Tuesday, September 10, 2013

AppDirect Raises $9M, Acquires Standing Cloud

San Francisco-based cloud marketplace developer AppDirect said this morning that it has raised $9M, and acquired fellow cloud management service provider Standing Cloud. The Series B funding round was led by iNovia Capital. As part of the acquisition deal, AppDirect also said that it has become a portfolio company of the Foundry Group, the investment firm of Brad Feld. Standing Cloud was venture backed by Foundry Group and Avalon Ventures. More information »