Apttus Raises $108M in Series C Funding Round
Enhanced industry-specific solutions, global momentum and a dynamic customer base fuel the Quote-to-Cash leader’s strong growth
SAN MATEO, California, Sept. 1, 2015 – Apttus, the Quote-to-Cash solution provider, today announced it has raised $108 million in a Series C funding round. Investors in this round include Iconiq Capital, K1 Capital, KIA and Salesforce Ventures. This investment follows a $37M Series A round in September 2013 and a $41M Series B round in February 2015. The funds will be used to provide new business solutions and services to Apttus customers and prospects in fields such as manufacturing, life sciences, financial services and telecommunications. The round was led by KIA, the oldest, and one of the largest, sovereign wealth funds in the world. This investment will reinforce Apttus’ leading position within a marketplace opportunity it helped create in 2006.
Apttus is a provider of cloud solutions for configure price quote, e-commerce, contract management, X-Author and revenue management: critical business solutions that provide an unbroken funnel throughout the sales cycle, known as the Quote-to-Cash process. Apttus has built its solutions upon the Salesforce1 Platform since its foundation and has been an active partner and participant in the Salesforce ecosystem. This funding round is a strong indicator of not only Apttus’ growth potential and product suite, but also the strength of Salesforce as a development platform for companies of all sizes.
KEY CONSIDERATIONS
- Apttus has received $108M in Series C funding
- Apttus received $37M in Series A funding in September of 2013 and $41M in February of 2015
- Apttus’ pioneering of the Quote-to-Cash cycle has brought scalable speed and efficiency to sales and revenue processes
- Apttus customers include 70 of the Fortune 500
- Apttus is projected to close 2015 with over 1,000 employees, quadruple 2013’s final headcount
- New offices in London, Sydney, Chicago and a forthcoming Japan location have cemented Apttus’ global impact
COMMENTARY
“Our forward-thinking, dedicated customer base has created an amazing opportunity for us, and we’re delighted to have the capital to pursue it,” said Kirk Krappe, CEO and co-founder of Apttus. “The partners and investors we’ve chosen for this opportunity align with our highest priority, the success and growth of our customers. With their support, we’re tremendously excited to take the next step on this rare and powerful path together.”
“The Apttus team’s tremendous vision has created a software investment opportunity that we were compelled to take part in,” said Farouq Bastaki, Executive Director of Alternative Investments at KIA. “Apttus has re-defined the Quote-to-Cash process and we believe they have developed the future of how organizations manage their entire revenue operation — a modern front office, in the cloud. We’re excited to be a critical component of the global transformation they deliver to customers of all sizes, across the globe.”
“Salesforce Ventures is committed to investing in enterprise startups who are delivering technology that allows companies to connect with their customers in entirely new ways,” said John Somorjai, EVP of Corporate Development and Salesforce Ventures, Salesforce. “Apttus’ acceleration is a testament to the growth potential and power of the Salesforce1 Platform, across all industries.”
About Apttus
Apttus, the category-defining Quote-to-Cash software company, drives the vital business process between the buyer’s interest in a purchase and the realization of revenue. Apttus is delivered on the Salesforce1 Platform, the world’s most trusted and comprehensive cloud delivery infrastructure. Applications include Quote-to-Cash Intelligence (Analytics), Configure Price Quote (CPQ), Renewals, Contract Management and Revenue Management. Additionally, Apttus’ patent pending X-Author technology enables Microsoft Office to be a user-interface with full interaction and control between Salesforce and Microsoft Office. Apttus is based in San Mateo, California, with additional offices in London, UK, Bozeman, Montana and Ahmedabad, India. For more information visit: apttus.com.
About Salesforce Ventures
Salesforce Ventures—Salesforce’s corporate investment group—invests in the next generation of enterprise technology to help companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage the expertise of the Salesforce Foundation to incorporate its 1-1-1 model of integrated philanthropy to make giving back part of their business model. Salesforce has invested in more than 150 enterprise cloud startups since 2009. For more information, please visit www.salesforce.com/ventures.
