Appia, the leading mobile user acquisition network, today announced that it has secured $5 million in debt financing from Portland, Maine-based venture capital firm North Atlantic Capital, while expanding its Silicon Valley Bank facility. Capital will be invested primarily in sales and marketing to accelerate customer acquisition and team expansion to support Appia’s fast-growing business.
Appia, named in the Wall Street Journal’s Top 50 Venture-Backed Companies List in both 2011 and 2012, continues to see significant revenue growth, with more than 3 companies. Five-fold growth from 2011 to 2012. “We’re excited to partner with North Atlantic as we build Appia into the leading non-incentivised mobile user acquisition network on the market,” said Jud Bowman, CEO of Appia. “This investment is an important one because of the massive growth we’ve seen over the last 18 months. This growth capital will help accelerate Appia’s continued momentum towards creating a consumer-focused, best-in-class mobile ecosystem that will benefit both publishers and advertisers,” Bowman said.
“We’re very excited to join the Appia team. Appia solves two major problems that mobile app developers face today: discovery and distribution. Appia helps drive high-quality user acquisition for leading app developers through its publisher partnership network. At the same time, Appia helps publishers generate more revenue by delivering high quality content. As the app ecosystem continues to evolve, Appia will serve as a vital partner for developers and publishers alike,” said David Coit, Managing Partner at North Atlantic Capital.
According to comScore, mobile Internet usage is projected to overtake desktop usage by the end of 2014. As a result, Appia has positioned itself as a key advertising solution on the market that delivers performance-focused mobile user acquisition that appeals to the unique needs of an evolving mobile user.
About the North Atlantic Ocean:
North Atlantic Capital is an expansion stage venture capital firm based in Portland, Maine, which invests primarily in B2B technology service companies. North Atlantic provides both equity and subordinated debt investment structures to high-growth companies with unique technologies that address large market opportunities. Founded in 1986, North Atlantic is currently investing its fourth fund, capitalized at $100 million and raised in 2006. Other current investments in the fourth fund include Autotask, ConnectEDU, OnForce, Synacor, Tango, Voxeo and Zmags.
Appia is the leading mobile user acquisition market, delivering mobile app downloads to more than 700 million users across 200 countries. Ranked #22 in the 2012 Wall Street Journal’s Top 50 Venture-Backed Companies, Appia provides non-incentive mobile performance solutions for developers, publishers and advertisers. Visit appia for more information. Come on,
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