AppDirect announced today that it has secured $8.5 million in a Series A investment round led by Canadian firm iNovia Capital, a participant in its $3.5 million seed round. The financing will be used to continue the company’s growth in the cloud services brokerage sector.
Based in San Francisco, AppDirect powers the marketplaces of companies including Bell Canada, Deutsche Telekom, Rackspace, Appcelerator and others that collectively reach more than six million end users.
“Today, more people are using more cloud-based applications than ever before,” said Chris Arsenault, managing partner at iNovia Capital. “With its outstanding technology and high-caliber team, AppDirect is perfectly positioned to not only take advantage of that growth, but act as a catalyst to expand the market even more.”
Daniel Saks, president and co-CEO of AppDirect, said the company also has recently added dozens of high-profile applications to its syndication network, including Google Apps, DocuSign, New Relic and SendGrid.
AppDirect – blog post
AppDirect – press release
iNovia Capital – http://www.inovia.vc
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