AppDirect receives investment valued USD35 million

April 10
1:53 PM 2014

AppDirect has announced taking in USD35 million in fresh rounds of funds, reported TechCrunch. The company operates in selling a white label marketplace for the cloud application of businesses.

The fresh round of funds was led by Mithril Capital’s Peter Thiel. The new investment was said to be used for the global presence of the company, said a report from TechCrunch. The funds would also be used to fund the development of their products. The new round was also joined by iNovia Capital and Foundry Gourp.

The company was established in 2009 and has been selling online services to big companies like AT&T, Comcast and Staples. AppDirect would be enabed to sell software service apps to SMEs.

Daniel Saks, the CEO of AppDirect said, “For the developer, it’s easy to integrate into one standard platform and distribute across the board [and] businesses see value in centralizing around a single platform. We sit at the intersection of the developers and the businesses by enabling distribution.”

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