Western Alliance Bank Provides $7 Million in Venture Debt to Appcues

BOSTON — Western Alliance Bank today announced its Innovation Banking Group has provided $7 million in venture debt to Appcues, which builds technology to identify onboarding issues and provide low-code, non-technical solutions to fix them. The deal was led by Brendan Carr and Michael Walsh, both of whom are based in Western Alliance Bank’s Boston office.

“Appcues is taking a fresh approach to streamline user experiences and swiftly power in-app self-service options,” said Brendan Carr, vice president in Western Alliance Bank’s Innovation Banking Group. “We’re pleased to help support Appcues’ mission to deliver personalized experiences that improve results for their clients.”

The venture debt comes on the heels of a $32.1 million Series B equity round led by NewSpring Capital. Appcues will use these funds to grow its remote team, develop new products and device support and produce free educational resources to help Software as a Service (SaaS) professionals succeed.

Initially based in Boston, Appcues is now a fully remote company with teammates in 22 states and 12 countries. Together, they serve 1,500 customers and have powered more than 1.8 billion end-user experiences. Appcues operates as a native extension of customers’ products to help customers create rewarding experiences, move faster as a team and become more product-led.

“Western Alliance Bank has been a phenomenal partner. We look forward to growing our relationship as we scale,” said Jackson Noel, co-founder and CEO of Appcues.

Western Alliance's Innovation Banking Group provides financing solutions to companies in a variety of technology sectors at any stage in the growth cycle. From inception through IPO, the Innovation Banking Group is a leading financial resource to companies nationwide that are bringing new technologies to market.

About Appcues

Since 2014, Appcues has empowered non-technical product managers and marketers to deliver on-brand, personalized end-user experiences and impact key business metrics within hours — all with Appcues’ expert-level support and resources behind them. Thousands of SaaS companies around the world have increased activation and adoption, improved retention and advocacy, and optimized trial conversions and upsells with Appcues’ Product Experience Platform. Appcues is backed by Sierra Ventures, NewSpring and Accomplice. To learn more and start your free trial, visit www.appcues.com.