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Mithril Capital leads $35m AppDirect Series C round

11 Apr 2014

question-onlineMithril Capital Management has led a $35m Series C financing round for cloud service marketplace and management business AppDirect.

Existing investors iNovia and Foundry Group also took part in the round for AppDirect, which expanded its reach to 20 million businesses in the last 12 months.

Mithril co-founder and managing general partner Ajay Royan said, “AppDirect has created a new category of software that makes technology intuitive and easy to use.

“Thanks to AppDirect, what we used to call the cloud is solidifying into a concrete and useful resource for countless businesses.

“We invested in AppDirect because we think its rapid growth, constant innovation, and foothold in several industries mark the potential for durable growth as well as transformation of the software economy.

“Our investment will help AppDirect grow its team and service in order to drive its global impact as a major player in the cloud space.”

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