AppHub Funding, Investors & Competitors

AppHub has raised $155M across 2 funding rounds, most recently a $95M undisclosed-stage round in July 2023.

Last AppHub funding round

$95M

Undisclosed stage · Jul 2023

Cumulative funding AppHub raised

$155M

across 2 funding rounds

Key investors in AppHub

  • Silversmith Capital Partners
  • PSG Equity

AppHub Overview

About AppHub

AppHub is a suite of e-commerce software tools for merchants partnering with platform developers. The company focuses on integrations for Shopify and BigCommerce to enhance checkout, inventory, and marketing automation. AppHub advances commerce through apps for personalization and omnichannel sales.


Founded

2021

HQ

United StatesBoston, MA

Website

apphub.com

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

AppHub Funding History

AppHub has raised a total of $155M across 2 funding rounds.

AppHub's first fundraising round was a $60M Series A in April 2022. The most recent completed round was a $95M undisclosed-stage round in July 2023.

AppHub funding rounds

AppHub funding rounds
DateStageInvestorsRaisedDeal Summary
Jul 2023Undisclosed stagePSG Equity (lead); Silversmith Capital Partners$95MAppHub is an e-commerce enablement platform that provides a suite of over 25 software applications to drive merchant growth across platforms like Shopify, WooCommerce, and BigCommerce, serving more than 100,000 merchants. Founded in 2021 in collaboration with Silversmith Capital Partners, the company previously raised $60 million from Silversmith in early 2022 and has pursued an aggressive M&A strategy, completing nine founder-led acquisitions including REVIEWS.io and AI-powered search tool Boost around the time of the latest funding. On July 25, 2023, AppHub announced a $95 million strategic growth investment led by PSG Equity, with participation from existing investor Silversmith Capital Partners. The investment aims to accelerate platform expansion, enhance capabilities for customer acquisition, conversion optimization, review generation, and user-generated content, while fueling further mergers and acquisitions in the fragmented e-commerce app ecosystem. AppHub's products address key merchant needs from sales generation via tools like ViralSweep, social proof with NextSale, checkout upsells through Orderbump, to post-purchase returns automation. CEO Kris Eng highlighted the role of investors Silversmith and PSG in advancing e-commerce software amid increasing complexity, with PSG's Matt Stone noting the platform's strong growth profile and potential to scale mission-critical solutions. The funding comes as the Shopify app ecosystem matures, with competitors like Klaviyo and Attentive eyeing IPOs and smaller apps becoming acquisition targets amid a tougher VC climate. AppHub, described as profitable by CEO Eng, positions itself to consolidate and lead by building and buying apps tailored for online sellers. Kirkland & Ellis advised on the PSG investment and Boost acquisition, underscoring the transactions' strategic importance for geographic and product expansion.
Apr 2022Series ASilversmith Capital Partners (lead)$60MAppHub is an eCommerce software platform based in New York and San Francisco that provides an integrated suite of best-of-breed applications for merchants on platforms like Shopify, Magento, and WooCommerce. The company serves over 100,000 merchants with more than 20 applications designed to help eCommerce businesses start, grow, and scale. In April 2022, AppHub raised $60 million in a Series A round led by Silversmith Capital Partners, a Boston-based growth equity firm. The funds were intended to support internal development of new applications and strategic acquisitions to expand its software suite. Silversmith Capital Partners' investment included board additions such as Sri Rao and Lyndsay Kerwin from the firm, alongside Chris Hecht from Databricks and AppHub co-founders Kris Eng and Arjun Batra. Kirkland & Ellis advised Silversmith on the growth investment transaction. The round was highlighted as one of NYC's top funding rounds in April 2022.

Who has invested in AppHub?

2 investors have backed AppHub across its funding rounds, including Silversmith Capital Partners and PSG Equity.

Lead investors include PSG Equity and Silversmith Capital Partners.


AppHub Investors

Investors in AppHub by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by AppHub

AppHub has acquired 2 companies to date.

Last acquisition by AppHub was on July 25th 2023. AppHub acquired Boost Commerce for undisclosed valuation.


Latest Acquisitions by AppHub

Boost Commerce
Reviews.io
Description
Boost Commerce is a Shopify-focused e-commerce technology provider offering AI-powered product filters and search apps. Its tools optimize discovery and navigation for online stores, driving higher conversions on Shopify and Shopify Plus platforms globally.
Reviews.io is a Bristol-based review management platform that collects, displays, and analyzes customer feedback for e-commerce sites. It integrates with Shopify, WooCommerce, and Magento to generate verified reviews via post-purchase emails and SMS. Features encompass photo uploads, Q&A sections, and Google Seller Ratings. The service helps businesses boost SEO through rich snippets and monitors competitors' review volumes.
HQ CountryUnited StatesUnited Kingdom
HQ City
Austin, TX
London
Deal Date25 Jul 202322 Nov 2022
Valuationundisclosed$72M
EV/Revenue
EV/EBITDA

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AppHub Competitors

AppHub competitors include listed companies like Shopify and Wix.com, and private ones like THG Ingenuity, Automattic, Houzz and Webflow.

Public and private companies comparable to AppHub
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ShopifyCanadaCanadaPublicly listed$12B$1.2B$165B11.3x
THG IngenuityUnited KingdomManchesterPrivate--$8B-
AutomatticUnited StatesSan Francisco, CAPrivate$45M-$7.5B-
HouzzUnited StatesSan Francisco, CAPrivate--$4B-
WebflowUnited StatesSan Francisco, CAPrivate$100M-$4B40.0x
Wix.comUnited StatesUnited StatesPublicly listed$2B($13M)$3.3B2.0x

AppHub Public Comps

AppHub is still privately-owned, but its public comps include Shopify, GoDaddy, Wix.com, Xinhua Winshare, GigaCloud Technology, Infomart, Lightspeed Commerce, Rezolve AI, Shiprocket and Hangzhou Raycloud Tech.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Shopify$12B$1.2B13.9x11.3x132.9x61.9x
GoDaddy$5B$1.3B3.1x2.9x11.7x8.9x
Wix.com$2B($13M)2.2x2.0x(352.9x)14.4x
Xinhua Winshare$1.7B$248M0.4x0.4x2.9x3.4x
GigaCloud Technology$1.3B$158M1.6x1.4x12.8x10.6x
Infomart$121M$31M9.3x8.6x35.9x31.7x
Lightspeed Commerce$1.2B($13M)0.7x0.7x(65.4x)11.0x
Rezolve AI$47M($109M)23.3x4.0x(10.0x)(19.3x)

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Common questions about AppHub

When was AppHub founded?AppHub was founded in 2021.
Where is AppHub headquartered?AppHub is headquartered in Boston, MA, United States.
Is AppHub publicly listed?No, AppHub is a private, VC-backed company.
How much funding has AppHub raised?AppHub has raised $155M across 2 funding rounds.
What was AppHub's last funding round?AppHub's last funding round was a $95M undisclosed-stage round in July 2023, led by PSG Equity.
Who are AppHub's investors?AppHub's investors include Silversmith Capital Partners and PSG Equity.
Which companies are comparable to AppHub?Companies comparable to AppHub include Shopify, THG Ingenuity, Automattic, Houzz, Webflow and Wix.com.
How many companies has AppHub acquired?AppHub has acquired 2 companies, including Boost Commerce and Reviews.io.
What was the largest acquisition by AppHub?The $72M acquisition of Reviews.io in November 2022 is the largest acquisition AppHub has made to date.

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