AppDirect, a San Francisco, CA-based provider of cloud services for ecommerce, raised $140m in Series E funding.
The round was led by J.P. Morgan Asset Management with participation from Foundry Group, iNovia Capital, Mithril Capital Management, StarVest Partners and Stingray Digital.
The company, which has raised $245m in total funding, intends to use the funds to continue to invest in capabilities for businesses to manage multiple applications and services, increase productivity and drive IT efficiency.
Founded in 2009 and led by Daniel Saks, AppDirect provides a cloud service commerce software which includes catalog management, identity management, subscription billing and data management.
In addition, the company-powered marketplaces, billing and distribution, and reselling services allows providers – including Telstra, ADP, Samsung, Deutsche Telekom and others – to connect millions of businesses to solutions from Microsoft, Google, Box etc.
AppDirect currently has more than 350 team members located around the world in San Francisco, Sydney, Munich, Montreal, Ottawa, Boulder, London, Paris, Stockholm, Singapore, and Tokyo.