Applecart

Canaccord Genuity Advises Applecart on its $100 Million Minority Round Led by Blackstone, Valuing the Company at Approximately $700 Million

Canaccord Genuity has advised Applecart on its $100 million minority round led by Blackstone, which values the marketing technology company at approximately $700 million.

Founded in 2013 and originally developed to reach the most elite stakeholders in government, Applecart now empowers clients to reach their most important and hard-to-reach decision makers effectively, at scale, and across categories. Applecart advises the C-suites of hundreds of industry-leading organizations spanning dozens of Fortune 500 companies, top communications and advertising agencies, major trade associations, leading nonprofit organizations, and governments. The company’s technology platform enables CEOs, Chief Corporate Affairs Officers, CCOs, CMOs, and other C-suite executives to generate visibility for their most valuable content with critical decision makers and those in their orbits across nearly any channel. Clients leverage Applecart across a broad range of strategic communications use cases from public affairs and corporate communications to investor relations, employee relations, and brand marketing. 

The investment was made through Blackstone’s growth equity business. Ari Emanuel, executive chair of TKO Group Holdings and executive chairman of WME Group, will continue to serve on Applecart’s board. He previously led the company’s Series A round in 2018 while chief executive of Endeavor Group Holdings.

The board will also include public relations founder Risa Heller, alongside Applecart co-chief executives Matt Kalmans and Sacha Samotin. 

Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s more than $1.2 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries, and hedge funds.