July 18, 2012

AppDirect Nails $8.5M To Build A Cloud App Store, Rackspace Newest Partner

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AppDirect, a company that offers white-label cloud-based app stores, has today announced $8.5 million in funding to ride the wave of interest in cloud services and continue its expansion in partnership with third parties. And today the company also announced a new customer in that strategy: Rackspace, which has launched the Rackspace Cloud Tools Marketplace, an online store for cloud-based software and services to more than 180,000 Rackspace customers worldwide.

The Series A round was led by iNovia Capital with participation from existing investors, and comes on the back of a seed round of $3.25 million raised last year.

Cloud services have been steadily picking up momentum in the enterprise — Gartner just the other week noted that they will be the fastest growing segment of enterprise services in the years ahead and will total $109 billion this year.

 
Read more at TechCrunch