Appia Raises $4.5 Million In A Debt Round
Appia is a Durham based startup that has raised $4.5 million in a debt round. This money will be used to fund their operations throughout 2014, according to chief revenue officer Ken Hayes. North Atlantic Capital provided Appia with the funding. North Atlantic Capital previously invested $5 million in Appia back in April.
“We had a record year,” stated Hayes. “Our investors are very bullish. We had an opportunistic fund-raise opportunity in front of us to bolster our balance sheet, and we decided to go ahead and take the funding. Our philosophy is, the companies with the strongest balance sheets are going to be in the best opportunity to capitalize on the market.”
Appia currently has 84 employees and they will likely have more job opportunities in the near future. Appia is working on building the largest app install ad network. Their first two quarters of the year has surpassed sales for all of 2012.