Appia Secures $5MM Debt Funding From North Atlantic Capital
Appia, a mobile user acquisition network, announced it secured $5 million in debt funding from Portland, ME-based venture capital firm North Atlantic Capital while expanding its facility with Silicon Valley Bank.
The capital will be invested primarily in sales and marketing to accelerate customer acquisition and team expansion to support Appia’s already rapidly growing business.
We’re excited to partner with North Atlantic as we build Appia into the leading non-incentivized mobile user acquisition network in the market, said Jud Bowman, CEO of Appia. “This investment is an important one due to the massive growth we’ve seen over the last eighteen months. This growth capital will help accelerate Appia’s continued momentum towards creating a best-in-breed mobile ecosystem focused on the consumer and benefiting both our publishers and advertisers,” Bowman also commented.
“We are very excited to join the Appia team. Appia is solving 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 network of publisher partnerships. 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, by the end of 2014, mobile Internet usage is projected to overtake desktop usage. Because of this, Appia has positioned itself as a key advertising solution in the market bringing performance-focused mobile user acquisition that appeals to the unique needs of the evolving mobile user.
North Atlantic Capital is an expansion stage venture capital firm investing primarily in B2B technology service companies.
Appia is a mobile user acquisition marketplace provider, delivering mobile app downloads to over 700 million users across 200 countries.