Apptio

Apptio, Inc.
Industry Computer software
IT services
Founded 2007
Headquarters Bellevue, Washington, United States
Area served
 Worldwide
Key people
 Sunny Gupta (CEO, co-founder and president).,[1][2] Sean Boyle (CFO)
Products Business Management Applications
Number of employees
 501-1000 employees [3]
Website www.apptio.com

Apptio is a Bellevue, Wash.-based company founded in 2007 that develops technology business management software as a service applications.[1][4][5] In 2009, the company was the first investment for Silicon Valley venture capital firm Andreessen Horowitz.[6]

Apptio enterprise apps are designed to enable the assessment of IT service costs and communicate those costs to corporate leaders for planning, budgeting and forecasting purposes.[7] The tools are designed to help CIOs run the technology departments as a business, tracking hardware, storage, cloud usage, applications, energy usage, cybersecurity, telecommunications, and reporting obligations.[8]

The company has approximately 250 customers,[9] including small companies as well as corporations such as Bank of America, Metlife, Cisco, Microsoft, Starbucks, JPMorgan Chase, Goldman Sachs, Boeing, Target, Xerox, Coca-Cola and DirecTV.[1][10][11] [12] In March 2014, Apptio opened offices in Sydney and Melbourne, Australia and announced Australian mining company Orica and two Australian federal government departments as customers.[13]

Executives and funding

Apptio has approximately 550 employees.[1] In November 2013, Apptio hired the former head of investor relations at Amazon.com, Sean Boyle, as its CFO.[1] At that time, Ted Kummert, formerly an executive with Microsoft’s corporate-software group, was hired as Apptio’s executive vice president of engineering and cloud operations, and Microsoft’s former CFO, Peter Klein was added to Apptio’s board.[1] The moves were viewed as an indication that Apptio was heading toward an initial public offering.[1]

CEO Gupta was formerly a partner executive with Opsware, which venture capitalists Marc Andreessen and Ben Horowitz sold to Hewlett-Packard for $1.6 billion in 2007.[5][10] When announcing that Apptio would be Andreessen Horowitz’s first investment, investor Ben Horowitz said, “Apptio has everything we like to see in investments—a big market with a significant problem.”[5] In addition to Andreessen Horowitz’s investment, Apptio has raised a total of $136 million from Greylock Partners, Madrona Venture Group, Janus Capital and T. Rowe Price.[1][10]

Technology Business Management Council

Apptio founded the Technology Business Management Council in 2008,[14] a non-profit organization that had over 1,100 CIOs and other senior IT leaders by 2014.[14] The council “aims to help IT departments run like businesses by setting standards and best practices” (Puget Sound Business Journal).[15] The council held its first conference in November 2013.[11]

Awards and industry recognition

In 2012, CEO Gupta was among Ernst & Young’s Entrepreneur of the Year award winners.[16] The same year, Apptio received first place in Seattle Business magazine’s 100 Best Companies to Work For: Large Companies[7] and received the magazine’s Tech Impact Award for Enterprise Computing.[17]

In 2013, Apptio was cited for innovation in enterprise technology by Bank of America Merrill Lynch.[18] Apptio co-founder and CTO Paul McLachlan received the Puget Sound Business Journal 2013 Innovator Award.[19]

The Seattle Times called Apptio “the region’s next big tech company” in 2014.[11]

References

  1. 1 2 3 4 5 6 7 8 Ovide, Shira (18 November 2013). "IPO Candidate Apptio Adds 3 Public-Company Veterans". WSJ Digits. Retrieved 20 March 2014.
  2. ↑ "Leadership". Website. Apptio. Retrieved 20 March 2014.
  3. ↑ "apptio". linkedin.com. Retrieved 7 Jan 2015.
  4. ↑ King, Rachel (15 May 2013). "TBM startup Apptio raises $45M; plans to expand global footprint". ZDNet. Retrieved 20 March 2014.
  5. 1 2 3 Grant, Rebecca (15 May 2013). "Andreessen Horowitz’s first investment Apptio closes $45M fifth round". VentureBeat. Retrieved 20 March 2014.
  6. ↑ Ricketts, Camille (19 August 2009). "First Andreessen Horowitz investment, Apptio, raises $14M". Venture Beat. Retrieved 20 March 2014.
  7. 1 2 Horton, Nick (July 2012). "100 Best Companies to Work For 2012: Large Companies". Seattle Business magazine. Retrieved 20 March 2014.
  8. ↑ Bond, Phillip J. (15 Nov 2014). "A new way to track government spending on technology". The Hill. Retrieved 7 Jan 2014.
  9. ↑ Gupta, Sunny. "What We Can Learn from the Seahawks". Website. Apptio. Retrieved 20 March 2014.
  10. 1 2 3 Hesseldahl, Arik (15 May 2013). "Apptio Lands $45 Million Series E From Janus Capital". All Things D. Retrieved 20 March 2014.
  11. 1 2 3 Dudley, Brier (6 November 2013). "Apptio founder Sunny Gupta on building the region’s next big tech company". The Seattle Times. Retrieved 20 March 2014.
  12. ↑ Pick, Chris. "Innovation Is Your Business. We Make It Possible.". Blog. Apptio. Retrieved 20 March 2014.
  13. ↑ Francis, Hannah (25 March 2014). "Apptio partners with UXC for Australian launch". The Australian. Retrieved 11 April 2014.
  14. 1 2 Pick, Chris. "Define Your Value Proposition: Four Strategies on Category Creation". Blog post. Apptio. Retrieved 20 March 2014.
  15. ↑ Parkhurst, Emily (6 June 2013). "Apptio CEO: We want to be the next Pacific NW tech icon". Puget Sound Business Journal. Retrieved 20 March 2014.
  16. ↑ Sokolowsky, Jennifer (18 June 2012). "Ernst & Young honors Entrepreneur of the Year winners". Puget Sound Business Journal. Retrieved 20 March 2014.
  17. ↑ "Tech Impact Awards 2012: Enterprise Computing". Seattle Business magazine. October 2012. Retrieved 20 March 2014.
  18. ↑ "Apptio Receives Honor from Bank of America Merrill Lynch for Innovation in Enterprise Technology". Press release. Apptio. Retrieved 20 March 2014.
  19. ↑ Kugiya, Hugo (13 December 2013). "Paul McLachlan: Winner 2013 Innovator Award". Puget Sound Business Journal. Retrieved 20 March 2014.

External links

This article is issued from Wikipedia - version of the Friday, April 08, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.