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AppDirect, the leading subscription commerce platform, announced investments of USD $185 million from global institutional investor Caisse de dépôt et placement du Québec (CDPQ) and existing investors.
The $185 million in funding brought the total equity raised by AppDirect to approximately $465 million.
Since its funding round in 2015, AppDirect has experienced tremendous growth across all indicators – increasing Gross Merchandise Value (GMV) more than 1500 percent since 2015 to over US$1 billion, expanding its global footprint, and servicing more than 2000 merchants around the globe.
The new funding supports accelerated organic expansion, strategic acquisitions and additional hiring.
“Today, businesses are facing unprecedented challenges. Many companies began digital selling practically overnight, but need assistance integrating new technologies and processes into their operations and making them work at scale for the long-term,” said Daniel Saks, President and Co-CEO of AppDirect.
“Our mission at AppDirect has always been to make technology globally accessible, and we are rising to meet that calling at a time when it feels especially urgent. We couldn’t be more excited that CDPQ and our existing investors are partnering with us on that journey as we enter a new phase of expansion. This renewed support from new and existing long-term partners reaffirms their confidence in our vision, our growth trajectory, and the market opportunity.”