Appia Secures $5 Million in Debt Funding from North Atlantic Capital
Published on: 18th Apr 2013
Note -- this news article is more than a year old.
By: Ian Mansfield
Appia which describes itself as a "mobile user acquisition network" has secured $5 million in debt funding from Portland Maine 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.
"We're excited to partner with North Atlantic as we build Appia into the leading non-incentivized mobile user acquisition network in the market," said Jud Bowman, CEO of Appia. "This investment is an important one due to the massive growth we've seen over the last eighteen months," Bowman also commented.
According to comScore, by the end of 2014, mobile Internet usage is projected to overtake desktop usage. Because of this, Appia says that it has positioned itself as a key advertising solution in the market bringing performance-focused mobile user acquisition.