AppDirect Co-Founders Nicolas Desmarais (left) and Daniel Saks (right). Photo credit: AppDirect

AppDirect, a subscription e-commerce platform, has announced that it’s raised $185 million in Series F funding from investors including Caisse de dépôt et placement du Québec (CDPQ), a Canadian institutional investor, and Inovia Capital, a venture capital firm with over $1 billion in assets under management. The new funding brings the total raised by AppDirect since its inception to $465 million. Before now, AppDirect last raised funding in 2015 and has experienced remarkable business growth since that time. AppDirect, a Shopify-like e-commerce platform for digital businesses with recurring subscriptions, has grown its annual Gross Merchandise Value (GMV) more than 1500% since 2015 to currently over US$1 billion. The company has also increased its customer footprint to more than 2,000 merchants globally.

AppDirect says it’ll use the new funding to support expansion, hiring, and possible acquisitions. The valuation that came with the new funding isn’t disclosed. AppDirect has headquarters in the cities of San Francisco, California, and Quebec, Canada. 

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