While Apple Inc. (NASDAQ:AAPL)‘s success over the last decade or so is more than obvious, we tend to overlook some of the other companies like JAMF Software that have prospered by betting on the tech giant since, as early as 2002.
In an article on Forbes, Karsten Strauss, explored how JAMF founder Zach Halmstad and co-CEO, Chip Pearson resisted the temptation to give up on Apple Inc. (NASDAQ:AAPL) or even to sell out their company to other investors. JAMF might not be the fastest growing company, but it expected to earn about $50 million in revenues for this fiscal year. According to Strauss, JAMF received an estimated valuation of $225 million last December after a $30 million round of financing led by Summit Partners.
The mention of round of financing might make the reader think that JAMF did eventually sell out, at least partially, but that is not the complete picture. In fact Halmstad and Pearson got the Series A round only after 8 years and 11 years for Series B, according to Strauss. This was of course due to the accelerated growth of Apple Inc. (NASDAQ:AAPL) devices in the market and the duo realised that they need some more financing just to meet the increase in demand.
JAMF has an impressive portfolio of clients including Pixar, Salesforce, Axel Springer and Oxford University. They help the IT departments of these organisations by proving them both time and cost efficient solutions for managing their Apple Inc. (NASDAQ:AAPL) devices including iPhones, iPads and Mac computers. JAMF’s flagship IT suite is called Casper.
The story behind the choice of name JAMF is also an interesting one, and goes back to the days when the company was cash strapped and all it had was the belief in Apple Inc. (NASDAQ:AAPL)’s success at a time when Windows was the staple of the technology world. Strauss wrote that Laszlo Jamf was a character in Thomas Pynchon’s novel about V-2 rocket development and since JAMF didn’t have money to pay an attorney to file for incorporation, an unusual name was picked up.
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