PYMNTS MonitorEdge May 2024

AppDirect Acquires Builtfirst to Expand Marketplace Solutions

AppDirect has acquired Builtfirst, saying this will further its aim to become “the premier destination for marketplace solutions.”

The acquisition adds Builtfirst’s self-service marketplace platform technology to AppDirect’s suite of solutions focused on its business-to-business (B2B) commerce platform, the companies said in a Thursday (May 9) press release.

“This acquisition provides an immediate pathway for Builtfirst customers to move to commerce. Which is the natural progression for any marketplace,” Andy Ellerhorst, vice president of corporate development and chief of staff at AppDirect, said in the release.

In addition to being beneficial for Builtfirst’s customers, the acquisition will add a new line of business for AppDirect, Ellerhorst added.

Builtfirst offers a low code/no code approach to launching a marketplace, making it possible to do so in minutes, according to the release.

With the addition of the company to AppDirect, Builtfirst customers will have access to additional benefits and functionality like the ability to leverage AppDirect’s digital commerce platform, the release said.

This offering will help organizations meet the growing demand from buyers who want to make their purchases through marketplaces and will provide them with multiple options for doing so, per the release.

“By joining the AppDirect team, Builtfirst will become part of an organization that’s founded on the same mission: to make technology universally accessible,” Aaron Bailey, co-founder and CEO of Builtfirst, said in the release. “AppDirect has a wealth of experience and knowledge in the enterprise space, and with the addition of the Builtfirst platform, we now become a global powerhouse to meet all B2B marketplace demand.”

This acquisition comes about four months after AppDirect raised $100 million to fund its investment program, supporting financing options for technology advisers through the AppDirect Capital Invest program.

That program combines “upfront, non-restrictive capital with the power of the AppDirect Marketplace, allowing technology advisers to use the capital to scale, innovate, retain top talent, or make outside investments while maintaining 100% ownership of their business,” the company said at the time in a press release.

It also comes about two years after the company acquired Canadian cloud technology company ITCloud.ca in a move AppDirect said would broaden the reach of the AppSmart B2B tech marketplace across Canada.