Mobile user acquisition network Appia secured $5 million in debt funding, which it plans to invest in sales and marketing to accelerate customer acquisition, and to expand its team.
The company said its revenue grew by more than 3.5 times between 2011 and 2012, and it was named by the Wall Street Journal as one of the top 50 venture backed companies in 2011 and 2012.
The funding comes from venture capital firm North Atlantic Capital and an expansion of a Silicon Valley Bank debt facility.
“Appia is solving two major problems that mobile app developers face today – discovery and distribution. As the app ecosystem continues to evolve, Appia will serve as a vital partner for developers and publishers alike,” said David Coit, managing partner of North Atlantic Capital.