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Apptio is a
Bellevue Bellevue means "beautiful view" in French. It may refer to: Placenames Australia * Bellevue, Western Australia * Bellevue Hill, New South Wales * Bellevue, Queensland * Bellevue, Glebe, an historic house in Sydney, New South Wales Canada ...
,
Washington Washington commonly refers to: * Washington (state), United States * Washington, D.C., the capital of the United States ** A metonym for the federal government of the United States ** Washington metropolitan area, the metropolitan area centered o ...
-based company founded in 2007 that develops technology business management (TBM)
software as a service Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software. SaaS is con ...
(SaaS) applications. Apptio enterprise apps are designed to assess and communicate the cost of IT services for planning, budgeting and forecasting purposes; Apptio's services offer tools for CIOs to manage technology departments' storage, applications, energy usage, cybersecurity, and reporting obligations. manage the costs of public cloud, migration to public cloud and SaaS portfolios; and adopt and scale Agile across the enterprise. In 2009, the company was the first investment for
Silicon Valley Silicon Valley is a region in Northern California that serves as a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical areas San Mateo Coun ...
venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to start-up company, startups, early-stage, and emerging companies that have been deemed to have high growth poten ...
firm
Andreessen Horowitz Andreessen Horowitz (also called a16z, legal name AH Capital Management, LLC) is a private American venture capital firm, founded in 2009 by Marc Andreessen and Ben Horowitz. The company is headquartered in Menlo Park, California. Andreessen H ...
. The company has approximately 550 customers of various sizes. The company went public in September 2016. On November 11, 2018, it was announced that Apptio would be acquired by the private equity firm
Vista Equity Partners Vista Equity Partners is an American investment firm focused on financing and forwarding software, data, and technology-enabled startup businesses. Vista has invested in hundreds of companies, including Misys, Ping Identity, and Marketo. The ...
for $1.9 billion. That same year, Apptio acquired
Digital Fuel Digital Fuel is a provider of IT financial management SaaS software for planning, billing. The company's headquarters is in Los Angeles, California. History Digital Fuel was co-founded in 2000 by Benny Lehmann, Israel Dancziger, Gilad Raz and Yak ...
, a cloud computing expenditure company, for $42.5 million.


