AppHub builds and acquires apps that are geared towards e-commerce merchants. AppHub, an e-commerce enablement platform launched in 2021, has raised $95 million from growth-equity firm PSG to continue building up its portfolio of apps as changes come to Shopify's app ecosystem. More than 150,000 merchants are now using AppHub apps, CEO and cofounder Kris Eng told Insider. Deciding whether to build or acquireAppHub decides whether to acquire an app or build a solution of its own on a case-by-case basis. The new funding from PSG will allow AppHub to continue to invest in its existing portfolio and look for other apps to acquire.

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Persons: AppHub, Kris Eng, Eng, Tobi Lütke, Harley Finkelstein, AppHub Shopify, they've, Matt Tennenhouse, Tennenhouse, we'll, Matt Stone Organizations: PSG, Capital Partners