AppDirect Raises $110 Million at $1 Billion Valuation
- Cloud-based software reseller has raised $245 million to date
- J.P. Morgan Asset Management led latest financing round
This article is for subscribers only.
AppDirect Inc., which helps software makers sell their products on the Internet, raised $110 million in a funding round led by J.P. Morgan Asset Management and existing investors at a valuation of $1 billion.
The San Francisco-based startup connects companies seeking to resell software with products such as Microsoft’s Office 365 and Symantec’s Norton antivirus software. AppDirect’s technology, which acts as a cloud-based marketplace that includes billing and distribution, is used by Telstra Corp., Comcast Corp. and other businesses.