History

The company was founded in 2007 by Sunny Gupta, Kurt Shintaffer and Paul McLachlan. Prior to founding the company, Gupta and Shintaffer worked together at before it was purchased by
Opsware Opsware, Inc. was a software company based in Sunnyvale, California, that offered products for server and network device provisioning, configuration, and management targeted toward enterprise customers. Opsware had offices in New York City, Redm ...
in 2007. In November 2007, the company received $7 million in funding from Madrona Venture Group and Greylock Partners while it was operating in stealth mode. Apptio raised an additional $14 million in Series B funding from the newly formed Andreessen Horowitz fund in 2009. In 2010, the company raised an additional $16.5 million in Series C funding led by Shasta Ventures, with participation from previous investors. In March 2012, the company raised an additional $50 million in Series D funding to continue scaling, hiring and expanding its services. In 2013, Apptio raised an additional $45 million in Series E funding, bringing its total raised to $136 million from firms including
Greylock Partners Greylock Partners is one of the oldest venture capital firms, founded in 1965, with committed capital of over $3.5 billion under management. The firm focuses on early-stage companies in the consumer, enterprise software and infrastructure as wel ...
,
Madrona Venture Group Madrona Venture Group is an American venture capital firm, founded in 1995 and based in Seattle, Washington. Madrona specializes in seed, startup, Series A and early stage investments. Company Madrona was founded in 1995 by Tom Alberg, Paul Go ...
, Janus Capital and T. Rowe Price. In March 2014, Apptio opened offices in Sydney and
Melbourne Melbourne ( ; Boonwurrung/Woiwurrung: ''Narrm'' or ''Naarm'') is the capital and most populous city of the Australian state of Victoria, and the second-most populous city in both Australia and Oceania. Its name generally refers to a met ...
, Australia. In 2015, the company announced that it was adding an office in
Denver Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the Unit ...
. Apptio added another international office in March 2016, when it announced it would open an office in
Paris, France Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. Si ...
. On September 23, 2016, Apptio raised $96 million with its
IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
. On February 2, 2018, Apptio completed the acquisition of
Digital Fuel Digital Fuel is a provider of IT financial management SaaS software for planning, billing. The company's headquarters is in Los Angeles, California. History Digital Fuel was co-founded in 2000 by Benny Lehmann, Israel Dancziger, Gilad Raz and Yak ...
SV, LLC, a provider of IT business management (ITBM) tools. On November 11, 2018, Apptio entered into definitive agreement to be acquired by Vista Equity Partners for $1.94 billion. Apptio shareholders received $38.00 in cash per share, representing a 53% premium to the unaffected closing price as of November 9, 2018. In 2019, Apptio acquired Cloudability, a firm that manages cloud spend. Apptio opened its first
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...
office location in August 2019. In May 2020, LeanIX revealed technology collaboration with Apptio to include core IT spending data analytics. In February 2021, the company acquired Targetprocess, a software platform that specializes in business investments, for agile. In April 2021, Apptio launched a redesigned portfolio of products including: ApptioOne, Targetprocess, and Cloudability. Apptio announced its first certified solution and integration with
ServiceNow ServiceNow is an American software company based in Santa Clara, California that develops a cloud computing platform to help companies manage digital workflows for enterprise operations. Founded in 2003 by Fred Luddy, ServiceNow is listed on the ...
in July 2021. The following month, Apptio opened its
Kraków Kraków (), or Cracow, is the second-largest and one of the oldest cities in Poland. Situated on the Vistula River in Lesser Poland Voivodeship, the city dates back to the seventh century. Kraków was the official capital of Poland until 1596 ...
,
Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populou ...
office. In December 2021, the company announced its collaboration with
Microsoft Microsoft Corporation is an American multinational technology corporation producing computer software, consumer electronics, personal computers, and related services headquartered at the Microsoft Redmond campus located in Redmond, Washin ...
to deploy Apptio’s platform on Microsoft Cloud to help enterprises migrate and optimize workloads. Apptio also partnered with IBM to accelerate enterprise transformation and improve hybrid cloud technology that same year.


Technology Business Management Council

Apptio founded the Technology Business Management Council in 2012, a non-profit organization that had over 2,900 CIOs and other senior IT leaders by 2014. It was reported by the ''
Puget Sound Business Journal The ''Puget Sound Business Journal'' (PSBJ) is a weekly American City Business Journals publication containing articles about business people, issues, and events in the greater Seattle, Washington area. The publication also publishes a technology ...
'' that the council "aims to help IT departments run like businesses by setting standards and best practices" . The council held its first conference in November 2013.


Awards

In 2020, Apptio’s Cloudability was named a Leader in The Forrester Wave for Cloud Cost Management and Optimization. Apptio was a Bronze winner for the 2021 Stevie Awards. In 2021, Apptio’s Targetprocess was recognized by
Gartner Gartner, Inc is a technological research and consulting firm based in Stamford, Connecticut that conducts research on technology and shares this research both through private consulting as well as executive programs and conferences. Its client ...
as Leader in the Enterprise Agile Planning Tools
Magic Quadrant Magic Quadrant (MQ) is a series of market research reports published by IT consulting firm Gartner that rely on proprietary qualitative data analysis methods to demonstrate market trends, such as direction, maturity and participants. Their anal ...
. Targetprocess was recognized again in 2022 by the Gartner EAP Magic Quadrant.


References


External links

* {{Finance links historical , name = Apptio Inc. , sec_cik = 0001419625 Companies based in Bellevue, Washington Software companies based in Washington (state) Companies formerly listed on the Nasdaq Software companies established in 2007 American companies established in 2007 2016 initial public offerings 2019 mergers and acquisitions Business software companies Private equity portfolio companies Software companies of the United States