AppDirect closes a $9M series B round and a second acquisition – Standing Cloud

by on September 10, 2013

iNovia Capital portfolio company AppDirect a leading cloud service marketplace company, announced today that it has acquired Standing Cloud, a provider of cloud management services, such as automated software packaging and orchestration, that enable fast, seamless application deployment and management. Together, AppDirect and Standing Cloud now provides an unparalleled cloud marketplace and management solution that offers more features and functionalities than any other competitor, technology that be used by almost any provider for any type of use case, from public app marketplaces to internal enterprise application stores.

Concurrent to the acquisition, AppDirect has also closed its Series B round of funding, securing $9 million from existing investors. Lead by iNovia Capital, the company’s Series B will enable AppDirect to continue its rapid, aggressive growth and capture more of the expanding global cloud computing market, a sector predicted to grow to $241 billion by 2020. In addition, former Director of McKinsey & Company Tsun-Yan Hsieh is now serving as a special advisor to AppDirect. Hsieh is a business leader with extensive experience in international business and leadership. Currently, he serves as a board member of Sony Corporation and Bharti Airtel Limited.

“iNovia doubled up on AppDirect because the team can execute, it’s as simple as that. And now, with this acquisition, we expect accelerate growth and cloud service marketplace leadership.”

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Articles:

Techvibes: AppDirect Acquires Standing Cloud, Raises $9 Million in Series B Funding Round

BetaKit:  Canadian Duo Behind AppDirect Secures $8 Million Series B Round

Journal Les Affaires:  Ces deux Montréalais, co-PDG d’@AppDirect, viennent de compléter une ronde de 9 millions USD dirigée par @inovia

PandoDaily:  AppDirect raises $9M, acquires Standing Cloud to help businesses adopt a hybrid network in the NSA’s wake

San Francisco Times: AppDirect raises $9 million more for cloud marketplaces

Denver Post: Boulder-based Standing Cloud acquired by AppDirect

VatorNews: AppDirect Consolidation in the cloud app marketplaces for small- to medium-sized businesses

Boulder County Business Report:  AppDirect acquires Boulder startup Standing Cloud