow users to access all their apps, files, and configurations on any device via the internet. Nerdio's modern cloud-native approach sets it apart from traditional legacy players like Citrix, which started out before the cloud computing revolution. This is particularly relevant in today's remote and hybrid working environments, where secure access to work resources is crucial.

"Managing cloud environments is complex and costly — it typically requires a lot of specialized technical expertise and a mix of costly, siloed tools," Landes said. "Nerdio provides a single, comprehensive platform that allows organizations to manage their Microsoft cloud environments without the need for extra skills, tools, or workflows."

Prior to this latest funding round, Nerdio had raised an $8 million Series A round in 2020, followed by a $117 million Series B tranche three years later. The latest $500 million cash injection comes from U.S. growth equity firm General Atlantic, alongside Lead Edge Capital and Stepstone, which have procured a minority stake in the company. Although Nerdio wouldn't confirm the ownership percentages, the founders are said to "retain a significant stake in the company."

Nerdio plans to use its investment to enhance its product lineup across key Microsoft services, including Azure Virtual Desktop, Windows 365, and Microsoft 365. The company also aims to bolster its headcount, which currently stands at 300 employees. "We plan to grow that number significantly as we scale our global presence and build customer support and engineering teams," Landes said.

The funding news is a significant milestone for Nerdio, which has established itself as a leading player in the cloud management space. As the company continues to grow and expand its offerings, it will be interesting to see how it shapes the future of cloud technology deployment and management.