Funding round
AppDirect Series E
AppDirect, which works in subscription commerce platform development in San Francisco, raised $140M in a Series E round announced on 7 Oct 2015, led by J.P. Morgan Asset Management, at a $1.00B post-money valuation. 7 firms took part. It is AppDirect's sixth venture round on record; the one before was a Series D in Feb 2015.
$140M
Amount raised
$1.00B
Post-money valuation
$860M pre-money
7
Investors
1 lead
14%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced AppDirect at $1.00B after the new money. The $140M bought investors about 14% of the company. It came 8 months after AppDirect's Series D. It is 32% of the $431M AppDirect has raised in the venture rounds on record. AppDirect raised again 59 months later: a Series G round of $185M in Sep 2020, at $1.50B 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 11 Feb 2015, led by Mithril $50M
- Series E this round 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
J.P. Morgan Asset Management led the round with 6 other firms.
Lead investor
- J.P. Morgan Asset Management new investor
Also in the round
- backs 85 venture-backed companies new investor
- Inovia backs 120 venture-backed companies new investor
- backs 16 venture-backed companies new investor
- StarVest Partners new investor
- Stingray Digital new investor
- Desmarais Group 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
13 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 3.1 times the median. The closest in time, other companies' Series E rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 23 Sep 2015 | $77M | not disclosed | New Enterprise Associates |
| Tech Companies | 9 Sep 2015 | $40M | not disclosed | DFJ Growth |
| Tech Companies | 10 Dec 2015 | $38M | not disclosed | not named |
| Tech Companies | 14 Jan 2016 | $63M | not disclosed | Greenspring Associates |
| Tech Companies | 13 Jan 2016 | $50M | not disclosed | Institutional Venture Partners |
| Tech Companies | 18 Feb 2016 | $50M | not disclosed | Rembrandt Venture Partners and Madison Bay Capital Partners |
| Tech Companies | 2 Jun 2015 | $45M | not disclosed | Technology Crossover Ventures |
| Tech Companies | 1 Apr 2016 | $9.0M | not disclosed | Plymouth Growth Partners |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did AppDirect raise in its Series E round?
AppDirect raised $140M in its Series E round, announced in Oct 2015.
Who led AppDirect's Series E round?
J.P. Morgan Asset Management led it, with Foundry, Inovia, Mithril, StarVest Partners and Stingray Digital and 1 more.
What was AppDirect's valuation at the Series E round?
$1.00B post-money ($860M pre-money).
How does it compare with other Series E rounds in Tech Companies?
13 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $45M, and this round was 3.1 times the median.
Did AppDirect raise again after this round?
Yes: a Series G round in Sep 2020 of $185M at $1.50B post-money.