AppDirect Raises $80 Million for AppSmart Invest Program, Courts Partners

… sell security solutions it previously hadn’t sold.

Dallas-based NXTSYS Consulting announced its participation in May. The funding from AppSmart allowed NXTSYS to pay off its previous investor and give its CEO and vice president of sales full equity in the company.

Moreover, NXTSYS’ leaders saw Invest as an opportunity to launch a new business focused on extended reality solutions.

NXTSYS’ Dave Wallace

“AppSmart Invest has been a complete game changer for us, allowing us to double down on our growth while keeping 100% ownership and control of our business,” NXTSYS president Dave Wallace said. “The investment has also allowed us to fund the development of an entirely new business that we believe will be transformative to our future.”

AppDirect Capital

Daniel Saks, co-founder and co-CEO of AppDirect, said AppDirect Capital will provide partners “hassle-free access to funding that enables them freedom to grow their business on their terms.”

AppDirect’s Dan Saks

“Our growing network of technology advisers has seen unprecedented demand for cloud and connectivity in recent years. With the launch of AppDirect Capital, we will be able to bolster our AppSmart Invest program while building a catalog of financial products to help advisers grow and scale their business,” Saks said.

Martin Laguerre, CDPQ’s executive vice president and head of private equity and capital solutions, said a “high-value client base” uses AppDirect’s platform.

“With this new investment, CDPQ’s focus on performing technology-driven companies that accelerate the competitiveness of today’s businesses is magnified by our ability to deliver innovative and flexible alternative financing as part of our capital solutions strategy,” Laguerre said.

CDPQ’s Martin Laguerre

Christensen said other programs will come out of the AppDirect Capital portfolio.

CDPQ functions as an active AppDirect shareholder.

“As a long-term partner who supports promising technology companies at all stages of maturity and across asset classes, this complementary investment in the AppDirect Capital program reflects CDPQ’s conviction that new technology business models, such as subscription-based services and platforms, can fuel and sustain performance over the long term,” Alexandre Synnett, CDPQ’s executive vice president and chief technology officer.

Background

AppDirect has been making waves in the agent/broker channel since announcing its acquisition of WTG three years ago. The company bolstered its indirect sales footprint through the acquisition of multiple brokerages/distributors, including Telegration, CNSG and MicroCorp. AppSmart’s portfolio includes legacy connectivity solutions associated with the traditional agent channel as well as security, SaaS applications (like DropBox) and energy.