BOULDER — JumpCloud Inc., a tech company that provides directory-as-a-service, has raised $20 million in capital.

The company offered equity to raise the funds, according to a Form D filed with the Securities and Exchange Commission on Nov. 9.

The funds raised will go to expanding the company’s capabilities and hiring 70 employees over the next 12 months, the majority of whom will be engineers and developers, said Mary Ann Tillman, vice president of marketing at JumpCloud.

JumpCloud is a directory-as-a-service company, Tillman said. The company manages user directories for companies, largely working with IT departments to provide them with a central identity storage for needs like single sign on, security and employee system access.