Funding round
AppDirect Series B
AppDirect, which works in subscription commerce platform development in San Francisco, raised $9.0M in a Series B round announced on 10 Sep 2013, led by Inovia. 1 firm took part, 1 of them already investors. It is AppDirect's third venture round on record; the one before was a Series A in Jul 2012.
$9.0M
Amount raised
Not disclosed
Post-money valuation
1
Investors
1 lead
Valuation
What this round says about the price
AppDirect did not disclose a valuation in this round. It came 14 months after AppDirect's Series A. It is 2.1% of the $431M AppDirect has raised in the venture rounds on record. AppDirect raised again 7 months later: a Series C round of $35M in Apr 2014. Its next priced round, a Series E in Oct 2015, valued it at $1.00B.
AppDirect's funding rounds
AppDirect has 7 venture rounds on record and 1 other deal. This one is highlighted.
- Seed 1 Jan 2011 $3.3M
- Series A 18 Jul 2012, led by Inovia $8.5M
- Series B this round 10 Sep 2013, led by Inovia $9.0M
- Series C 9 Apr 2014, led by Mithril $35M
- Series D 11 Feb 2015, led by Mithril $50M
- Series E 7 Oct 2015, led by J.P. Morgan Asset Management $140M$1.00B post-money
- Series G 16 Sep 2020, led by La Caisse $185M$1.50B post-money
- Debt not a venture round 1 Jan 2021 $43M
Investors
Who put money in
Inovia led the round. Inovia had backed AppDirect before.
Lead investor
- Inovia backs 120 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
131 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $10M, and this round was close to the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Illumio Tech Companies | 1 Sep 2013 | $35M | $132M | General Catalyst |
| Tech Companies | 1 Sep 2013 | $25M | not disclosed | Sina Corporation |
| Tech Companies | 18 Sep 2013 | $14M | not disclosed | Battery Ventures |
| Tech Companies | 4 Sep 2013 | $12M | not disclosed | Cisco Investments |
| Tech Companies | 26 Sep 2013 | $11M | not disclosed | Khosla Ventures |
| Tech Companies | 4 Sep 2013 | $11M | not disclosed | Ribbit |
| Tech Companies | 17 Sep 2013 | $11M | not disclosed | Scale Venture Partners |
| Tech Companies | 3 Sep 2013 | $11M | not disclosed | Cisco and DCVC |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did AppDirect raise in its Series B round?
AppDirect raised $9.0M in its Series B round, announced in Sep 2013.
Who led AppDirect's Series B round?
Inovia led it.
What was AppDirect's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
131 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $10M, and this round was close to the median.
Did AppDirect raise again after this round?
Yes: a Series C round in Apr 2014 of $35M.