Funding round
AppDirect Series G
AppDirect, which works in subscription commerce platform development in San Francisco, raised $185M in a Series G round announced on 16 Sep 2020, led by La Caisse, at a $1.50B post-money valuation. 4 firms took part, 2 of them already investors. It is AppDirect's seventh venture round on record; the one before was a Series E in Oct 2015.
$185M
Amount raised
$1.50B
Post-money valuation
$1.31B pre-money
4
Investors
1 lead
1.5x
Step-up from the Series E
$1.00B in Oct 2015
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced AppDirect at $1.50B after the new money, 1.5 times the $1.00B of its Series E (Oct 2015). The $185M bought investors about 12% of the company. It came 59 months after AppDirect's Series E. It is 43% of the $431M AppDirect has raised in the venture rounds on record. No later venture round is on record for AppDirect.
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 7 Oct 2015, led by J.P. Morgan Asset Management $140M$1.00B post-money
- Series G this round 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
La Caisse led the round with 3 other firms. La Caisse and Inovia had backed AppDirect before.
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
10 Series G rounds in Tech Companies within a year either side disclosed an amount; the median was $140M, and this round was 1.3 times the median. The closest in time, other companies' Series G rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 9 Jun 2020 | $100M | not disclosed | Perceptive Advisors and Northpond Ventures |
| Databricks Tech Companies | 1 Feb 2021 | $1.00B | $28.00B | Franklin Templeton |
| Tech Companies | 3 Feb 2021 | $96M | $1.20B | Georgian and Silver Lake Waterman |
| DailyHunt Tech Companies | 30 Apr 2020 | $35M | $625M | Lupa Systems |
| Tech Companies | 7 Apr 2021 | $110M | $2.00B | Tiger Global |
| Tech Companies | 2 Jun 2021 | $200M | $4.40B | Premji Invest and STEADFAST Capital Ventures |
| DataRobot Tech Companies | 27 Jul 2021 | $300M | $6.30B | Altimeter and Tiger Global |
| Carta Tech Companies | 13 Aug 2021 | $500M | $7.40B | Silver Lake |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did AppDirect raise in its Series G round?
AppDirect raised $185M in its Series G round, announced in Sep 2020.
Who led AppDirect's Series G round?
La Caisse led it, with Inovia, JPMorgan Chase and Mithril.
What was AppDirect's valuation at the Series G round?
$1.50B post-money ($1.31B pre-money).
How does it compare with other Series G rounds in Tech Companies?
10 Series G rounds in Tech Companies within a year either side disclosed an amount; the median was $140M, and this round was 1.3 times the median.