Tuesday, August 18, 2009

Apptio Gains $14M

Bellevue-based Apptio said this morning that the firm has raised $14M in a Series B round of funding. The round came from Andreessen Horowitz Fund, the new investment fund run by Marc Andreessen and Ben Horowitz; Shasta Ventures; and existing investors Greylock and Madrona. The firm said the new funding will go towards product development, sales, and marketing. Apptio develops software-as-a-service used for IT financial management and decision making; the firm counts Alaska Airlines, Blue Cross Blue Shield of Kansas, BNP Paribas, EMD Chemical and Razorfish as customers. More information »