Blackstone Backs Startup Applecart at $700 Million Valuation

Applecart, a marketing technology startup, raised $100 million in a minority funding round led by Blackstone Inc.’s growth equity business.

The investment values the company at about $700 million, according to a person familiar with the matter, who asked not to be identified discussing the private funding round.

Founded in 2013, Applecart sells software used by senior executives to identify and reach influential business, media and policy stakeholders. The platform is used by large companies, advertising and communications firms, and nonprofits across brand marketing, communications, investor relations and public affairs.

As part of the transaction, Ari Emanuel, executive ...