Funding round
AppDirect Series C
AppDirect, which works in subscription commerce platform development in San Francisco, raised $35M in a Series C round announced on 9 Apr 2014, led by Mithril. 3 firms took part, 2 of them already investors. It is AppDirect's fourth venture round on record; the one before was a Series B in Sep 2013.
$35M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
AppDirect did not disclose a valuation in this round. It came 7 months after AppDirect's Series B. It is 8.1% of the $431M AppDirect has raised in the venture rounds on record. AppDirect raised again 10 months later: a Series D round of $50M in Feb 2015. 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 10 Sep 2013, led by Inovia $9.0M
- Series C this round 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
Mithril led the round with 2 other firms. Inovia and Foundry had backed AppDirect before.
Lead investor
- backs 16 venture-backed companies new investor
Also in the round
- Inovia backs 120 venture-backed companies existing investor
- backs 85 venture-backed companies existing investor
Joined the board: Ajay Royan (Mithril Capital Management).
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 and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
89 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 1.8 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 21 Apr 2014 | $70M | not disclosed | Foundation Capital |
| Tech Companies | 17 Apr 2014 | $70M | $588M | Foundation Capital |
| Tech Companies | 14 Apr 2014 | $40M | not disclosed | Mithril |
| Tech Companies | 15 Apr 2014 | $25M | $150M | August Capital |
| Automattic Tech Companies | 5 May 2014 | $160M | $1.16B | Insight Partners |
| Addepar Tech Companies | 13 May 2014 | $50M | $272M | Valor and Craft Ventures |
| Netskope Tech Companies | 15 May 2014 | $35M | $200M | Accel |
| Thumbtack Tech Companies | 22 May 2014 | $30M | not disclosed | Sequoia Capital |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did AppDirect raise in its Series C round?
AppDirect raised $35M in its Series C round, announced in Apr 2014.
Who led AppDirect's Series C round?
Mithril led it, with Inovia and Foundry.
What was AppDirect's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
89 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $20M, and this round was 1.8 times the median.
Did AppDirect raise again after this round?
Yes: a Series D round in Feb 2015 of $50M.