CDPQ's Year-End Innovation Blitz
AppDirect®, the leading subscription commerce platform company, and Caisse de dépôt et placement du Québec (CDPQ)1, a global investment group, today announced an investment of USD 80 million (CAD 100 million) to launch AppDirect Capital, which offers a set of innovative funding programs dedicated to the growth and transformation of channel partners. CDPQ’s investment will accelerate AppDirect Capital’s AppSmart Invest program, previously launched this year, which provides flexible capital for technology partners to transform or scale their business with AppSmart, as well as other forthcoming financial products.
AppSmart, a division of AppDirect, is exclusively dedicated to helping channel partners and technology advisors start and scale their recurring revenue businesses. Technology partners who participate in the AppSmart Invest program maintain 100% ownership and control of their business while gaining access to the AppSmart brand, digital back office tools, and the AppSmart Marketplace to offer their clients a vast ecosystem of software and business services.
“Our growing network of technology advisors 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 advisors grow and scale their business," said Daniel Saks, Co-Founder and Co-CEO of AppDirect. "AppDirect Capital is purpose-built for channel partners and offers them simple, hassle-free access to funding that enables them freedom to grow their business on their terms.”
“AppDirect has established itself as a subscription commerce platform at the forefront of innovation and agility, carving out a leading position in this rapidly growing market,” said Martin Laguerre, Executive Vice-President and Head, Private Equity and Capital Solutions at CDPQ. “AppDirect Capital is backed by AppDirect’s proven business model, which we know well, and a high-value client base that uses its platform to drive its core business. 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.”
“AppDirect has thrived over the past decade and is well positioned to capitalize on the complex needs of technology providers and their client networks,” said Alexandre Synnett, Executive Vice-President and Chief Technology Officer, CDPQ. “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.”
Since its initial equity investment in 2020, CDPQ has been an active shareholder of AppDirect and partner to AppDirect as it continues to expand its business in Montréal.
With AppSmart Invest, channel partners gain access to a faster, less onerous, alternative to traditional M&A, as successfully undertaken by numerous other participants, including Global Communications Group, NXTSYS, On Track Communications, US Network, PSI Network and Netstar Communications. Interested advisors can find more information at appsmart.com.
“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,” said Dave Wallace, president of NXTSYS Consulting. “The investment has also allowed us to fund the development of an entirely new business that we believe will be transformative to our future - providing businesses with Extended Reality solutions - which wouldn’t have been possible otherwise.”
1 CDPQ is acting through a wholly owned subsidiary.
AppDirect offers a subscription commerce platform that removes the complexity of building a recurring business model. Sell any product, through any channel, on any device—as a service. Our platform opens up endless opportunities for commerce innovation, giving businesses the freedom to grow. AppDirect also powers AppSmart, a B2B technology marketplace and ecosystem connecting technology buyers with expert advisors to make it easier to sell, buy and manage telecommunications, cloud and business services.
Headquartered in San Francisco, AppDirect is trusted by brands such as Microsoft, Google, Deutsche Telekom, Jaguar Land Rover, ADP, and many more.
You can read more on how AppDirect Capital aims at providing its technology partners with a more flexible form of financing to power their growth here.
Next, VOSKER raised a $100 million financing from several investors, including CDPQ:
VOSKER, we’re proud to be one of the premier providers of solar-powered and cellular-enabled monitoring technology on the planet. Whether you want to keep a close eye on your lake house, or your company wants to secure its sites, we provide the tools to make you see further. People use VOSKER’s technology every day to take millions of photos and videos of remote places in over 50 countries.
Founded in 2018, in Victoriaville, Quebec, our main products and services are marketed under the SPYPOINT and VOSKER brands. We are able to push the boundaries of what is possible thanks to our 400 talented employees.
Third, CDPQ and bp ventures announce collaboration and joint investment in BTR Energy: