Thursday, March 15, 2012

Apptio Raises Massive, $50M Round

Seattle-based Apptio, the developer of IT management software headed by Sunny Gupta, has just closed on a massive, $50M funding round, the firm said Thursday afternoon. The company said that the Series D funding round came from T. Rowe Price Associates, and also included prior investors Andreessen Horowitz, Greylock Partners, Madrona Venture Group and Shasta Ventures. Apptio said it will use the new capital to invest in its platform. The new funding brings Apptio's total raised now to $91M. Tom Bogan, the Chairman of Citrix, has become Chairman of the board along with the funding. Apptio's software is used by companies to manage and measure their IT services, in particular managing the planning, budgeting, and forecasting of IT costs across an enterprise. More information »