TechCrunch is reporting that AppDirect has raised a $140 million Series E funding round, led by J.P. Morgan, with participation from the companyâs existing institutional investors: iNovia Capital, Mithril Capital Management, Stingray Digital, and Foundry Group. To date, the company has raised a total of $245 million USD.
The San Francisco-based company essentially uses cloud infrastructure to connect app developers with app-hungry businesses and is not without Canadian connections. AppDirectâs co-founders, Daniel Saks and Nicolas Desmarais, are from Niagara Region and Montreal, respectively. The company also has offices in Montreal and Ottawa, and recently acquired Calgaryâs AppCarousel (more than half of AppDirectâs employees work outside of the U.S.).
The international profile is significant, as Saks told TechCrunch that over half of AppDirectâs revenue comes from outside the U.S. While noting that âwe are very prudent with out capital,â Saks also said AppDirect will use part of the new funding to expand its international growth.