AppDirect Raises $3.25M to Reinvent the Way Businesses Find, Buy and Use Web-Based Applications

MOUNTAIN VIEW, CA, April 28 /CNW/ - At the Under the Radar Conference today, AppDirect announced a $3.25M seed round and introduced a new way for businesses to find, buy and use web-based software. Through a network of branded application marketplaces, the San Francisco-based company aims to become a central hub in the rapidly growing community of distributors, developers, and users of business applications.

"Hundreds of incredible web-based applications exist today that can help businesses operate more efficiently. However, many businesses have trouble finding the right web-based solutions and struggle to manage them across multiple sites." said President and co-founder Daniel Saks. "We believe our network will reinvent the way businesses find, buy, and use applications in one seamless experience."

The AppDirect "Business Application Network" provides businesses with a single place to subscribe to applications, provision access to their colleagues, and pay just one monthly bill for all of their app subscriptions. With the public beta launch, users can now start signing up and browsing through AppDirect's growing inventory of applications. To help businesses find the perfect solutions, AppDirect has developed an intelligent recommendation engine that guides users towards the most relevant applications for their business.

Developers can easily distribute their applications through the Network by connecting to the AppDirect API.  AppDirect offers application developers greater reach to businesses through its branded Marketplace-as-a-Service platform. Their first white-labeled marketplace, the Bell Business Apps Store, was launched by Canada's largest telecommunications company to service their significant base of SMB clients.

"With several new marketplaces coming this year, AppDirect will provide a single point of integration for Application Developers to reach millions of businesses across the world," says Daniel Saks. "For Channel Partners, it represents the fastest and most economical way to offer cloud services to their existing customer base."

In addition, AppDirect has announced the close of $3.25M seed round led by iNovia Capital. They plan to use the funding to scale their engineering team and extend their Application Network to foreign markets.



About AppDirect:

AppDirect is a free and private Application Network that allows businesses to find, buy, and use web-based software. With one seamless interface, businesses can subscribe to applications, assign colleagues to multiple apps, and pay just one monthly bill for all their subscriptions. Through its network of branded Marketplaces, AppDirect provides Application Developers with a single point of integration to reach millions of businesses across the globe. For Channel Partners, AppDirect is the fastest and most economical way to launch a branded web-based business application marketplace.   For more information, visit www.appdirect.com or follow AppDirect on Twitter at www.twitter.com/appdirect.

About iNovia:

iNovia is passionate about backing exceptional entrepreneurs focused on building great technology companies. The team is comprised of entrepreneurs and sector experts focused on Mobile, Consumer Internet, Internet Communications, Software and Digital Media. iNovia has $165M under management across two seed and early stage funds. For more information, visit www.twitter.com/appdirect or follow iNovia on Twitter at www.twitter.com/iNovia.

SOURCE INOVIA CAPITAL

For further information:

For more information or to schedule an interview with Daniel Saks, please contact Max Rhodes at 877-404-2777 X407 or press@appdirect.com

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