Caisse de depot allocates $185m in AppDirect

Canadian pension fund Caisse de depot et placement du Quebec (CDPQ) has invested $185 million in leading subscription commerce platform AppDirect. The new investment brings the total equity raised by AppDirect to approximately $465 million. Officials say that since its 2015 funding round the company has experienced growth and expanded its global footprint to include more than 2000 merchants around the globe. The latest funding will go to accelerate its organic expansion, strategic acquisitions, and additional hiring. “AppDirect has established itself as the global leader in the application market for cloud services delivery. They are experiencing rapid growth, and the quality of its client network illustrates the success of its model,” said Thomas Birch, global managing director, venture capital and technology at CDPQ. “AppDirect plays a key role in simplifying the digitalization of businesses through cloud services and CDPQ’s investment will contribute to the acceleration of its growth plan.” The C$333 billion ($253 billion) CDPQ has roughly C$50 billion in public equity. AppDirect opens vast options for organizations to quickly launch, scale, and transform their subscription business. The AppDirect platform powers millions of subscriptions worldwide, transforming commerce for leading companies like Vodafone, Keller Williams, ADP, Honeywell, and Deutsche Telekom; connecting their customers to the solutions they need to reach their full potential in the digital economy.

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