Friday, August 26, 2016

Apptio Files For IPO

Bellevue-based Apptio, the developer of IT and business management software led by Sunny Gupta, has filed for an IPO, saying that it is looking to raised $75.0M in an IPO on the NASDAQ Global Market. The company has applied to list as APTI. The IPO is being underwritten by Goldman, Sachs & Co., J.P. Morgan, BofA Merrill Lync, Barclays, Jefferies, RBC Capital Markets, and Pacific Crest Securities. Apptio is venture backed by Greylock Partners, Madrona Ventures, and Shasta Ventures. Apptio reported a net loss of $41.0MM on $129.25M in revenues for its year ended December 31, 2015.