Total amount raised
$574.5 Millions
Latest funding date
1/1/2023
Location
AppDirect has successfully raised significant funding over multiple rounds, attracting notable investors such as Caisse de Depot et Placement du Quebec and Investissement Quebec. The platform offers comprehensive subscription commerce solutions aimed at digital transformation.
Keep reading to explore the intricacies of AppDirect's fundraising journey and the investors backing this innovative platform.
What Is AppDirect?
AppDirect, founded in 2009 by Daniel Saks and Nicolas Desmarais, is headquartered in New York, New York. The company specializes in providing a cloud service commerce platform that unites providers, developers, and consumers of cloud services into a single ecosystem.
AppDirect's platform allows businesses to find, buy, manage, and monitor cloud services from a central location. It also offers marketplaces, billing and distribution, and reselling services to help providers connect businesses to solutions from companies like Microsoft, Google, and Box.
With a workforce of 1001-5000 employees, AppDirect continues to drive digital transformation through its comprehensive subscription commerce solutions.
How Much Funding Has AppDirect Raised?
- Seed Round
- Amount Raised: $3.3M
- Date: April 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and launch the business.
- Series A
- Amount Raised: $8.5M
- Date: July 2012
- Lead Investors: Inovia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $9M
- Date: September 2013
- Lead Investors: Inovia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series C
- Amount Raised: $35M
- Date: April 2014
- Lead Investors: Mithril Capital Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support market expansion and strategic partnerships.
- Series D
- Amount Raised: $50M
- Date: February 2015
- Lead Investors: Mithril Capital Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel international growth and product innovation.
- Series E
- Amount Raised: $140M
- Date: October 2015
- Lead Investors: JP Morgan Chase
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's global reach and enhance service offerings.
- Private Equity Round
- Amount Raised: $185M
- Date: September 2020
- Lead Investors: Caisse de Depot et Placement du Quebec
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion, strategic acquisitions, and additional hiring.
- Debt Financing
- Amount Raised: CA$54.8M
- Date: March 2021
- Lead Investors: Investissement Quebec
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial stability and support ongoing projects.
- Debt Financing
- Amount Raised: $100M
- Date: January 2023
- Lead Investors: Caisse de Depot et Placement du Quebec
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial flexibility and support future growth initiatives.
Total Amount Raised: $535.6M
Current Valuation: Not publicly disclosed
Key Investors
- Caisse de Depot et Placement du Quebec (CDPQ)
- Details: CDPQ is a long-term institutional investor managing funds primarily for public and parapublic pension and insurance plans. As of June 30, 2020, CDPQ held CA$333.0 billion in net assets.
- Investment Focus Areas: Major financial markets, private equity, infrastructure, real estate, private debt.
- Notable Investments: Not publicly disclosed.
- Investissement Quebec
- Details: Investissement Quebec is a government agency that provides financial solutions to support the growth of businesses in Quebec. It aims to stimulate investment and economic development in the region.
- Investment Focus Areas: Technology, manufacturing, green energy, life sciences, aerospace.
- Notable Investments: Not publicly disclosed.
- JP Morgan Chase
- Details: JP Morgan Chase is a leading global financial services firm with operations worldwide. It offers investment banking, financial services for consumers and businesses, financial transaction processing, asset management, and private equity.
- Investment Focus Areas: Financial services, technology, healthcare, consumer goods, real estate.
- Notable Investments: Uber, Airbnb, Robinhood.
- Mithril Capital Management
- Details: Mithril Capital Management is a growth-stage venture firm co-founded by Peter Thiel and Ajay Royan. It focuses on long-term investments in technology companies.
- Investment Focus Areas: Technology, healthcare, cybersecurity, artificial intelligence, biotechnology.
- Notable Investments: Palantir, Helion Energy, Adimab.
- Inovia Capital
- Details: Inovia Capital is a full-stack venture firm that partners with founders to build global technology companies. It manages over US $1 billion across five funds, including early and growth stages.
- Investment Focus Areas: Technology, software, fintech, healthcare, e-commerce.
- Notable Investments: Lightspeed, Snapcommerce, Top Hat.
What's Next for AppDirect?
AppDirect stands at the cusp of significant growth opportunities, driven by the expanding global market for subscription services, which is projected to reach over $340 billion by 2024. The company is well-positioned to capitalize on this trend by enhancing its subscription commerce capabilities and expanding its global footprint. Strategic acquisitions and additional hiring will further bolster its market presence and service offerings.
Future fundraising rounds are likely as AppDirect continues to scale its operations and integrate new technologies to meet the growing demand for digital transformation. However, the company may face challenges such as managing rapid growth, ensuring seamless customer experiences, and staying ahead in a competitive market. Despite these hurdles, AppDirect's strong investor backing and innovative platform provide a solid foundation for continued success.
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