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

PR Newswire

MOUNTAIN VIEW, CA, April 28

MOUNTAIN VIEW, CA , April 28 /PRNewswire/ – 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

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