Blackstone has led a $100 million minority funding round for marketing technology company Applecart, valuing it at approximately $700 million. The investment, made through Blackstone’s growth equity business, will support Applecart’s software platform used by senior executives to identify and engage key stakeholders across corporate, media, and policy sectors.

The deal signals persistent private equity appetite for enterprise software with proprietary data and recurring revenue models. Applecart’s clients include large corporations, communications agencies, and non-profits. The company, founded in 2013, has seen its board bolstered by prominent figures like Ari Emanuel, who previously led its Series A round in 2018.

Board appointments now include Emanuel, Risa Heller, and Applecart co-CEOs Matt Kalmans and Sacha Samotin. This funding round occurs in a tighter growth equity market, where investors remain selective. The move positions Applecart to scale its platform amid rising demand for data-driven stakeholder engagement tools.