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Appia Secures $5MM From North Atlantic Capital, Expands Facility With SVB

April 18, 2013, 07:15 AM
Filed Under: Technology

Appia, a mobile user acquisition network, secured $5 million in debt funding from Portland, ME-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 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.

North Atlantic Capital is an expansion stage venture capital firm based in Portland, ME, investing primarily in B2B technology service companies.

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