Software startup NinjaOne has surpassed $500 million in annual recurring revenue, or ARR, the company announced Tuesday.
The IT management platform saw revenue grow nearly 70% year over year and its customer base increase more than 60% over the last year to 35,000.
President and Chief Financial Officer Chris Matarese told CNBC that the ARR milestone has largely been driven by the startup's continuous product innovation and customer support.
"I think we've probably spent four times the industry average in support, and we've had 98% customer satisfaction scores throughout our history or better," he said.
Founded in 2013, NinjaOne offers patch management, backups, remote monitoring and management, endpoint security, and more under a unified software system rather than multiple siloed tools.
Co-founder and CEO Sal Sferlazza said in a statement that as opposed to legacy tech, NinjaOne's "multi-tenant-native architecture can innovate faster" to generate several software solutions at once.