Total amount raised
$261 Million
Latest funding date
3/1/2018
Location
Apptio has successfully raised funding over eight rounds, with the latest being a Post-IPO Debt round. The company is backed by 13 investors, including SharesPost Investment Management and Employee Stock Option Fund.
Apptio provides technology business management solutions that help organizations make data-driven decisions about 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, is headquartered in Bellevue, Washington. The company specializes in Technology Business Management (TBM) solutions, offering services in analytics, business process automation, enterprise software, information technology, SaaS, and software.
With a workforce of over 1,000 employees, Apptio provides tools that help organizations manage and optimize their IT investments. The company was acquired by IBM and continues to expand its capabilities through multiple funding rounds and acquisitions.
How Much Funding Has Apptio Raised?
- Series A
- Amount Raised: USD 7,000,000
- 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: USD 14,000,000
- Date: August 2009
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their product capabilities and market reach.
- Series C
- Amount Raised: USD 20,000,000
- Date: August 2010
- Lead Investors: Andreessen Horowitz, Greylock, Madrona, Shasta Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance their technology platform.
- Series D
- Amount Raised: USD 50,000,000
- Date: March 2012
- Lead Investors: T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series E
- Amount Raised: USD 45,000,000
- Date: May 2013
- Lead Investors: Hillman, Janus Capital Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support product development and strategic acquisitions.
- 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
- Investor Count: 2
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To offer liquidity to shareholders.
- Post-IPO Debt
- Amount Raised: USD 125,000,000
- Date: March 2018
- 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: USD 261,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- SharesPost Investment Management
- Details: SharesPost Investment Management focuses on secondary market investments. They participated in the Secondary Market funding round for Apptio.
- Investment Focus Areas: Secondary market investments
- Notable Investments: Apptio
- Employee Stock Option Fund
- Details: Employee Stock Option Fund provides liquidity for employee stock options. They are listed as one of the most recent investors in Apptio.
- Investment Focus Areas: Employee stock options
- Notable Investments: Not specified
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm founded in 2009. They have invested in Apptio's Series B and Series C rounds.
- Investment Focus Areas: Technology, software, SaaS
- Notable Investments: Facebook, Airbnb, Slack
- Greylock
- Details: Greylock is a venture capital firm that has been investing in technology companies since 1965. They led Apptio's Series A round.
- Investment Focus Areas: Consumer internet, enterprise software, SaaS
- Notable Investments: LinkedIn, Dropbox, Airbnb
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm founded in 1937. They led Apptio's Series D round.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Amazon, Google, Facebook
What's Next for Apptio?
Apptio's future looks promising with significant opportunities on the horizon. The company recently raised $125 million through a convertible note offering, which will be used for general corporate purposes, working capital, capital expenditures, potential acquisitions, and strategic transactions. This financial boost positions Apptio to expand its market presence and enhance its product offerings through strategic acquisitions, such as the recent purchase of Digital Fuel.
As the IT business management software industry continues to grow, Apptio is well-placed to capitalize on these trends. The company may seek additional funding to support its expansion and acquisition strategies, ensuring it remains competitive. However, challenges such as integrating acquired companies and effectively utilizing raised funds to generate expected returns will need to be navigated carefully.
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