AppDirect secures USD 185 mln of funding to fuel global expansion

Monday 21 September 2020 13:18 CET | News

Subscription commerce platform AppDirect has announced investments of USD 185 million from Caisse de dépôt et placement du Québec (CDPQ) and existing investors.

According to the press release, the USD 185 million in funding brought the total equity raised by AppDirect to approximately USD 465 million. The initiative comes as the world of products and one-time transactions has transformed into a new era of subscription commerce with predictable, recurring revenue for everything from software and consumer media streaming services to heating and air conditioning maintenance. However, many companies are running into the limits of their subscription billing tools, making it difficult to bring products to market quickly.  

Therefore, the investment will help organisations that need to support full subscription commerce. The transition includes integrating commerce flows from any online or off-line sales channels while at the same time meeting customer demand for instant provisioning of tools and services.  

AppDirect opens vast options for organisations to quickly launch, scale, and transform their subscription business. The AppDirect platform powers millions of subscriptions worldwide, transforming commerce for companies like Vodafone, Keller Williams, ADP, Honeywell, and Deutsche Telekom, while connecting their customers to the solutions they need to reach their full potential in the digital economy.

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Keywords: AppDirect, subscription commerce, investment, Caisse de dépôt et placement du Québec, CDPQ, recurring revenue, Vodafone, Keller Williams, ADP, Honeywell, Deutsche Telekom
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce