AppDirect Raises $8.5 Million And Opens Up Its Marketplace

Daniel SaksDaniel Saks, AppDirect president and co-CEO

AppDirect, an online marketplace that manages and provides cloud based tools for businesses, just announced it has raised $8.5 million in funding.The startup has also teamed up with Rackspace to launch its Cloud Tools Marketplace, which will now provide the hosting company with a virtual store for cloud software.

The Series A funding was led by iNovia Capital. It comes a little over a year after AppDirect raised $3.25 million in seed funding.

AppDirect plans on using the funds to grow partnerships and help the company “become the leader in the cloud services brokerage space,” president and co-CEO Daniel Saks said in a statement.

“When we founded AppDirect, our mission was to change the way that businesses find, buy, and manage cloud-based software, and I’m proud of the progress we’ve made in such a short time. But, we’re just getting started,” said Saks. “This funding not only validates all of the hard work we’ve put into the platform, but also helps us continue to innovate on our products in new and exciting ways to make them even better.”

Since AppDirect landed its seed investment, the company has struck partnerships with companies like Deutsche Telekom. It has also been able to bring Google, DocuSign, New Relic, and SendGrind to its network.

AppDirect is excited about collaborating with Rackspace to provide cloud applications to over 180,000 of the hosting companys customers.

“The Cloud Tools Marketplace is a great example of what can happen when two innovative technology leaders work together, and we’re thrilled that our platform not only makes it easier for Rackspace customers to find and manage the cloud-based solutions they need, but also raises the bar for cloud service marketplaces everywhere,” Saks said in a statement. 

Customers on Rackspace just need to search for products and look at reviews and ratings in order to see if the products is a good fit. 

“At Rackspace, we’re known for our commitment to our customers, and the Cloud Tools Marketplace helps us take that dedication to the next level,” said Ven Shanmugam, senior manager of corporate strategy at Rackspace, said in a statement.

Check out screen shots below:

Rackspace and AppDirect Screen Shot
Rackspace and AppDirect Screen Shot1

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