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AppDirect raised $50m in its latest round

AppDirect raised $50m in its latest round

Cloud app store specialist AppDirect has secured $50m in its latest round of funding, bringing the total capital raised by the firm to just over $110m.

The latest funding round, led by Mithril Capital Management, comes less than a year after the firm secured $35m.

Cloud app marketplaces have grown in popularity over the past few years as enterprises look towards the app store model of deploying apps within their organisations, and the company said the latest round of funding will go towards expanding its sales and marketing teams with new hires in its Montreal and Munich office.

It plans to double its headcount from 150 to 300 over the next year.

“We are committed to making software accessible and empowering the global software economy through cloud service commerce,” said Daniel Saks, co-founder and co-chief executive officer of AppDirect.

“We’re dedicated to delivering the best omni-channel cloud service experience to our customers across the world. As the cloud becomes increasingly critical for businesses of every size, our strategy enables all cloud services, across all channels, all verticals, all devices, for all types of businesses,” Saks said.

The company also said it wants to break into Asian and Latin American markets, high growth markets for cloud services where other large enterprise IT incumbents like IBM and SAP have redoubled efforts; both of those firms have also recently launched cloud service marketplaces.