Funding round
AppDirect Series D
AppDirect, which works in subscription commerce platform development in San Francisco, raised $50M in a Series D round announced on 11 Feb 2015, led by Mithril. 16 firms took part, 3 of them already investors. It is AppDirect's fifth venture round on record; the one before was a Series C in Apr 2014.
$50M
Amount raised
Not disclosed
Post-money valuation
16
Investors
1 lead
Valuation
What this round says about the price
AppDirect did not disclose a valuation in this round. It came 10 months after AppDirect's Series C. It is 12% of the $431M AppDirect has raised in the venture rounds on record. AppDirect raised again 8 months later: a Series E round of $140M in Oct 2015, at $1.00B post-money.
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 9 Apr 2014, led by Mithril $35M
- Series D this round 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 15 other firms. Foundry, Inovia and StarVest Partners had backed AppDirect before.
Lead investor
- backs 16 venture-backed companies new investor
Also in the round
- backs 85 venture-backed companies existing investor
- Inovia backs 120 venture-backed companies existing investor
- StarVest Partners existing investor
- KKR backs 104 venture-backed companies new investor
- new investor
- Desmarais Group new investor
- backs 39 venture-backed companies new investor
- Accel backs 581 venture-backed companies new investor
- Andreessen Horowitz backs 722 venture-backed companies new investor
- Founders Fund backs 368 venture-backed companies new investor
- Greylock Partners backs 190 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- Khosla Ventures backs 396 venture-backed companies new investor
- Lowercarbon Capital backs 110 venture-backed companies new investor
- backs 16 venture-backed companies new 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
42 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 1.6 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 11 Feb 2015 | $115M | not disclosed | not named |
| Tech Companies | 19 Feb 2015 | $43M | not disclosed | Goldman Sachs |
| Tech Companies | 19 Feb 2015 | $32M | not disclosed | not named |
| Tech Companies | 17 Feb 2015 | $31M | not disclosed | Georgian |
| Tech Companies | 12 Feb 2015 | $27M | not disclosed | Catalyst Investors |
| Tech Companies | 5 Feb 2015 | $15M | not disclosed | Toba Capital |
| Tech Companies | 19 Mar 2015 | $39M | not disclosed | Liberty Interactive Corporation |
| Tech Companies | 24 Mar 2015 | $35M | not disclosed | Sapphire Ventures |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did AppDirect raise in its Series D round?
AppDirect raised $50M in its Series D round, announced in Feb 2015.
Who led AppDirect's Series D round?
Mithril led it, with Foundry, Inovia, StarVest Partners, KKR and Garnett Station Partners and 10 more.
What was AppDirect's valuation at the Series D round?
It was not disclosed.
How does it compare with other Series D rounds in Tech Companies?
42 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $30M, and this round was 1.6 times the median.
Did AppDirect raise again after this round?
Yes: a Series E round in Oct 2015 of $140M at $1.00B post-money.