Appia, the Durham-based provider of a global marketplace and storefronts for mobile application developers, has raised $1.5 million in new equity funding, according to an SEC filing.
In a followup interview, Appia founder and Chief Executive Officer Jud Bowman identified the investor as New York-based Social Internet Fund led by Lou Kerner.
A former Wall Street analyst, Kerner knew Bowman before launching the Social Fund. Bowman said Kerner approached Appia about making a deal.
“He’s really a great guy,” Bowman said. “We’re glad to have him as an investor and to have access to his network.”
No more fund raising was planned at that time, the filing said, and Bowman confirmed that Appia had not been seeking more money when Kerner made his pitch.
Appia also said in the document that no other “business combination transaction” such as a merger or acquisition was involved.
In the interview, Bowman said the third quarter had been an “exceptionally strong” one for Appia with revenues at an all-time high.
Appia recently was named to the “Next Big Thing” list by The Wall Street Journal for the second straight year.
A year ago, Appia raised $10 million.
The company has been growing rapidly, especially in South and Latin America.
Bowman also said the firm is looking to hire seven people. Six of the positions are available in Durham.