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]
Kurt Shintaffer (CFO, co-founder)[3]
Larry Blasko (Chief Revenue Officer) [4]
Barbara Gordon (Chief Customer Officer)[5]
Ted Kummert (EVP Engineering & Cloud Operations) [6]
John Morrow (EVP Corporate Development & General Counsel)[7]

Chris Pick (Chief Marketing Officer) [8]
Products Business Management Applications
Number of employees
 501-1000 employees [9]
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][10][11] In 2009, the company was the first investment for Silicon Valley venture capital firm Andreessen Horowitz.[12]

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.[13] 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.[14]

The company has approximately 325 customers,[15] 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][16][17] [18] 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.[19]

Executives and funding

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.[11][16] 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.”[11] 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][16]

On September 23, 2016, Apptio raised $96 million with its IPO.[20]

Technology Business Management Council

Apptio founded the Technology Business Management Council in 2012,[21] a non-profit organization that had over 2,900 CIOs[22] and other senior IT leaders by 2014.[21] The council “aims to help IT departments run like businesses by setting standards and best practices” (Puget Sound Business Journal).[23] The council held its first conference in November 2013.[17]

Awards and industry recognition

In 2012, CEO Gupta was among Ernst & Young’s Entrepreneur of the Year award winners.[24] The same year, Apptio received first place in Seattle Business magazine’s 100 Best Companies to Work For: Large Companies[13] and received the magazine’s Tech Impact Award for Enterprise Computing.[25]

In 2013, Apptio was cited for innovation in enterprise technology by Bank of America Merrill Lynch.[26] Apptio co-founder and CTO Paul McLachlan received the Puget Sound Business Journal 2013 Innovator Award.[27]

The Seattle Times called Apptio “the region’s next big tech company” in 2014.[17]

In 2016, Apptio was ranked #16 on the Forbes Cloud 100 list.[28]

References

  1. 1 2 3 4 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. ↑ http://www.prnewswire.com/news-releases/apptio-promotes-co-founder-kurt-shintaffer-to-chief-financial-officer-300103125.html
  4. ↑ http://www.apptio.com/news/apptio-expands-executive-leadership-team
  5. ↑ http://www.apptio.com/news/apptio-expands-executive-leadership-team
  6. ↑ http://www.geekwire.com/2013/microsoft-vet-ted-kummert-joins-madrona-venture-group/
  7. ↑ http://www.apptio.com/news/apptio-adds-leadership-talent-experienced-saas-continue-growth-trajectory
  8. ↑ http://www.apptio.com/news/apptio-appoints-chris-pick-cmo
  9. ↑ "apptio". linkedin.com. Retrieved 7 Jan 2015.
  10. ↑ King, Rachel (15 May 2013). "TBM startup Apptio raises $45M; plans to expand global footprint". ZDNet. Retrieved 20 March 2014.
  11. 1 2 3 Grant, Rebecca (15 May 2013). "Andreessen Horowitz's first investment Apptio closes $45M fifth round". VentureBeat. Retrieved 20 March 2014.
  12. ↑ Ricketts, Camille (19 August 2009). "First Andreessen Horowitz investment, Apptio, raises $14M". Venture Beat. Retrieved 20 March 2014.
  13. 1 2 Horton, Nick (July 2012). "100 Best Companies to Work For 2012: Large Companies". Seattle Business magazine. Retrieved 20 March 2014.
  14. ↑ Bond, Phillip J. (15 Nov 2014). "A new way to track government spending on technology". The Hill. Retrieved 7 Jan 2014.
  15. ↑ "Apptio S-1 Registration Statement". Website. Apptio. August 26, 2016.
  16. 1 2 3 Hesseldahl, Arik (15 May 2013). "Apptio Lands $45 Million Series E From Janus Capital". All Things D. Retrieved 20 March 2014.
  17. 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.
  18. ↑ Pick, Chris. "Innovation Is Your Business. We Make It Possible.". Blog. Apptio. Retrieved 20 March 2014.
  19. ↑ Francis, Hannah (25 March 2014). "Apptio partners with UXC for Australian launch". The Australian. Retrieved 11 April 2014.
  20. ↑ "Apptio prices stock at $16 in IPO". 2016-09-22. Retrieved 2016-09-23.
  21. 1 2 "Apptio US SEC S-1 Registration Statement". Blog post. Apptio.
  22. ↑ "S-1". www.sec.gov. Retrieved 2016-09-30.
  23. ↑ 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.
  24. ↑ Sokolowsky, Jennifer (18 June 2012). "Ernst & Young honors Entrepreneur of the Year winners". Puget Sound Business Journal. Retrieved 20 March 2014.
  25. ↑ "Tech Impact Awards 2012: Enterprise Computing". Seattle Business magazine. October 2012. Retrieved 20 March 2014.
  26. ↑ "Apptio Receives Honor from Bank of America Merrill Lynch for Innovation in Enterprise Technology". Press release. Apptio. Retrieved 20 March 2014.
  27. ↑ Kugiya, Hugo (13 December 2013). "Paul McLachlan: Winner 2013 Innovator Award". Puget Sound Business Journal. Retrieved 20 March 2014.
  28. ↑ "Forbes Cloud 100". Forbes. Retrieved 2 November 2016.

External links

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