Cloud App Marketplace Provider AppDirect Raises $50 Million

AppDirect, the corporate behind a marketplace and platform for cloud-based apps, has closed a $50 million Series D funding spherical semiconductor diode by Mithril Capital Management, a corporation co-founded by Peter Thiel, a PayPal co-founder and well-known capitalist.

According to the announcement on, the investment can modify AppDirect (which has doubled its revenue for the past four years) to continue its growth, drive more development, and facilitate it maintain its position within the quickly growing cloud brokerage market.

Its platform permits firms to launch their own white-label marketplace and become a cloud service broker for varied third-party applications. firms like Comcast, TeliaSonera, Swisscom and Rackspace have used it because the answer behind their own cloud service marketplaces.

“We area unit committed to creating software system accessible and empowering the world software system economy through cloud service commerce,” AppDirect co-founder and co-CEO Daniel Saks same in a very statement. “We’re dedicated to delivering the most effective omni-channel cloud service expertise to our customers across the globe. because the cloud becomes more and more essential for businesses of each size, our strategy permits all cloud services, across all channels, all verticals, all devices, for all kinds of companies.”

Ajay Royan, United Nations agency may be a Mithril co-founder and managing general partner, same AppDirect helps drive forward software system discovery, and ease enterprise charge and cloud management. “AppDirect’s high-quality growth and distended product capabilities have cemented its leadership position within the new class of cloud service commerce…AppDirect doesn’t simply create technology; it makes technology intuitive and simple to use.”

The latest spherical brought AppDirect’s total capital raised to $110 million and saw new investors Henry Kravis and Paul Fribourg be part of existing investors Mithril, metalworks cluster, iNovia Capital and StarVest Partners.

There are many firms competitive within the cloud brokerage enablement market, that Gartner expects can grow from $225.42 million in 2013 to $2.03 billion by 2018. Competitors during this area embody Cordys, Dell Boomi, GXS commercialism Grid, Gravitant cloudMatrix, HP Aggregation Platform for SaaS, Ingram small Cloud, InfoSys Cloud system Hub, Synnex CloudSolv, technical school information TDCloud, and Verio’s VerioCatalyst.

And there area unit a lot of firms coming into the market. as an example, cloud brokerage platform ComputeNext raised $4M last year to make what it termed Associate in Nursing “Expedia for the Cloud”, and it currently powers Digital real property Trust’s Digital real property world Cloud Marketplace.

With its new capital, AppDirect hopes to expand its world market share by devoting resources to scale its sales, selling and consumer services groups, and to continue forming partnerships to drive innovation and worth across world offices. to realize this, the corporate plans to extend its worker count to over three hundred, expand its Munich and city offices, and open a brand new workplace in geographical area, still as increase its presence in Asia and geographical region.

Cloud App Marketplace Provider AppDirect Raises $50 Million