Welcome!

Microsoft Cloud Authors: Elizabeth White, Yeshim Deniz, Serafima Al, Janakiram MSV, John Katrick

News Feed Item

AppDirect Raises $35 Million Series C to Drive Growth of the Global Cloud Economy

Funding Caps Year of Record Expansion, Including Increased Reach to 20 Million Businesses

SAN FRANCISCO, CA -- (Marketwired) -- 04/10/14 -- AppDirect, the leading cloud service marketplace and management company, announced today that it has raised $35 million in Series C funding led by new investor Mithril Capital Management. Existing investors, including iNovia Capital and Foundry Group, also participated. The large investment cements AppDirect's leadership in cloud services brokerage, the fastest growing sector of cloud computing, and will enable the company to continue its rapid, aggressive growth.

"AppDirect's founding vision was to make it incredibly easy for businesses to find, buy, and use the services they need to be successful. We're well on our way to making that vision a reality, and with this investment, we'll be able to accelerate and go even faster," said Daniel Saks, co-founder and co-CEO of AppDirect. "Now, we can focus on growth without sacrificing the vision and values that have powered our success so far, and will continue to guide us as we shape the future of software delivery and the global cloud economy as a whole."

AppDirect's marketplace and management platform makes it possible for companies of all sizes to find, buy, and manage the technology they need to be competitive. The company's Series C funding follows a year of tremendous growth. Over the past 12 months, AppDirect has launched marketplaces with some of the world's leading technology companies -- including Samsung, Pivotal Cloud Foundry, and TeliaSonera -- and expanded its global reach to 20 million businesses.

Significant growth milestones for AppDirect in the past year include:

  • AppDirect's reach has grown from 12 to 20 million businesses worldwide
  • AppDirect's geographic reach has expanded from 80 to more than 150 countries
  • The number of business users on AppDirect-powered marketplaces has grown by 200 percent
  • Application sales on the AppDirect Network have grown by more than 25 percent month over month
  • AppDirect has doubled the size of its team to 150 employees
  • AppDirect acquired Standing Cloud, a leading application packaging and orchestration company
  • AppDirect opened an office in Montreal, Canada, adding to its global presence that now includes San Francisco, Boulder, Colo., Ottawa, London, and Munich

Based in San Francisco, Mithril is a global technology investment firm founded in 2012 by Ajay Royan, its managing general partner, and Peter Thiel, co-founder of PayPal and Palantir, and first outside investor in Facebook. Mithril focuses on the long-term success of companies and offers both strategic and financial support to companies as they build powerful and sustainable franchises worldwide. As part of the investment, Royan will join AppDirect's board of directors.

"AppDirect has created a new category of software that makes technology intuitive and easy to use. Thanks to AppDirect, what we used to call the cloud is solidifying into a concrete and useful resource for countless businesses," said Ajay Royan, co-founder and managing general partner at Mithril Capital Management. "We invested in AppDirect because we think its rapid growth, constant innovation, and foothold in several industries mark the potential for durable growth as well as transformation of the software economy. Our investment will help AppDirect grow its team and service in order to drive its global impact as a major player in the cloud space."

The round also marks another investment from the Foundry Group Select fund. Launched late last year by the Foundry Group, the Select fund is specifically earmarked for late-stage growth rounds of portfolio companies that have achieved significant success. "We feel privileged to work with investors who are not only focused on truly disruptive, game-changing companies and technologies, but are also aligned with our commitment to long-term, value-based growth," added Saks.

Recently named a Forbes Most Promising Company for 2014, AppDirect has also been recognized as a Gartner "Cool Vendor" in Cloud Services Brokerage. In addition, the company has been named to the JMP Securities "Hot 100 Software Companies" list, as well as a top 20 cloud software vendor of the CRN Cloud 100, alongside Citrix, Oracle, and Google.

About AppDirect
AppDirect is the leading cloud service marketplace and management company at the forefront of powering the global cloud economy. Its innovative platform powers the marketplaces of trusted companies around the globe -- including Samsung, Staples, Deutsche Telekom, TeliaSonera, Rackspace, Swisscom, Cloud Foundry, and more -- and helps connect more than 20 million users in 150-plus countries to leading solutions such as Microsoft Office 365, Box, and Google Apps. Founded in 2009, AppDirect is based in San Francisco and has presence in London, Munich, and Montreal. For more information, please visit www.appdirect.com.

About Mithril
Mithril is a global investment firm that provides capital to leading growth companies by partnering with teams who use technology to build valuable and lasting businesses, often in industries long overdue for change. Each of these businesses is unique, but all face common challenges to unlocking long-term growth. Mithril helps navigate these critical inflection points by investing in size and with conviction. www.mithril.com

Media Contact
Whitney Akers
877-404-APPS ext. 419
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
BnkToTheFuture.com is the largest online investment platform for investing in FinTech, Bitcoin and Blockchain companies. We believe the future of finance looks very different from the past and we aim to invest and provide trading opportunities for qualifying investors that want to build a portfolio in the sector in compliance with international financial regulations.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Imagine if you will, a retail floor so densely packed with sensors that they can pick up the movements of insects scurrying across a store aisle. Or a component of a piece of factory equipment so well-instrumented that its digital twin provides resolution down to the micrometer.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
When shopping for a new data processing platform for IoT solutions, many development teams want to be able to test-drive options before making a choice. Yet when evaluating an IoT solution, it’s simply not feasible to do so at scale with physical devices. Building a sensor simulator is the next best choice; however, generating a realistic simulation at very high TPS with ease of configurability is a formidable challenge. When dealing with multiple application or transport protocols, you would be...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
We are given a desktop platform with Java 8 or Java 9 installed and seek to find a way to deploy high-performance Java applications that use Java 3D and/or Jogl without having to run an installer. We are subject to the constraint that the applications be signed and deployed so that they can be run in a trusted environment (i.e., outside of the sandbox). Further, we seek to do this in a way that does not depend on bundling a JRE with our applications, as this makes downloads and installations rat...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
Digital Transformation (DX) is not a "one-size-fits all" strategy. Each organization needs to develop its own unique, long-term DX plan. It must do so by realizing that we now live in a data-driven age, and that technologies such as Cloud Computing, Big Data, the IoT, Cognitive Computing, and Blockchain are only tools. In her general session at 21st Cloud Expo, Rebecca Wanta explained how the strategy must focus on DX and include a commitment from top management to create great IT jobs, monitor ...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
The IoT Will Grow: In what might be the most obvious prediction of the decade, the IoT will continue to expand next year, with more and more devices coming online every single day. What isn’t so obvious about this prediction: where that growth will occur. The retail, healthcare, and industrial/supply chain industries will likely see the greatest growth. Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is ...