Startup AppDirect Funded at $600 Million Valuation
This article is for subscribers only.
AppDirect Inc., which helps Microsoft Corp., Box Inc. and other companies sell software online, raised $50 million at a $600 million valuation as more people download software and subscribe to applications via the Web.
The round was led by Mithril Capital Management, the late-stage investment firm founded by Ajay Royan and Peter Thiel, co-founder of PayPal and early investor in Facebook Inc., the company said in a statement Wednesday. Former investors StarVest Partners, INovia Capital and Foundry Group also participated in the financing, bringing total funding to date to $110 million.