We’re excited to partner with North Atlantic as we build Appia into the leading non-incentivized mobile user acquisition network in the market.
(PRWEB) April 17, 2013
Appia, the leading mobile user acquisition network, today announced it secured $5 million in debt funding from Portland, Maine-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.
Appia, named to 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 3.5 times growth from 2011 to 2012. “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.
About North Atlantic:
North Atlantic Capital is an expansion stage venture capital firm based in Portland, Maine, investing 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. Established 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, Tangoe, Voxeo, and Zmags.
Appia is the leading mobile user acquisition marketplace, delivering mobile app downloads to over 700 million users across 200 countries. Ranked #22 on the Wall Street Journal’s 2012 Top 50 Venture-Backed Companies, Appia provides non-incentivized performance mobile solutions for developers, publishers and advertisers. For more information, visit appia.com.