Total amount raised
$261 Millions
Latest funding date
3/1/2018
Location
Apptio has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The company offers technology business management solutions that help organizations optimize their IT investments.
Keep reading to explore the intricacies of Apptio's fundraising journey and the investors backing this innovative platform.
What Is Apptio?
Apptio, founded in 2007 by Sunny Gupta, Kurt Shintaffer, and Paul McLachlan, is headquartered in Bellevue, Washington. The company specializes in technology business management (TBM) solutions, helping organizations manage and optimize their IT investments.
Apptio offers a range of SaaS solutions, including IT Financial Management, Cloud Financial Management, and Agile portfolio management. Their products, such as IBM Apptio, IBM Cloudability, and IBM Targetprocess, enable data-driven decision-making and efficient technology spending.
With over 1,000 employees globally, Apptio serves more than 1,800 customers, including over 60% of Fortune 100 companies, managing $650 billion in technology spend.
How Much Funding Has Apptio Raised?
- Series A
- Amount Raised: $7M
- Date: November 2007
- Lead Investors: Greylock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial product offerings.
- Series B
- Amount Raised: $14M
- Date: August 2009
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and enhance product features.
- Series C
- Amount Raised: $20M
- Date: August 2010
- Lead Investors: Andreessen Horowitz, Greylock, Madrona, Shasta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and accelerate growth.
- Series D
- Amount Raised: $50M
- Date: March 2012
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and market expansion.
- Series E
- Amount Raised: $45M
- Date: May 2013
- Lead Investors: Hillman, Janus Capital Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel further growth and innovation in their product suite.
- Secondary Market
- Date: September 2013
- Lead Investors: Akkadian Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Secondary Market
- Date: July 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To offer liquidity options for stakeholders.
- Post-IPO Debt
- Amount Raised: $125M
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: For general corporate purposes, working capital, capital expenditures, potential acquisitions, and strategic transactions.
Total Amount Raised: $261M. Current Valuation: Not publicly disclosed.
Key Investors
- Greylock
- Details: Greylock is a prominent venture capital firm based in Silicon Valley. They have a long history of investing in early-stage technology companies.
- Investment Focus Areas: Enterprise software, consumer internet, healthcare.
- Notable Investments: Facebook, LinkedIn, Airbnb.
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a venture capital firm founded by Marc Andreessen and Ben Horowitz. They are known for their significant investments in both early-stage and growth-stage companies.
- Investment Focus Areas: Software, fintech, bio + healthcare.
- Notable Investments: Coinbase, Slack, Pinterest.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm headquartered in Baltimore, Maryland. They offer a broad range of mutual funds, subadvisory services, and separate account management for individual and institutional investors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Tesla, Amazon, Google.
- Hillman
- Details: Hillman is a private equity firm that focuses on investing in growth-stage companies. They provide capital and strategic support to help businesses scale.
- Investment Focus Areas: Technology, consumer products, industrials.
- Notable Investments: Not publicly disclosed.
- Janus Capital Group
- Details: Janus Capital Group is a global asset management firm that offers a range of investment solutions. They are known for their active management approach and focus on delivering long-term results.
- Investment Focus Areas: Equities, fixed income, alternatives.
- Notable Investments: Not publicly disclosed.
What's Next for Apptio?
Apptio stands at the cusp of significant growth opportunities, driven by its recent $125 million convertible note offering. This funding is earmarked for general corporate purposes, working capital, capital expenditures, potential acquisitions, and strategic transactions. The acquisition of Digital Fuel highlights Apptio's strategy to expand through consolidation, a trend prevalent in the IT business management software industry.
Future fundraising efforts may be on the horizon as Apptio continues to seek opportunities for strategic transactions and acquisitions. However, the company faces challenges such as integrating new acquisitions and managing the debt from the convertible note offering. Staying competitive in a rapidly evolving market will require continuous innovation and strategic planning.
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