AppDirect, a B2B commerce platform has acquired Builtfirst, a provider in self-service marketplace platform technology. Builtfirst says its low code/no code approach aims to get a marketplace up and running in a matter of minutes.
The company focuses on technology development around self-service and user-friendly accessibility. An approach that aligns with AppDirect’s product-led growth strategy, launched in 2021. As a subscription commerce platform, AppDirect will offer Builtfirst customers additional benefits and new functionality, like the ability to leverage components of AppDirect’s digital commerce platform.
This key acquisition arrives as more organisations invest in marketplaces. Gartner has reported, “By 2025, 80% of B2B sales interactions between suppliers and buyers will occur in digital channels.” Although more buyers want to purchase through marketplaces, many organisations are early in the journey to offer their services and solution ecosystems through a marketplace. This new relationship between AppDirect and Builtfirst will provide multiple options on how to guide customers to begin the marketplace journey. Additionally, it will scale to meet their future needs.
Creating a crucial pipeline for customer journey
Aaron Bailey, Builtfirst’s co-founder and CEO says, “Builtfirst was created based on a vision where every business can succeed together. We have extensive experience in helping mid-size organisations accomplish their marketplace goals.”
“By joining the AppDirect team, Builtfirst will become part of an organisation that’s founded on the same mission. To make technology universally accessible. AppDirect has a wealth of experience and knowledge in the Enterprise space. With the addition of the Builtfirst platform, we now become a global powerhouse to meet all B2B marketplace demand.”
“Companies often start with basic directories for integrations or special discounts. They quickly evolve towards full-scale subscription commerce as experience and expertise grows,” said Michael Julve, co-founder of Builtfirst. “This acquisition creates a crucial pipeline for their entire journey.”
As a leader in digital commerce platforms and marketplaces, AppDirect recognises the potential of Builtfirst’s growth in this space. This acquisition aligns AppDirect with an organisation that shares similar goals, allowing it to meet the growing demand for technology that makes ecosystem strategies successful.
“This acquisition provides an immediate pathway for Builtfirst customers to move to commerce,” said Andy Ellerhorst, Vice President of Corporate Development and Chief of Staff at AppDirect. “Which is the natural progression for any marketplace. Bringing Builtfirst into the AppDirect team is not only beneficial for its customers, AppDirect will also gain a new line of business that helps our goal of making technology accessible for any sized organisation”
This acquisition is not expected to impact the Builtfirst brand in the short term. AppDirect says customers will receive the same level of support and service they have come to expect from both companies.
Enterprise Times: What this means for businesses
AppDirect has over a decade of experience in digital commerce. Adding the Builtfirst platform to its suite of solutions further expands AppDirect’s ability to help companies of all sizes with their marketplace needs. The company has ambitions to become the single source destination for marketplaces. Therefore, the acquisition and merger of companies is expected to combine their collective expertise and accelerate growth.
Last year, Jitterbit revealed the results of its research, ‘eCommerce Marketplace Strategy: The Power of Hyperautomation.’ According to the Centre for Economic and Business Research, revenue from marketplace sales grew 9.4% year-on-year, outstripping the 7.4% growth of companies without a marketplace presence. Enabling this marketplace growth – and the transformation of the way consumers like to shop – is integration technology. Connections between vendors and marketplaces, connections between logistics and payment services, and other integrations required to deliver the customer experience.
Hence AppDirect’s acquisition. Builtfirst’s self-service tools and applications appear to be a comfortable fit for AppDirect’s corporate ambitions.
