AppDirect was founded in 2009 by Nicolas Desmarais, Daniel Saks, and Andy Sen. While CEO Daniel Saks stated in 2020 that there are no immediate plans to take AppDirect public, a recent $1.5 billion post-money valuation suggests a bright path forward for the company. These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
As the company describes their product, "AppDirect offers a subscription commerce platform that removes the complexity of building a recurring business model. Sell any product, through any channel, on any device—as a service." AppDirect has raised over $470 million in funding from investors including JP Morgan Chase, CDPQ, StarVest Partners, Inovia Capital, and Mithril Capital Management. Since 2012, the company has made 7 acquisitions, most recently of IT Cloud Solutions (ITcloud.ca), one of Canada's largest technology providers.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
09/16/2020 | Series G | $48MM | $xx.xx | $1.54B | Caisse De Depot Et Placement Du Quebec | |
Price per Share
$xx.xx
Shares Outstanding
2,440,721
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Caisse De Depot Et Placement Du Quebec
|
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09/16/2020 | Series G-2 | $50MM | $xx.xx | $1.54B | Caisse De Depot Et Placement Du Quebec | |
Price per Share
$xx.xx
Shares Outstanding
2,174,210
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Caisse De Depot Et Placement Du Quebec
|
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09/16/2020 | Series G-3 | $93.43MM | $xx.xx | $1.54B | Caisse De Depot Et Placement Du Quebec | |
Price per Share
$xx.xx
Shares Outstanding
4,062,918
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Caisse De Depot Et Placement Du Quebec
|
||||||
10/07/2015 | Series F | $32MM | $xx.xx | $1.14B | Desmarais Group, Foundry Group, Inovia Capital, Jp Morgan Chase, Mithril Capital, Starvest Partners, Stingray | |
Price per Share
$xx.xx
Shares Outstanding
1,627,146
Liquidation Pref Order
2
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Desmarais Group, Foundry Group, Inovia Capital, Jp Morgan Chase, Mithril Capital, Starvest Partners, Stingray
|
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10/07/2015 | Series E-1 | $110MM | $xx.xx | $1.14B | Desmarais Group, Foundry Group, Inovia Capital, Jp Morgan Chase, Mithril Capital, Starvest Partners, Stingray | |
Price per Share
$xx.xx
Shares Outstanding
5,593,319
Liquidation Pref Order
3
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Desmarais Group, Foundry Group, Inovia Capital, Jp Morgan Chase, Mithril Capital, Starvest Partners, Stingray
|
||||||
02/11/2015 | Series D-2 | $30MM | $xx.xx | $758.96MM | Mithril Capital | |
Price per Share
$xx.xx
Shares Outstanding
1,777,732
Liquidation Pref Order
4
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Mithril Capital
|
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02/11/2015 | Series D-1 | $45.25MM | $xx.xx | $758.96MM | Mithril Capital | |
Price per Share
$xx.xx
Shares Outstanding
3,243,373
Liquidation Pref Order
4
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Mithril Capital
|
||||||
04/10/2014 | Series C | $35MM | $xx.xx | $285.22MM | Foundry Group, Inovia Capital, Mithril Capital | |
Price per Share
$xx.xx
Shares Outstanding
4,838,475
Liquidation Pref Order
4
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Foundry Group, Inovia Capital, Mithril Capital
|
||||||
09/10/2013 | Series B | $13MM | $xx.xx | $101.1MM | Inovia Capital | |
Price per Share
$xx.xx
Shares Outstanding
4,781,972
Liquidation Pref Order
4
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Inovia Capital
|
||||||
07/18/2012 | Series A-3 | $9.47MM | $xx.xx | $59.69MM | Desmarais Group, Inovia Capital, Stingray | |
Price per Share
$xx.xx
Shares Outstanding
4,575,838
Liquidation Pref Order
4
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Desmarais Group, Inovia Capital, Stingray
|
||||||
04/28/2011 | Series A-1 | $534,847.00 | $xx.xx | $24.53MM | Desmarais Group, Inovia Capital, Stingray | |
Price per Share
$xx.xx
Shares Outstanding
3,209,022
Liquidation Pref Order
4
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Desmarais Group, Inovia Capital, Stingray
|
||||||
04/28/2011 | Series A-2 | $3.08MM | $xx.xx | $24.53MM | Desmarais Group, Inovia Capital, Stingray | |
Price per Share
$xx.xx
Shares Outstanding
2,309,286
Liquidation Pref Order
4
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
6.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
--
Key Investors
Desmarais Group, Inovia Capital, Stingray
|