Blackstone's $100M Bet on Applecart: The Secret Tech Influencing Fortune 500 Leaders

The Rise of Elite Marketing Tech

A marketing technology firm that specializes in influencing C-suite executives, policymakers, and other key figures has secured a massive investment from one of the world's largest investors. Applecart received a $100 million investment from the private equity giant Blackstone last year, in a fundraising round that values the New York-based data company at approximately $500 million.

While Applecart largely operates under the radar, it holds a leading position in an emerging but discreet cohort of companies focused on reaching influential individuals in industry and government. Founded in 2013, the company initially worked on Republican political campaigns, applying innovative social graphs to help clients persuade stakeholders.

Matthew Kalmans, co-founder of Applecart, explained in a rare interview in 2016: "Recognizing that in the 21st century many people simply don't know their physical neighbors, we expanded on that by building technology to find the friends, bosses, colleagues, and people in communities who can sway the opinions of others in a more significant way."

How Applecart's Technology Works

Applecart now specializes in using social data to provide insights to marketers, brands, campaigns, and advocacy groups. The company boasts its ability to leverage data to make social connections and reach Fortune 500 decisionmakers and those in their immediate social circles.

Originally conceived as a political technology firm supporting moderate Republicans, Applecart has broadened its focus over time to target key influential figures across business, government, and media. In 2018, the company announced that Endeavor was investing in it, with CEO Ari Emanuel joining its board.

Applecart co-CEOs Matthew Kalmans and Sacha Samotin did not respond to multiple requests for comment, and a spokesperson for Blackstone declined to comment.