Appfire, a software development company headquartered in Boston, announced on Tuesday that it had closed. On a $100 million investment from growth private equity firm TA Associates, capping off a year of unprecedented expansion.
Boston Based Appfire Atlassian Confluence 100m 49m
Appfire, a consulting firm, launched its business in 2005. In 2013, it transitioned from a partnership with Australian software firm Atlassian to that of a standalone product company.
Since then, the company has been well-known for being an early adopter of the Atlassian Marketplace. Where it publishes and distributes apps that help companies like Google, Amazon, and Starbucks with workflow automation and business intelligence, among other things.
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Appfire’s 85 products have been downloaded more than 110,000 times around the world. Before getting a $49 million investment from Silversmith Capital Partners in June, the company had been operating for approximately 15 years using only its own finances.
It has since acquired six companies operating inside the Atlassian ecosystem, including Artemis, Beecom, Bolo, Botron, Innovalog, and Navarambh. Appfire’s co-founder and current CEO, Randall Ward, is confident that the investment from TA
Associates will help the company continue its global expansion and build out its software offering to meet the needs of a growing customer base.
This investment is a genuine tribute to our excellent team and further supports our vision, strategy, and execution,” Ward noted in an email to Built In.
We are in a position to invest in the product categories where we can provide the most value to the teams we acquire.
And the customers we can serve as a whole because of our robust financial footing, amazing relationships, and abundance of data.
Our plan all along has been to team up with the most knowledgeable people in our field. We have the resources to implement this on a large enough scale to realise our vision for 2021 and beyond.
Appfire: What is It?
Workflow Automation, Product Portfolio Management, IT Service Management, Document Management.
Business Intelligence and Reporting, Administrative Tools, Agile, Developer Tools, and Publishing are just a few of the many popular Appfire programmes.
Following a number of significant acquisitions over the past few years, Atlassian is currently in the process of consolidating all of its app brands onto a single platform called Appfire.
As we move into 2022, you may expect to see a rising number of apps in this account; you can track our development at appfire.com/one-appfire.
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Conclusion
Ward claims that in 2020, Appfire’s workforce rose by more than double as a consequence of new hires and acquisitions.
It plans to hire more people this year, particularly in the areas of product management, marketing, business systems, finance, and support.
