Welcome!

Microsoft Cloud Authors: Janakiram MSV, Yeshim Deniz, David H Deans, Andreas Grabner, Stackify Blog

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
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, will introduce two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a mu...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
SYS-CON Events announced today that Massive Networks will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Massive Networks mission is simple. To help your business operate seamlessly with fast, reliable, and secure internet and network solutions. Improve your customer's experience with outstanding connections to your cloud.
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SS...
SYS-CON Events announced today that Akvelon will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Akvelon is a business and technology consulting firm that specializes in applying cutting-edge technology to problems in fields as diverse as mobile technology, sports technology, finance, and healthcare.
SYS-CON Events announced today that TechTarget has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets.
Real IoT production deployments running at scale are collecting sensor data from hundreds / thousands / millions of devices. The goal is to take business-critical actions on the real-time data and find insights from stored datasets. In his session at @ThingsExpo, John Walicki, Watson IoT Developer Advocate at IBM Cloud, will provide a fast-paced developer journey that follows the IoT sensor data from generation, to edge gateway, to edge analytics, to encryption, to the IBM Bluemix cloud, to Wa...
SYS-CON Events announced today that Dasher Technologies will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Dasher Technologies, Inc. ® is a premier IT solution provider that delivers expert technical resources along with trusted account executives to architect and deliver complete IT solutions and services to help our clients execute their goals, plans and objectives. Since 1999, we've...
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
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, will present a step-by-step plan to develop your technology implementation strategy. He will discuss the evaluation of communication standards and IoT messaging protocols, dat...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
Elon Musk is among the notable industry figures who worries about the power of AI to destroy rather than help society. Mark Zuckerberg, on the other hand, embraces all that is going on. AI is most powerful when deployed across the vast networks being built for Internets of Things in the manufacturing, transportation and logistics, retail, healthcare, government and other sectors. Is AI transforming IoT for the good or the bad? Do we need to worry about its potential destructive power? Or will we...
SYS-CON Events announced today that App2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. App2Cloud is an online Platform, specializing in migrating legacy applications to any Cloud Providers (AWS, Azure, Google Cloud).
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.