AppDirect Fuels Growth with Standing Cloud Acquisition, New Funding
AppDirect is bolstering its service brokerage platform with the acquisition of Standing Cloud, a VC-backed provider of application management software that operates out of Boulder, Colorado. Terms of the deal were not disclosed.
Standing Cloud offers an application orchestration layer that makes it easier for cloud providers to deploy and deliver software-as-a-service solutions. The startup claims that its offering has been implemented by several big-name technology vendors, including IBM, Amazon, Rackspace and Savvis.
AppDirect plans to fuse Standing Cloud’s software into its application marketplace in an effort to gain a technological edge over competitors. The latter firm’s management technology will complement the consolidated billing and administration capabilities that are already available through the exchange.
“Both AppDirect and Standing Cloud have worked to develop technologies that make the cloud easier to use. With this acquisition, we can join forces to accelerate the speed of innovation and move faster than ever before,” said Daniel Saks, the president and co-CEO of AppDirect. “We’re thrilled to work with a team that’s as excited about cloud services technology as we are.”
Under the terms of the acquisition, AppDirect will join the Foundry Group’s portfolio of companies. Foundry and other backers invested $10 million in Standing Cloud since its foundation in 2009.
AppDirect announced the buyout after securing $9 million in a Series B round of funding led by existing investor iNovia. The company said that it will use the capital to “continue its rapid, aggressive growth” and expand into new markets.
Like many other firms in the enterprise app business, AppDirect’s growth strategy hinges on developers. The firm reiterated its support for the technical community last December, when it launched an incubator program that promises to equip engineers with the business know-how they need to start their own startups.
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