Nerdio, a Chicago-based software firm specializing in remote work management for IT professionals, has raised US$500 million in an equity funding round.

The round was led by General Atlantic, with participation from Lead Edge Capital and StepStone Group.

This investment values the company at US$1.2 billion, a sharp rise from its US$300 million valuation in December 2022.

Nerdio plans to use the funds to simplify cloud management, expand globally, and hire more engineers and sales staff.

The platform helps IT teams manage Microsoft-based products and serves over 5 million users in more than 50 countries. Its customer base includes major organizations like Chevron, Kraft Heinz, Willis Towers Watson, and Penn State University.

General Atlantic’s Aaron Goldman and Asher Hecht will join Nerdio’s board.