Total amount raised
$535.5 Million
Latest funding date
2/1/2024
Location
Appian has successfully raised funding over eight rounds, with the latest being a USD 50 million term loan increase in February 2024. The company is backed by investors such as New Enterprise Associates and Novak Biddle Venture Partners.
What Is Appian?
Appian, headquartered in McLean, Virginia, is a prominent player in the software industry, specializing in digital transformation, low-code application development, and business process management. The company operates in various sectors, including Business Process Automation (BPA), Data Management, Developer Tools, Enterprise Software, InsurTech, Robotic Process Automation (RPA), and Software.
Founded by Matt Calkins, Appian has grown significantly, boasting an employee count between 1001-5000. The company is publicly traded under the ticker NASDAQ:APPN and is recognized for its AI-powered process automation solutions that cater to diverse industries such as Financial Services, Insurance, Public Sector, and Life Sciences.
How Much Funding Has Appian Raised?
- Series A
- Amount Raised: USD 10,000,000
- Date: July 2008
- Lead Investors: Novak Biddle Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its market presence and accelerate product development.
- Series Unknown
- Amount Raised: USD 37,499,994
- Date: March 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance its AI-powered process automation capabilities and support further growth.
- IPO
- Amount Raised: USD 69,750,000 (proceeds to Appian before expenses, net of underwriting discounts; gross offering USD 75,000,000 at USD 12.00 per share, before the over-allotment option)
- Date: May 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Post-IPO Equity (follow-on offering)
- Amount Raised: USD 58,258,175 (proceeds to Appian before expenses; selling stockholder proceeds excluded)
- Date: August 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Post-IPO Equity (follow-on offering)
- Amount Raised: Approximately USD 101.7 million (proceeds to Appian before expenses; selling stockholder proceeds excluded)
- Date: September 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Post-IPO Equity (follow-on offering)
- Amount Raised: USD 108,244,096.30 (proceeds to Appian before expenses; selling stockholder proceeds excluded)
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Post-IPO Debt (term loan)
- Amount Raised: USD 100,000,000 (five-year secured term loan)
- Date: November 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Appian said it would use the term loan proceeds to fund the continued growth of its business.
- Post-IPO Debt (term loan increase)
- Amount Raised: USD 50,000,000 (increase to the secured term loan facility)
- Date: February 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Appian said it would use the term loan proceeds to fund the continued growth of its business and support working capital requirements.
Appian has raised a total of USD 535,452,265. The current valuation is not publicly disclosed. IPO and follow-on amounts are Appian's proceeds before expenses, excluding selling stockholder shares, the November 2017 secondary offering and revolver draws.
Key Investors
- New Enterprise Associates
- Details: New Enterprise Associates (NEA) is a global venture capital firm that invests in technology and healthcare companies at all stages of growth. Founded in 1977, NEA has a long history of supporting innovative startups and established enterprises.
- Investment Focus Areas: Technology, Healthcare, Consumer
- Notable Investments: Robinhood, Coursera, Duolingo
- Novak Biddle Venture Partners
- Details: Novak Biddle Venture Partners is a venture capital firm that focuses on early-stage investments in technology companies. The firm is known for its hands-on approach and strong network in the tech industry.
- Investment Focus Areas: Technology, Software, Internet
- Notable Investments: Blackboard, Brivo, Appian
What's Next for Appian?
In February 2024, Appian increased its secured term loan facility by USD 50.0 million to USD 200.0 million. This financial boost positions Appian to capitalize on the increasing demand for AI-powered process automation across various industries.
Future fundraising opportunities appear promising as the company continues to innovate and enhance its platform. However, Appian may face challenges such as market competition and economic fluctuations. Navigating these hurdles will be crucial for sustaining its growth trajectory and achieving long-term success.
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